- Fantom is better, at least in its technology than Ethereum.
- Cronje was one of the initial team members of the Fantom Foundation.
It’s been the year of Ethereum killers, with Cardano, Solana, Polkadot, Avalanche, and others achieving new highs and garnering worldwide headlines. But according to one analyst, one initiative that’s been missed and that might rocket by the end of the year is Fantom (FTM). Looking at the optimistic elements that make FTM a smart investment, including a pending Coinbase listing, Yearn Finance’s Andre Cronje’s return as a key developer, and a $1 billion ecosystem expansion fund.
Fantom has gone under the radar while its more flamboyant competitors tore the charts, but its performance has also been extremely outstanding. It has gained a staggering 18,000+ percent to trade at $2.65 at press time in the last year. It began the year at a measly $0.016.
Guy, an analyst with 1.55 million subscribers on his Coin Bureau YouTube channel, believes FTM has further potential. In a recent video, he pointed out the bullish elements for Fantom, projecting that it would attain at least 3x in gains in the current Bull Run.
For one, Fantom is better, at least in its technology, than Ethereum. With its decentralized acrylic graph ledger, it can perform 20,000 transactions per second, a long cry from Ethereum’s transaction processing power.
It utilizes the Ethereum Virtual Machine for its smart contracts, enabling Ethereum developers to deploy their Dapps on Fantom. Consequently, Fantom supports a number of major Ethereum DeFi protocols, including Curve Finance, Cream Finance, and Yearn Finance, which have around $5.5 billion in total value locked.
The DeFi Giant
Fantom has many additional variables going its way other than technological supremacy. Andre Cronje, the DeFi giant behind the well-known Yearn Finance, is one of them. Cronje was one of the initial team members of the Fantom Foundation but departed to work on Yearn. He’s back now.
Besides Andre, Fantom has caught the attention of other important cryptocurrency leaders and corporations. Sam Bankman-Alameda Fried’s Research has invested in the Fantom Foundation.
The VCs that invested in Fantom want to create an ecosystem Y-Combinator. Guy indicated this would foster Fantom-based initiatives. Then there’s the Coinbase listing. It also enabled native FTM functionality in September, which Guy feels could anticipate FTM listing on the Coinbase exchange.
Recommended for You
