It was the year of the Ethereum killers, with Cardano, Solana, Polkadot, Avalanche and others reaching new highs and taking headlines around the world. But according to one analyst, one project that has been overlooked and that could take off before the end of the year is Fantom (FTM). Coin Bureau looked at some of the bullish factors that make FTM a great investment, including a looming list from Coinbase, the return of Yearn Finance's Andre Cronje as lead developer, and a $ 1 billion ecosystem growth fund.
The reasons for the rise
Fantom went unnoticed as its more flashy rivals climbed the charts, but its performance was also very impressive. Over the past year, it has earned a whopping 18.000 percent for a listing of $ 2,89 at press time. It started the year at just $ 0,016.
Guy, the analyst whose Coin Bureau YouTube channel has amassed 1,55 million subscribers, believes FTM has a greater advantage. In a recent video, he highlighted the bullish factors for Fantom, predicting that it will reach at least 3x the gains in the current bullish run.
For one, Fantom is superior, at least in its technology, to Ethereum. It can execute 20.000 transactions per second through its decentralized acrylic chart ledger, a far cry from Ethereum's transaction processing capability.
Leverage the Ethereum virtual machine for its smart contracts, allowing Ethereum developers to easily deploy their dApps on Fantom.
As a result, Fantom hosts a number of the best Ethereum DeFi protocols, including Curve Finance, Cream Finance, and Yearn Finance which have a total locked-in value of approximately $ 5,5 billion.
Andre Cronje, NFT, looming Coinbase listing
Fantom has many other factors going its way besides technical superiority. One of them is Andre Cronje, the DeFi titan behind the popular Yearn Finance. Cronje was one of the original team members of the Fantom Foundation, but left to work on Yearn. Well, now he's back.
Andre has returned to Fantom as lead developer and has been behind some of the project's recent big moves, notes Guy, adding:
"It could be argued that Andre's return to Fantom is the main reason why FTM has reached new all-time highs, either directly due to the hype or indirectly because of the staff it is building on Fantom."
In addition to Andre, Fantom has also attracted the attention of other major leaders and companies in the cryptocurrency industry. Alameda Research, led by cryptocurrency billionaire and FTX exchange founder Sam Bankman-Fried, has invested in the Fantom Foundation.
Venture capital firms that have invested in Fantom are looking to build a Y-Combinator for the ecosystem. That would include Fantom-based projects, Guy revealed.
There is also the looming list on Coinbase. In September, the Coinbase wallet added support for native FTMs, which Guy says "could foreshadow the FTM listing on Coinbase."
Meanwhile, come on Bitcoin Pro it is already possible to trade numerous cryptocurrencies, including the most popular. It is a solid and secure platform, of which many are already taking advantage of its numerous technical capabilities.
