{"id":642747,"date":"2024-09-18T15:00:08","date_gmt":"2024-09-18T15:00:08","guid":{"rendered":"https:\/\/wncen.com\/?p=642747"},"modified":"2024-09-18T05:09:56","modified_gmt":"2024-09-18T05:09:56","slug":"fantom-to-2-ftm-price-recovery","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fantom-news\/fantom-to-2-ftm-price-recovery\/","title":{"rendered":"Fantom To $2: Here\u2019s What\u2019s Driving The FTM Price Recovery"},"content":{"rendered":"

Fantom (FTM)<\/span><\/a> is enjoying much bullish momentum at the moment, and the odds of the coin rising to as high as $2 has increased. The FTM price recovery is thanks to Fantom\u2019s <\/span>fundamentals<\/span><\/a>, which have sparked a positive sentiment among investors.\u00a0<\/span><\/p>\n

What Is Driving The FTM Price Recovery<\/b><\/h2>\n

Fantom\u2019s price recovery is mainly driven by its bullish fundamentals, especially the imminent launch of the Sonic network. In a recent blog post, <\/span>Sonic Labs announced<\/span><\/a> that Sonic\u2019s launch is scheduled for November\/December 2024. Investors consider <\/span>Fantom\u2019s transition to Sonic<\/span><\/a> bullish, which explains why they are investing in the FTM ecosystem ahead of the launch.\u00a0<\/span><\/p>\n

Related Reading: Cardano (ADA) Enters Stage 3 That Will Trigger 4,500% Rally To $15<\/a><\/div>\n

According to the announcement, <\/span>the layer-1 network Sonic<\/span><\/a> will be EVM-compatible, enabling decentralized applications (dApps) built on other EVM chains to be integrated into the network easily. The network will provide a secure gateway to <\/span>Ethereum<\/span><\/a> through its layer-2 network.\u00a0<\/span><\/p>\n

The post also claimed that Sonic will provide the \u201cfastest settlement layer for digital assets with over 10,000 TPS and one-second confirmation times for transactions ” upon launch. This feat will set a new standard in the blockchain space and put Sonic ahead of its competitors.\u00a0<\/span><\/p>\n

Meanwhile, following Sonic\u2019s launch, there will be an airdrop, which will cause more liquidity to flow into the Fantom ecosystem and further spark the FTM price recovery. The Sonic Foundation will airdrop 190 million S tokens out of its 500 million treasury to <\/span>Fantom users<\/span><\/a>.\u00a0<\/span><\/p>\n

It is worth mentioning that FTM holders can swap their coins 1:1 for the S token, Sonic\u2019s native token, upon the launch of the new layer-1 network. Meanwhile, the S token will not experience any inflation in the first six months, which is positive since investors can rest assured that there won\u2019t be a supply shock following Fantom\u2019s transition to Sonic.\u00a0<\/span><\/p>\n

Other bullish fundamentals sparking the FTM price recovery include the fact that Andre Cronje, Sonic Labs\u2019s co-founder, will build new decentralized finance (DeFi) primitives, with 90% of gas spent said to be going back to applications and developers.\u00a0<\/span><\/p>\n

The Charts Also Support Fantom\u2019s Bullish Fundamentals<\/h2>\n

Crypto analyst Jagoilio <\/span>recently highlighted<\/span><\/a> how the charts support the FTM price recovery, with the coin likely to rise higher. He stated that Fantom has moved past its <\/span>bearish trend<\/span><\/a> and is now looking to break its diagonal resistance. He added that this presents the notion that the crypto is enforcing a bullish market structure and seeking a higher high.<\/span><\/p>\n

Related Reading: Analyst Identifies $0.75 As Most Crucial Target For XRP Price In The Campaign For $1<\/a><\/div>\n
\"Fantom
Source: X<\/figcaption><\/figure>\n

The analyst expects Fantom to enjoy a massive price rally in the fourth quarter, especially following the <\/span>Fed rate cuts<\/span><\/a> and the US presidential elections. Jagoilio went as far as asserting that FTM can <\/span>outperform Bitcoin and Ethereum<\/span><\/a>. He also claimed that Sonic will become the supreme layer-1 solution and outperform Solana.\u00a0<\/span><\/p>\n

