The famous analyst Coin Bureau thinks that the crypto, which is among the competitors of Ethereum, can start a new rally.
Analyst thinks FTM, the native token of smart contract platform Fantom, to 1.55 million YouTube followers, can still push further upwards, despite its staggering 18,407 percent increase over last year.
“This is because Fantom has a medium market cap and its fundamentals are fundamentally much stronger than most of the crypto assets currently outpacing it”
The analyst states that the circulating FTM tokens come from staking rewards only.
“This translates to about 500,000 FTMs per day. This is under the daily sales pressure of $ 1.5 million. This small amount of selling pressure is easily offset by increased Phantom users and incoming FTM demand.”
The crypto analyst also noted that more than half of the circulating supply of FTM is staked.
“I’m sure many are stacking for more than the minimum. This decrease in current supply may further increase the upward movement of FTM.”
Coin Bureau predicts a 100% to 200% gain for Phantom for the remainder of the current bull market.
