Fantom (FTM) steals show in crypto market as it shoots for ATH, spike 17%

Fantom

Key Takeaways:

FTM, NEAR marks highest gain in crypto market over the past 24 hours.
FTM has surged by over 100% since mid-Dec.
Analysts predict a bullish 2022 for FTM.

NIGERIA (CoinChapter.com) – Fantom (FTM) and Near Protocol (NEAR) are the most significant gainers, with an impressive 20% price pump in the past 24 hours. Both coins are the latest Layer 1 coins to rally despite a decline among major assets like Bitcoin and Ethereum.

The FTM crypto first became tradable in 2018 and has risen by over 15,000%. At the time of writing, FTM crypto is the 29th largest crypto based on its market capitalization of $7.4 billion. Furthermore, the crypto is roughly $350 million away from Stellar, the 28th largest crypto.

Its recent surge has seen it near $3, which is only $0.46 away from its all-time high price, a line the coin looks set to cross very soon as the coin has been rallying since mid-December. FTM price has been up 109.3% in the last 14 days.

FTM price as it continued to surge since mid-dec. Source: TradingView.com

It is worthy to note that the Fantom network saw substantial growth last year. However, it was played down by other Layer 1 networks like Solana, Terra, and Avalanche. They exploded in recent months thanks to rapid growth in their respective DeFi ecosystems.

Ethereum, the supposed biggest network in the space, was weighed down by its expensive gas fees throughout 2021, as many market participants turned their attention to the alternatives.

2022 FTM price prediction

Largely, analysts are bullish on FTM for 2022 as they predict that the coin would breach its previous ATH price at $3.46, which it last visited in October 2021.

FTM trades at $2.96 with a 0.4% surge over the past one hour at press time. It is down -14.3% from its ATH.

However, analysts predict that FTM would hit $4.68, an 87% rise to its current price. Wallet Investors hinges its prediction on the fact that Fantom has been extremely bullish in the past 30 days. Additionally, Wallet Investor notes that three resistance points currently lie at $2.56, $2.64, and $2.70.

Gov Capital predicts a 2022 price of $4.12 for FTM. This represents an upside of 64%. The prediction is based on “deep learning processes,” which are factored into a custom algorithm. The custom algorithm includes volume, market cycles, and similar coins.

FTM continues to reek with many prospects as the foundation announced at the beginning of the year that it now has 1.5 million unique addresses in 2022. The number is an upsurge to 5,084 addresses it had in January 2021. It represents a 29,452% growth between 2021 and 2022.