Coin Bureau Predicts At Least 100%-200% Rally For Fantom (FTM)

According to the host of Coin Bureau an Ethereum competitor with strong fundamentals could see a massive rally going forward.

In a recent strategy session, the crypto analyst known as Guy shared with Coin Bureau’s 1.55 million YouTube subscribers that FTM, the native token of the smart contract platform Fantom, which went up over 18,000% last year, still “has a lot more room to the upside.”

“This is because Fantom’s market cap is medium-sized and its fundamentals are significantly stronger than most of the cryptocurrencies that currently outrank it.

FTM’s tokenomics are also seriously robust. All FTM coins allocated to Fantom’s early investors, founders and advisers finished vesting last November.” 

At the time of writing FTM trades at $2.79 with 4.6% gains on the weekly chart, according to CoinMarketCap.

The analyst points out that the only FTM coins being introduced into circulation are coming from the asset’s staking rewards.

“This is happening to the tune of about 500,000 FTM per day, which is just under $1.5 million of daily sell pressure. Now, this small amount of sell pressure is being easily offset by the demand for FTM coming from the growing number of Fantom users and investors.

That said, there is likely some sell pressure coming from the Fantom Foundation’s massive developer fund, though this seems to be minimal, as any FTM awarded to devs is vested monthly over one year.”

Guy also notes that that more than half of FTM’s total circulating supply is being staked.

“And I’m sure most of it is being staked for more than the bare minimum. This reduction in available supply further increases FTM’s ability to fly.

Best of all, FTM has a maximum supply of 3.175 billion, which means inflationary issuance isn’t eating away at its price action.” 

According to the market analyst FTM could see another 100% to 200% gains during the rest of the current bull market, but says it’s well in the cards that FTM could go even higher.