<

Analyst Matthew Ronald expects this altcoin to follow Solana (SOL) price path

Popular crypto KOL Matthew Ronald from Altcoin Buzz shares with his subscriber a baselayer blockchain named Fantom (FTM) that is aiming to compete with Ethereum (ETH), Cardano (ADA), Solana (SOL), Avalanche (AVAX), and Polkadot (DOT).

Fantom (FTM) overview

Fantom (FTM) is a new DAG-based Smart Contract platform that intends to solve the scalability issues of existing public distributed ledger technologies.

“The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by attempting to employ an improved version of existing DAG-based protocols,” the trader says.

The crypto KOL also mentions that Fantom is highly secure. Its validator nodes form a global, trustless, and leaderless proof-of-stake network. It provides a very high-speed transaction medium at a very low price. It can process thousands of transactions per second and scale to thousands of nodes. Moreover, it is developer-friendly as it is EVM compatible. Ethereum dApps can be run and compiled on Fantom.

FTM tokenomics

Fantom’s $FTM token is was trading at $1.23 with a market cap of $3 billion. According to the analyst, if FTM stays above its support of $1.2, FTM could move towards $1.37, $1.49, $1.61, $1.78, and $2.00.

If the resistance at $2.00 flips to support, we could start seeing a move towards $2.63, $3.65, and $4.67. Failure to hold the support at $1.22 could lead to a drop towards $0.98.

Read more:

You might also like

LATEST NEWS

LASTEST NEWS