We continue our series of predictions of newly listed coins on Binance cryptocurrency exchange. FTM coin is pretty non-ordinary as its underlying platform (Fantom) has been designed for smart cities.
What is Fantom Foundation?
Fantom is “the nervous system for smart cities”. Judging by this analogy, it can be assumed that the platform coordinates actions in a city, detect external and internal changes, reacting accordingly.
The technology of the platform is based on DLT and DAG (Directed acyclic graph), which is used in computer science and artificial intelligence.
Fantom is uniquely positioned as an IT solution for smart cities. The key goal of smart city is simplifying people’s lives by improving infrastructure, environment, healthcare, comfortability, and safeness.
Smart city is not a futuristic phenomenon, a lot of such cities already exist (say, Barcelona, Hong Kong, Singapore, Shanghai, Dubai, Copenhagen, Milan, San Leandro (California), Taipei, and Songdo International Business District). They implemented existing technologies to some extent. Fantom offers smart-city-related solutions that can be used in public utilities, smart living, healthcare, education, traffic management, resource management, and environmental sustainability.
The Project’s Team
Let’s get acquainted with some representatives of the Fantom team:
- Anh Byung Ik, the CEO, PhD in computer science;
- Michael Kong, CIO, a smart contract developer;
- Guillaume Drevon (the Chief Technology Officer of Sikoba Research, cryptoghraphy specialist, who is focusing on secure computation);
- Ashton Hettiarachi, the CEO at Blockchain Partners Holdings, an investment firm located in Australia;
- David Freuden, a person responsible for partnerships, helps the project to commercialize its developments.
The coin of the platform should have the following functionalities: rewarding node holders on a ranking basis, paying transaction fees, and voting on governance proposals.
FTM coins have crosschain existing both on ERC-20 and BEP2 platforms. FTM performed well amidst brouhahas and activated trading activity (not only on Binance but also on other coin exchanges). Its price spiked by about 50% after listing announcement. CEO Binance congratulated the project on getting to Binance from Binance DEX.
It is also available at KuCoin, BitMax, HotBit, Bilaxy, IDEX, and some others (21 in total, at the time of reviewing).
August 2019 was rich in events. The altcoin was listed on Beaxy, the all-in-one crypto exchange; governance proposal for Mainnet was offered, several technical updates were implemented. In addition, Weiss Crypto Rating agency (Florida) advised its customers to pay attention to Fantom and Cardano which seem to be promising altcoins. The reasoning included the fact that FTM supports the technology of coincident processing of several transactions by validators. This allows for a tremendous increase in the speed of payments, unlike BTC, where all miners shall confirm each transfer.
FTM Price Prediction 2019-2020
Let’s start with some predictions by forecast websites:
- Wallet Investor: $0.0374 in 1 year, $0.117 in 5 years (this prediction cannot be called optimistic);
- BitGur: about $0.03 in October 2019;
- Digitalcoinprice: averagely $0.03 for 2020, a non-rousing forecast;
- CoinCheckup: 312.61% price movement in 200 days.
Regarding our opinion, the project’s team has chosen the right direction. There are a few smart cities in the world nowadays, so the platform has a room for growth, which would positively influence the price of FTM token. We predict approx. $0.05 by the end of the current year (but the condition of the whole market and Bitcoin performance would play a decisive role).
Disclaimer. Don’t treat this prediction as investment advice. You should be forewarned that the cryptocurrency market is often behaves unpredictably, despite generally favorable fundamentals.