Fantom (FTM) can thus record a 2-3-fold increase

Ethereum has developed into one of the most successful and powerful cryptocurrencies in recent years. In the past few months, however, many “Ethereum destroyers” have gained momentum.

Yes, it was originally Solana (SOL), but now Fantom (FTM) outperforms them all. According to analysts, Fantom has a lot of potential because of its unique protocols and consensus mechanism.

A popular analyst at the Coin Bureau recently said that FTM, the native asset for the Fantom smart contract platform, still has “plenty of room to explode.” This is an interesting comment despite having grown 18,407% over the past year.

“That’s because Fantom’s market cap is medium-sized and its fundamentals are significantly stronger than most of the higher-ranking cryptocurrencies out there. FTM’s Tokenomics is also very powerful. All FTM tokens allocated to Fantom investors, founders and first-time advisors were closed last November. “

Interestingly, the liquidity supply curve shown in the chart below shows the same thing.

Source: Youtube

In addition, despite the 8% correction at the time of going to press, FTM stuck to its bullish narrative. It is currently at the $ 2.65 mark. Still, the analyst remains unimpressed by his bullish outlook.

“The new FTM that is going into circulation comes from staking rewards at around 500,000 FTM per day, which is less than $ 1.5 million / day of selling pressure. Currently, this low sales pressure is offset by the demand for FTM from the growing number of Fantom users and investors. “

However, there could be selling pressure from the Fantom Foundation’s huge developer fund.

It can be seen that in any case more than half of the circulating FTM supply is staked out.

Source: YouTube

The analyst continued:

“Most of it is staked out more than the bare minimum. This decrease in available supply further increases the potential for an FTM boom. In addition, FTM has a maximum supply of 3.175 billion, which means that an inflationary release will not affect its price development. “

“Given the data above, I think the FTM could go up 2-3x for the remainder of this bull cycle.”

In the meantime, “FTM can pump higher” with a promising roadmap and enthusiastic support from members of the ecosystem independent of FUD. For example, the tweet below perfectly explains why the analyst at Fantom is bullish.

https://twitter.com/bitcoinmanbear1/status/1455659057260347394?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“FTM enters the phase of enthusiasm”.

Overall, Fantom’s uptrend looks strong despite the 30% correction after hitting an ATH near $ 3.50.

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Mr. Teacher

According to AMBCrypto