Bitcoin, Ethereum and Phantom Price Prediction to Rise 28% in Seven Days

Bitcoin has struggled to rise above $17,250 this morning and is now at $17,033, up 0.3% in one day. Similarly, after hovering around $1,300, Ethereum dropped 1% in 24 hours and is now consolidating around $1,261.

Overall, the cryptocurrency market fell just 0.1% in 24 hours to reach $853 billion. With trading volume consistently constant, DeFi volume accounts for roughly 6% of transactions, with stablecoins accounting for the remaining 94%.

The most notable gains and losses in the market

Among the cryptocurrencies that have risen in price over the past day, we can note:

Celo (CELO): Up more than 10% to $0.6625.
Aptos (APT): Up more than 6.5% to $5.30.
Nexo (NEXO). : up almost 5% to $0.7309.

Best and Lost Altcoins - Source: Coin360

Among the losses, cryptocurrencies suffer the most:

UNUS SED LEO (LEO): 7% decline to $3.75.
GMX (GMX): Nearly 5.5% loss to $54.75.
KLAY: Dropped more than 2.85% to $0.1875.

bitcoin price

Bitcoin’s current price is $17,033 and the 24 hour trading volume is $16 billion. Its actual market capitalization is $357 billion, almost unchanged from yesterday.

Bitcoin price and tokenomics - Source: coinmarketcap

The trading range for BTC today is $16,800 to $17,250. With a 23.6% Fibonacci retracement at $16,900 and candles close below $16,950, BTC could drop to the next resistance level at $16,750.

Bitcoin price chart - Source: Tradingview

If he breaks this level, he could flirt with the $16,600 level or even reach the $16,450 level. On the other hand, if it quickly manages to break the $17,250 resistance level, Bitcoin could rise to $17,650 or $18,100.

Ethereum Price

With a price of $1,261 and an exchange volume of $5.6 billion, Ethereum lost almost 1% in one day and now has a capitalization of $154 billion with 122,373,866 coins in circulation.

Ethereum price and tokenomics - Source: coinmarketcap

Ethereum still failed to overcome the $1,300 psychological trading level and continued its downward correction. However, the 50-day moving average holds the cryptocurrency at $1,240. With immediate support at $1,225, a fall could push the price up to $1,150.

Ethereum price chart – Source: Tradingview

The two indicators MACD and RSI are still diverging and reflect market indecision for a few more days. Despite everything, the 50-day simple moving average (SMA) still reflects the buying trend, which can be a source of hope.

An upward crossing of the $1300 level could indeed push the price of ETH towards the $1354 level.

Fantom gains 28% in seven days

Fantom’s current price is $0.24034 and the 24-hour trading volume is $119 million. Fantom is down 1.75% in the last 24 hours but is up 28% in a week.

Fantom price chart - Source: Tradingview

The capitalization of this cryptocurrency is 611 million dollars (the 65th rank of cryptocurrency) with 2,545,006,273 coins in circulation.

Using Fantom (FTM) to Overcome EVM Limitations

To address the technical design issues that plague the Ethereum Virtual Machine (EVM), a recent article suggests using Fantom (FTM), a next-generation smart contract platform that uses parallel computing.

Balance Capital, an investment and infrastructure firm specializing in the Fantom cryptocurrency, released a note on December 2, 2022 detailing the main limitations of the Ethereum Virtual Machine (EVM) and how the Fantom Virtual Machine overcomes them.

Compared to what is possible with the EVM, the main goal of the Fantom VM is to achieve much higher throughput. Fantom (FTM) can process hundreds of transactions while Ethereum (ETH) can only process 18.

Balance Capital believes that the EVM is overly conservative as it has not been updated since its early versions. Because of this, developers may find the Phantom’s constantly updated mechanics more appealing.

IMPT pre-sale ends soon: only a week left before the purchase

IMPT is another Ethereum-based network that will reward users for doing business with green companies. These benefits will be provided through the IMPT token, which can be used to earn NFT-based carbon offsets that can be sold or recalled.

IMPT has raised over $13.6M since its IPO in October, with 1 IMPT currently trading at $0.023.

IMPT.io, a revolutionary platform for carbon offset and carbon credit trading, will end its token pre-sale on December 11 due to its extraordinary success.