According to data from CoinMarketCap, FTM is trading at around $0.57 at the time of writing, up over 9% in the last 24 hours<\/span>.\u00a0\u00a0<\/span><\/p>\n

\"Fantom
FTM price sees notable recovery trend | Source: FTMUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Fantom (FTM) is enjoying much bullish momentum at the moment, and the odds of the coin rising to as high as $2 has increased. The FTM price recovery is thanks to Fantom\u2019s fundamentals, which have sparked a positive sentiment among investors.\u00a0 What Is Driving The FTM Price Recovery Fantom\u2019s price recovery is mainly driven by its bullish fundamentals, especially the imminent launch of the Sonic network. In a recent blog post, Sonic Labs announced that Sonic\u2019s launch is scheduled for November\/December 2024. Investors consider Fantom\u2019s transition to Sonic bullish, which explains why they are investing in the FTM ecosystem ahead of the launch.\u00a0 Related Reading: Cardano (ADA) Enters Stage 3 That Will Trigger 4,500% Rally To $15 According to the announcement, the layer-1 network Sonic will be EVM-compatible, enabling decentralized applications (dApps) built on other EVM chains to be integrated into the network easily. The network will provide a secure gateway to Ethereum through its layer-2 network.\u00a0 The post also claimed that Sonic will provide the \u201cfastest settlement layer for digital assets with over 10,000 TPS and one-second confirmation times for transactions ” upon launch. This feat will set a new standard in the blockchain space and put Sonic ahead of its competitors.\u00a0 Meanwhile, following Sonic\u2019s launch, there will be an airdrop, which will cause more liquidity to flow into the Fantom ecosystem and further spark the FTM price recovery. The Sonic Foundation will airdrop 190 million S tokens out of its 500 million treasury to Fantom users.\u00a0 It is worth mentioning that FTM holders can swap their coins 1:1 for the S token, Sonic\u2019s native token, upon the launch of the new layer-1 network. Meanwhile, the S token will not experience any inflation in the first six months, which is positive since investors can rest assured that there won\u2019t be a supply shock following Fantom\u2019s transition to Sonic.\u00a0 Other bullish fundamentals sparking the FTM price recovery include the fact that Andre Cronje, Sonic Labs\u2019s co-founder, will build new decentralized finance (DeFi) primitives, with 90% of gas spent said to be going back to applications and developers.\u00a0 The Charts Also Support Fantom\u2019s Bullish Fundamentals Crypto analyst Jagoilio recently highlighted how the charts support the FTM price recovery, with the coin likely to rise higher. He stated that Fantom has moved past its bearish trend and is now looking to break its diagonal resistance. He added that this presents the notion that the crypto is enforcing a bullish market structure and seeking a higher high. Related Reading: Analyst Identifies $0.75 As Most Crucial Target For XRP Price In The Campaign For $1 The analyst expects Fantom to enjoy a massive price rally in the fourth quarter, especially following the Fed rate cuts and the US presidential elections. Jagoilio went as far as asserting that FTM can outperform Bitcoin and Ethereum. He also claimed that Sonic will become the supreme layer-1 solution and outperform Solana.\u00a0 According to data from CoinMarketCap, FTM is trading at around $0.57 at the time of writing, up over 9% in the last 24 hours.\u00a0\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":642749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92002],"tags":[167,6664,26263,14690,9376,92004,89676,43491,92005,86580,87826,85756],"class_list":["post-642747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fantom-news","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-fantom","tag-fantom-news","tag-fantom-price","tag-ftm","tag-ftm-news","tag-ftm-price","tag-ftmusd","tag-ftmusdt"],"acf":[],"yoast_head":"\nFantom To $2: Here\u2019s What\u2019s Driving The FTM Price Recovery<\/title>\n<meta name=\"description\" content=\"Fantom (FTM) is enjoying much bullish momentum at the moment, and the odds of the coin rising to as high as $2 has increased. 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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