Fantom (FTM) - a cryptocurrency that has been sold mainly through private sale

Only 1,57% of the total supply of tokens Phantom (FTM) could be bought in open sale. The interest of institutional investors was enough for the cryptocurrency to spread like hot cakes. Today it has worth over USD 1,4 billion and has just beaten historic highs.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Fantom - a cryptocurrency that has just broken its all-time price record and, even after the correction, is still pushing ahead of the top-capitalized projects in the blockchain industry.

The sale of tokens is not for everyone 

The Fantom tokens were initially distributed mainly through private sale, during which they sold out 37,04% of supply. They traded at an average rate of $ 0,016 apiece. In the second round, Fantom tokens already cost an average of $ 0,031. They were also purchased primarily by institutional investors and people who started cooperation at the early stage of the project.

How the Fantom blockchain works

The phantom is a platform in blockchain technology, which is aimed primarily at those who want to operate easily and safely smart contracts. Special DAG technology makes the network reliability not only theoretical, but also proven in practice. The data is exchanged in real time, and everything is supervised by an automatic virtual machine, which regularly checks the accuracy of events and thus increases the network efficiency.

It also provides easy payments, which are secured by digital control (DCRM). Thanks to this, you can also quickly, cheaply and, above all, safely transfer money between chains, because smart contracts are most often developed in the Solidity language (Ethereum networks), which makes it easy to connect the chains while maintaining their independence.

Everything is supervised by an experienced team of programmers and technical advisers. Among them, among others Ahn Byung Ik (founder), PhD in Information Science at Yonsei University and President of Korea FoodTech Association, and co-founder of the SikSin food technology platform; David Richardson (director), i.e. former CEO of Mid-Ocean Consulting Ltd., president of Oceanic Bank and Trust; Michael Kong (IT director) is a former technical director at Digital Currency Holdings, an advisor to the Enosi Foundation and a programmer at Block8 or Ashton Hettiarachi (head of Innovation), CEO of Blockchain Partners Holdings, and a co-founder of the Innovate Society.

What is the Fantom token for

The Fantom network, of course, has its own cryptocurrency. The FTM token takes part, among others in ensuring network security. The more FTM tokens on the account, the higher the node that approves transactions is located. Therefore, in this network, those who have invested the most in tokens earn the most. So buying and collecting pays off, which of course translates into an increase in the rate. 

Transaction fees are also paid at the FTM, although other cryptocurrencies are also allowed.

In addition, cryptocurrency holders can vote on proposals to change the structure of the main network, influence the selection of the technical committee of the level of remuneration for staking, etc.

FTM Cryptocurrency Quotes

FTM tokens can currently be traded on 24 Cryptocurrency exchanges from all over the world, including the largest stock exchange BINANCE. 2 units are in circulation, out of a target of 120 units. On May 656, 493, each of them is valued at USD 2, which translates into a capitalization of over USD 138 billion, after dynamic growth by as much as 153% in the last 791 months only. The peak of trading took place on May 14, 2021, when $ 0,68 was already paid for each FTM token.

Fantom (FTM) token chart, interval D1. Source: Binance.com