The host of popular cryptocurrency analysis and market commentary show Coin Bureau says that Ethereum competitor Fantom (FTM) has fundamentals that still look “extremely strong.”
Here is a little introduction from the Fantom team to this exciting crypto project:
“Fantom is a high performance, scalable and secure smart contract platform. It is designed to overcome the limitations of previous generation blockchain platforms. Fantom is permissionless, decentralized, and open source. Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be much faster and cheaper than previous technologies, yet extremely secure.”
According to a report by The Daily Hodl, in a YouTube video posted on March 17, the Coin Bureau host had this to say about FTM:
“As I was shooting this video, it is down almost 3x from its all-time high, and I see a nasty double-top pattern on the long-term price charts. You don’t want to know where the target is if that pattern breaks down, trust me…
Before you panic, though, take a moment to consider the fact that Fantom’s fundamentals still look extremely solid. For starters, all of the FTMs assigned to the team and early investors finished vesting at the end of 2020 and have likely already sold a substantial amount of that FTM. This is good because it means there will be fewer FTMs to sell in the future and therefore less price suppression they can cause.”
Regarding the adoption of Fantom, he said:
«Fantom has more than 2.5 million unique wallet addresses. And this trend does not seem to be slowing down… An even more important on-chain metric is the number of daily transactions which has plummeted a bit but nonetheless remains in a strong long-term uptrend… In terms of total value locked, Fantom has seen some slowdown on that side as well, but is also in a long-term uptrend.”
