What Will Be My Portfolio if Fantom (FTM) Price Hits $10?
The post What Will Be My Portfolio if Fantom (FTM) Price Hits $10? appeared on BitcoinEthereumNews.com.
The global crypto market is witnessing price drops across the board, even as the current downturn has taken precedence. Amidst this, Fantom (FTM) has recorded a bearish trend, with its value dropping by 30%, over the past 30 days. However, today, the token has displayed signs of improvement, reigniting interest from investors. In the midst of the ongoing market volatility, there is still significant growth potential for Fantom, prompting the consideration of how my portfolio would be impacted by a $10 value for Fantom. Understanding Fantom (FTM) Fantom is a decentralized platform for smart contracts, created to overcome the restrictions of previous blockchain versions such as Ethereum. By utilizing a directed acyclic graph (DAG) structure and a custom consensus algorithm, Fantom achieves improved transaction speeds, frequently finalizing transactions in less than two seconds. This platform strives to achieve a balance between scalability, security, and decentralization, offering developers a wide range of tools. Market Performance of Fantom (FTM) Fantom is currently trading at $0.582, after rising in value by 2.62% in the past day. However, the token has faced challenges in the broader timeframe, declining in price by 10% and 31.71% over the past week and month respectively. FTM has also seen a slight rise in its market cap, to reach approximately $1.63 billion, with a trading volume of $177 million, over the past 24 hours.Although the token reached its all-time high on $3.48 in October 2021, it has since dropped by 83.29%. Scenario Analysis: Investing in Fantom Let’s look at three hypothetical investment scenarios, where Fantom price rises from its current price of $0.582 to $10, to understand potential returns. Put in mind that related taxes and fees are not included. Scenario 1: Investing $500 Let’s assume that you are a new investor trying to deep your toes in the…
Filed under: News - @ June 21, 2024 9:20 pm