The market opened today with enthusiasm, seeing a rebound after last week’s slippage. According to CoinGecko, the entire market is This led to the bulls overtaking the bearish momentum, pulling several altcoins to the top of the list. Fantom is one of those tokens hoping for a bullish reversal. Last week, FTM was down nearly 10%, but bulls initiative and the token is up almost 6% today. This, along with an upcoming release might make investors and traders buy into the market’s bullishness.
Magic Is In The Air With Fantom/Sonic x Alchemy Partnership
Last Saturday, July 27th, the Fantom Foundation and Sonic Labs started an a blockchain infrastructure company, discussing the pros of the partnership between the organizations.
🎙️ WE’RE LIVE w/ to discuss our partnership and its benefits for users/developers on Opera and !
🎤 Hosts: +
🤝 Guests: (Alchemy) + (Fantom/Sonic Labs)
— Fantom Foundation (Sonic Labs Coming Soon) (@FantomFDN)
The partnership was first announced on Fantom’s in the early half of July, citing that Alchemy’s expertise in the blockchain infrastructure realm makes them the ideal partner for Sonic’s launch.
According to the broadcast, Alchemy will power the Sonic Incentive Program, giving developers access to $5,000 to help with development on the upcoming Sonic platform. This means developers needing help finding funds for their projects will have an easier time building on the upcoming platform.
The incentive program is part of the broader 200 million $S token Innovator fund to help kickstart the transition from Opera to Sonic.
Fantom is currently trading at $0.472. Chart:
Sonic’s Big Potential
With Alchemy’s pros on the board, Fantom Foundation’s Sonic will have great performance, which according to Sam Harcourt of Sonic Labs, might lead to Sonic performing sub-second transaction finality, with “100s of millions of daily transactions.”
Sonic will also give another revenue stream for developers as it will allow them to collect 90% of the gas fees on the platform to boost revenue.
Promises aside, the announcements gave investors and traders something to hold on to. Improvements in the overall infrastructure of Fantom will lead to a better user experience, leading to more users signing up and more developers seeing value in the platform.
Although the market is bullish, FTM’s current position is weak with the bears continuing to hold on to their remaining momentum.
This will make the bulls more aggressive in the short to medium term, following the general market breakthrough that occurred today and will likely continue until the end of the week.
However, the bulls will have some difficulty in consolidating their position in the long run. FTM’s poor performance in the past month led to its stagnancy this July, leading to some investors and traders moving their money elsewhere.
If the bulls can maintain their steady ground, FTM might regain $0.6165 in the medium to long term.
Featured image from Fantom, chart from TradingView
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
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Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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