3 Reasons 2022 Will Be The Year Of The Fantom Blockchain and Why Crypto Investors Should Buy The Dip
Fantom (FTM) is on of the fastest growing chains so far in 2022.
In a matter of months FTM has flipped Solana and Avalanche, now with over $10B in value locked in the protocol. Despite its meteoric rise, the market capitalization of FTM has not yet caught up.
I believe given FTM’s momentum, Dev friendly attitude, large LTV base. FTM will outperform most other L1s in 2022.
/ FTM has more wallets registered than AVAX
Despite it’s limited connectivity and difficult on-ramps FTM has now outpaced AVAX in wallets (1.9M vs 1.8M for AVAX)
/ FTM has more Value Locked than AVAX, 4th overall
One of the best ways to gauge a chain’s success is to look at how much money has entered the ecosystem. Fantom has surpassed most chains, now 4th among all L1 ecosystems with $9.8B.
FTM was recently #2 on this list thanks to the major amounts of money ported to it to get a chance at the getting the VeDAO NFT.
/ Upcoming Catalysts
SushiSwap will be moving to FTM in the near future and connecting 20+ chains. Given SushiSwap’s brand and unique utility, I expect a large portion of $$$ volume will follow to the Fantom chain.
/ A Comparable Valuation
Top L1s are valued at 3 to 7 times that of Fantom when comparing the ratio of Total Value Locked:Fully Diluted Value (TVL/FDV). This valuation gap is too large to go unresolved for long. As FTM continues to deliver on its roadmap in 2022, I expect price to converge with AVAX.
At current prices of comparable chains, fair value should be between $6.20 and $14.
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