Fantom FTM - Smart Money Concepts Analysis

Fantom's native utility token — FTM — powers the entire Fantom blockchain ecosystem. FTM tokens are used for staking, governance, payments, and fees on the network. There is a total supply of 3.175 billion FTM coins, with 2.5 billion in circulation as of March 2021

Fantom is a blockchain platform offering ledger services to businesses and applications. The network intends to operate as open-source so that anyone can use it and customize it to their needs. The platform is permissionless; therefore, anyone can run code. Also, the network seeks to develop an infrastructure for a more connected and efficient future so that people can benefit from technological breakthroughs to better the quality of their lives.

FTM, an ERC20 token (a standard for creating and issuing smart contracts on the blockchain), is the native currency of the platform. The coin is used for safeguarding the network via a proof-of-stake system. The tokens can be used to send and receive payments and maintain on-chain governance. To participate in the voting process to propose any changes and improvements, users need to have the FTM token. The coin can also be utilized for paying network fees, smart contracts’ deployment fees, transaction fees, etc.

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