A well-regarded analyst is suggesting that a competitor to Ethereum (ETH) is on the brink of igniting significant price surges and catching up to other prominent cryptocurrencies.
In a recent video update, the anonymous analyst known as Rager shared with his 197,800 followers on the social media platform X that he holds strong convictions regarding Fantom (FTM) as one of his top trades for the upcoming year. Rager believes that Fantom’s impending transition to the Sonic platform could allow the altcoin to reach previously established all-time highs.
“By examining the Fantom chart, you can gauge its potential for growth. The all-time high close hovers around $3.30 to $3.50, which would only reflect a market capitalization of about $10-$11 billion. Currently, Fantom’s market cap is under $2 billion, priced at approximately $0.70. In comparison to other Layer 1s, Layer 2s, and various other cryptocurrencies, I foresee Fantom or Sonic taking a prominent position, potentially landing in the top 20. I genuinely believe that it could again surpass its all-time highs, especially considering the bullish implications of the Sonic migration. The current valuation presents a very favorable opportunity,” he stated.
Sonic is described as Fantom’s next-generation blockchain, designed to elevate the network’s capabilities to unprecedented levels, with the capacity to handle 2,000 transactions per second. This new technology aims to reduce storage requirements by as much as 90%, according to project information.
Fantom’s migration to Sonic is expected to occur in the fourth quarter of this year, although the specific date remains unconfirmed.
Rager further elaborates that he sees Fantom having the potential to replicate the explosive growth experienced by Solana (SOL) from September 2023 to March this year.
“I believe that any price point below a dollar is favorable for Fantom, especially in light of the current chart. There’s a significant gap that needs to be bridged over time. We witnessed Solana’s rapid ascent from $20 to $200—a tenfold increase. Can we anticipate something similar for FTM? Absolutely. I think it could exceed $3 to $4 or even much higher,” he remarked.
As of now, FTM is trading at $0.67.
Stay Updated –
Subscribe to receive email notifications straight to your inbox.
Check Price Movements
Follow us on X, Facebook, and Telegram.
Explore The Daily Hodl Mix
Disclaimer: The views expressed in The Daily Hodl do not constitute investment advice. Investors should conduct their own research before engaging in any high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Please be aware that any transactions or trades are made at your own risk, and any potential losses are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and is not an investment advisory service. Additionally, The Daily Hodl engages in affiliate marketing.
