Fantom is supposedly a better version of Ethereum, similarly to how Shiba Inu is Dogecoin’s competitor.
The coin has been performing well recently and has even risen in price.
Last month the coin hit $3.47, but has dropped to $3.07. Analysts predict it going up again the future.
Today, CoinMarketCap lists the coin at $3.00. A lot of what may be driving the price up is people thinking it may be as big as Ethereum, the second biggest coin after Bitcoin.
What do I need to know about Fantom?
The coin was created by a computer scientist in South Korea in 2018, and it’s a blockchain platform that runs smart contracts, or programs that run advanced transactions. This means it can run more complex transactions than just sending cryptocurrency from one person to another. This makes owning NFTs possible.
While analysts are predicting prices to the best of their abilities, it doesn’t mean they’re accurate.
Bitcoin crashed recently and the market lost hundreds of billions in cryptocurrency. Predictions also say Shiba Inu could crash.
Related: Cryptocurrency prices are changing, with Bitcoin, Dogecoin, and Ethereum rising while Shiba Inu drops
Get the latest headlines delivered to your inbox each morning? Sign up for our Morning Edition to start your day. FL1 on the Go! Download the free FingerLakes1.com App for Android (All Android Devices) or iOS (iPhone, iPad).