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Fantom was created as a rival to Ethereum back in 2018 and is essentially a smart contract platform for decentralized applications (also known as dApps). It is designed to allow anyone to build crypto apps in mere seconds, with ultra-fast and cheap transactions.

The aim of the founders is to facilitate the merging of blockchain with corporate transactions, especially in the financial and legal industries. In just a couple of years, Fantom has emerged as one of the world's most popular blockchains for DeFi transactions. As a result, its native coin - Fantom - has emerged as a serious rival to coins like Ether, with its fluctuating price reflecting this.

Like many other cryptocurrencies, the Fantom crypto price is driven largely by general market sentiment. This is evident in its price history, with its price rising to an all-time high of $3.1 per coin in January 2022, before crashing significantly in the ensuing crypto bust that has affected nearly every coin in the following months.

However, this is not the only factor that affects the Fantom price. Due to the strong real-world applications of the Fantom network, its price has been influenced by its wider adoption by major public and private actors.

Fantom has signed MOUs with the governments and financial authorities of Tajikistan, Afghanistan, and Pakistan over the past year, with each deal helping to bump its price up, at least in the short term. However, the Fantom price has languished below $1 for the early months of 2022.

As a crypto trader, you have the choice of either buying Fantom on an exchange and holding onto it as a long-term investment or attempting to exploit its volatility through short-term trading. Despite its growing uptake among major government clients, Fantom's price is as volatile as it comes.

Its price can spike significantly in just a few hours, before falling rapidly the following day. For this reason, ambitious day traders and scalpers who wish to profit from these rapid booms and busts might find this intense volatility appealing. For long-term investors, the hope that Fantom will become more widely adopted and push up the long-term price is the main motive for holding Fantom coin.