Ftm price on 24 25 December

Answered at Dec 15, 2024

Fantom (FTM) Price Overview for December 24-25, 2023

Recent Performance and Trends

Fantom (FTM) has shown a positive trend in recent months. As of early December 2023, FTM was trading at approximately $0.344323, having gained 3.09% in the last 24 hours (CoinCodex). Over the past 30 days, FTM has increased by 29.40%, indicating a strong upward momentum. The medium-term trend has also been bullish, with a 71.80% increase over the last three months (CoinCodex).

Price Prediction for December 24-25, 2023

Based on the current trajectory and market analysis, FTM is expected to reach approximately $0.427700 by December 12, 2023, representing a 25.73% increase from its early December price (CoinCodex). Given this trend, it is reasonable to anticipate that FTM could maintain or slightly exceed this price range by December 24-25, 2023, assuming no significant market disruptions.

Factors Influencing FTM's Price

  1. Technical Developments: Fantom's recent upgrades, such as the mainnet enhancements that improve transaction speed and efficiency, have positively impacted its price. These upgrades make Fantom more attractive for decentralized finance (DeFi) applications, potentially driving further demand (Investopedia).

  2. Market Sentiment: The overall bullish sentiment in the cryptocurrency market, as evidenced by Bitcoin's rally to a nine-month high, has also contributed to FTM's upward trend (Reuters).

  3. DeFi Growth: Fantom's focus on DeFi services and its strong financial reserves, including over $100 million in stablecoins, position it well for sustained growth. The platform's ability to generate over $10 million annually, excluding capital gains, further supports its long-term viability (Investopedia).

Historical Context

FTM reached its all-time high of $3.47 on October 28, 2021. Since then, it has experienced significant volatility, with a cycle high of $0.654477 and a cycle low of $0.164761 (CoinCodex). Despite this volatility, the recent trend indicates a recovery and potential for further gains.

Conclusion

Fantom (FTM) is expected to continue its positive trend through December 24-25, 2023, with a projected price around $0.427700. This outlook is supported by recent technical upgrades, favorable market conditions, and the platform's strong financial position. Investors should remain aware of market dynamics and potential volatility, but the current indicators suggest a promising short-term future for FTM.