Is Fantom the Next Ethereum Killer?
It’s been the year of the Ethereum killers, with cryptocurrencies like as Cardano, Solana, Polkadot, Avalanche, and others reaching new highs and garnering international attention. However, according to one expert, one project that has been missed and that has the potential to soar before the end of the year is Fantom Technologies Corporation (FTM). FTM is an excellent investment because of many aspects, including its impending Coinbase listing, Yearn Finance’s Andre Cronje’s return as a key developer, and a $1 billion ecosystem expansion fund, according to Coin Bureau.
Fantom has been mostly unnoticed while its more visible competitors have dominated the charts, yet the company’s success has been quite outstanding. It has risen by more than 18,000 percent in the last year, and it is now trading at $2.65 per share. It began the year at a paltry $0.016 per share. According to Guy, who runs the Coin Bureau YouTube channel, which has gathered 1.55 million members, FTM has a bigger upside than the other stocks.
In a recent video, he discussed the positive aspects of Fantom, forecasting that the stock would rise at least three times its present value during the current bull run. For starters, Fantom is technologically better than Ethereum, at least in terms of transaction speed.
It has the power to handle 20,000 transactions per second using its decentralised acrylic graph ledger, which is a long cry from the transaction processing capabilities of the Ethereum blockchain.
It uses the Ethereum Virtual Machine to power its smart contracts, enabling Ethereum developers to quickly and easily install their decentralised applications (dApps) on Fantom.
As a consequence, Fantom hosts a number of major Ethereum DeFi protocols, including Curve Finance, Cream Finance, and Yearn Finance, which together have a total value of around $5.5 billion locked in them. Fantom has a slew of additional advantages over its competitors apart from technological excellence. Andre Cronje, the DeFi tycoon behind the famous Yearn Finance, is one of these individuals. Cronje was a founding member of the Fantom Foundation, although he departed to work on Yearn after a short period of time. He’s back, at least for the time being.
Andre returned to Fantom as a core developer, and he has been at the forefront of some of the project’s most significant developments, according to Guy, who adds: “You could argue that Andre’s return to Fantom is the primary reason why FTM has reached new all-time highs, whether directly due to the hype or indirectly due to the staff that he is building on Fantom.”
Haven’t been this excited about projects since I started thinking about launching $YFI.
What we are building next for $KP3R and $FTM is going to be insane.
I truly believe olm, v3 incentives, and Artion+NFT bridges will change the game
— Andre Cronje 👻 (@AndreCronjeTech) September 1, 2021
In addition to Andre, Fantom has drawn the attention of other prominent figures and organisations in the cryptocurrency sector. The Fantom Foundation has received funding from Alameda Research, which is managed by bitcoin millionaire and FTX exchange creator Sam Bankman-Fried. Alameda Research is a cryptocurrency investment firm.
A Y-Combinator-style incubator for the Fantom ecosystem is being sought by the venture capital companies that have made investments in the company. Guy indicated that this will serve as an incubator for initiatives based on Fantom. There’s also the impending Coinbase IPO to consider. It was announced in September that the Coinbase wallet will now include support for native FTMs, which Guy feels “may herald the arrival of native FTM listings on the Coinbase exchange.”