Fantom Price

Fantom’s FTM is a relatively new entrant into the world of cryptocurrencies but has managed to capture the attention of many investors in this short span of time. In 2020, the FTM price rose by almost 60% while 2021 saw the Fantom price soar by over 13,700%.

Fantom was one of the top performers of the crypto market in 2021 on the back of its rising popularity among DeFi protocols, with the FTM price and market cap soaring through the crypto bull run of 2021. In addition, the Fantom Foundation’s initiative to make the ecosystem supportive for BEP-2 and ERC-20 tokens also caught the eye of crypto investors.

The Fantom price hit an all-time high of $3.48 on 28 October 2021 and has enjoyed a place in the top 50 cryptos by market cap. Even through bearish cycles and stiff competition, FTM has managed to enjoy high trading volume.

Looking ahead, the FTM price could make further gains and provide strong ROI to its investors on the back of rising adoption of DeFi protocols among users. Increasing Fantom’s interoperability features can also make the FTM crypto an attractive digital asset to invest in.

The FTM token is the native cryptocurrency that can be used on the Fantom Opera mainnet. In addition, the circulating supply of FTM consists of two other forms as well - as ERC-20 tokens and as BEP-2 tokens.

The ERC-20 Fantom token cannot be used directly on the Opera network and needs to be swapped so that it can be used within this ecosystem. While Fantom Opera uses a structure similar to that of Ethereum for wallet addresses, they do not function in the same way.

You can bridge FTM from Ethereum to the Fantom network using DEXs and multi-chain bridges, e.g., Multichain.org. Let’s look at how to transfer FTM from Ethereum mainnet to Fantom Opera with Multichain.org:

1. Create a MetaMask wallet and fund it with sufficient FTM (ERC-20) and ETH tokens to pay gas fees. Ensure that your Network is set to Ethereum Mainnet (default).

2. Visit Multichain.org and connect your MetaMask wallet to its interface.

3. Once your wallet is connected, select the FTM token and Ethereum network in the From section. Add FTM and Fantom in the To section in the Multichain.org page.

4. Enter the number of FTM tokens you wish to bridge from Ethereum to Fantom and click on Swap. Confirm the swap transaction on Multichain.org and MetaMask.

5. A couple of minutes later, your MetaMask account will be funded with FTM tokens on the Fantom Mainnet.

FTM is not available for staking on cryptocurrency exchanges as of April 2022. You can only stake FTM from the Fantom fWallet at the moment. Here’s how you can stake $FTM using Fantom fWallet

1. Create a Fantom fWallet and fund it by buying FTM on KuCoin or other supported platforms and withdrawing your tokens into it.

2. Use the Staking option in the menu bar and select Delegate.

3. Enter the amount of FTM tokens you wish to stake, starting from a minimum of 1 FTM.

4. Select a validator from the dropdown list to find an active validator you can stake your FTM to and then get started. Validators are eligible to receive 15% of the staking rewards you earn as a delegator.

5. Sit back, earn rewards, and grow your crypto holdings by staking FTM.

The Fantom Opera network enjoys full EVM compatibility, which means it can support Ethereum smart contracts written in Solidity or Vyper. In addition, it has also integrated with Binance Chain to support BEP-2 tokens within its ecosystem.

Fantom is also compatible with Cosmos SDK, letting developers use its aBFT consensus mechanism as a base layer to create applications using the Cosmos SDK.