Is Fantom Worth It? FTM Price Potential & BIG Updates!!
Published: 2024-05-23
Status:
Available
|
Analyzed
Published: 2024-05-23
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
FTM may see one more upward price movement, potentially around May 25th, linked to the first Sonic upgrade governance vote.
"Notably this pattern implies that there could be one more leg higher. This would not be surprising considering that the first governance vote related to the Sonic upgrade is set to include on the 25th of May."
Pending
FTM is predicted to rally to $1.60 in the short to medium term, facing resistance from previous bull market holders.
"Now zooming out on the weekly chart suggests that FTM could rally as high as $160 in the short to medium term where it will likely stall out due to resistance AKA bag holders from the previous bull market."
Pending
FTM's supply vesting to investors and the team, combined with the Phantom Foundation's long runway, indicates minimal sell pressure from these sources.
"The fact that FTM supply has already vested to investors and the team suggests there will be minimal sell pressure from their side particularly when you factor in the Phantom foundation's apparently enormous Runway."
Pending
An increase of 250 million FTM tokens since the last coverage, at an assumed price of $0.50, could result in up to $125 million in sell pressure, averaging $2.5 million per month.
"FTM's supply has increased by around 250 million since we last covered the project assuming an average price of around 50 this means up to $125 million worth of sell pressure which sounds like a lot but works out to just $2.5 million per month."
Pending
FTM's potential listing on Coinbase is contingent on US regulatory changes or the launch of the Sonic token.
"FTM is not currently listed on coinbase though it's possible this could change if regulations in the US change or when Phantom launches the Sonic token."
Pending
A governance proposal allows a 1:1 swap of FTM for the S token, whose tokenomics are currently unknown and expected to be volatile.
"The governance proposal that's currently in play would make it possible to swap FTM one: one for the S token whose tokenomics are unknown at the time of shooting and which will likely be volatile."
Pending
If approved, the governance proposal will allow FTM to be swapped for S in both directions, with S initially sharing FTM's tokenomics.
"The governance proposal notes that if approved FTM will be swappable for S initially this will be possible in both directions and initially s will have the same tokenomics as FTM."
Pending
Three additional proposals are tied to the Sonic Network: an S token airdrop, a growth program for Sonic Network, and a validator rewards program to encourage migration from Phantom to Sonic.
"The governance proposal also contains three additional proposals that will be tabled an airdrop of the S token the launch of a growth program for Sonic Network and a validator Rewards program that will effectively incentivize validators from Phantom to switch to securing the Sonic Network instead."
Pending
The future only-one-way swap from FTM to S indicates Phantom's intention to phase out FTM in favor of the Sonic network.
"When you combine this with the fact that it will only be possible to swap FTM 4S in the future it makes it crystal clear that Phantom is looking to phase out FTM entirely and switch to Sonic network."
Pending
Sonic Network is confirmed to be an Ethereum layer 2, with the S token's tokenomics differing from FTM's.
"Michael practically confirmed that Sonic network will be an ethereum layer too he also revealed that the token economics for S will be different from those for FTM hence the initially in the governance proposal."
Pending
Phantom is shifting towards Sonic Network to leverage Ethereum's liquidity and user base.
"He explained that the reason why Phantom is making all these changes is to tap into the liquidity and user base of ethereum."
Pending
Sonic Network is being launched with VC funding to address past issues.
"Sonic network is starting fresh with VC Capital to quote correct the mistakes of the past."
Pending
Sonic Network is being positioned as an Ethereum layer 2 and potentially a competitor to Solana, with closer ties to Wall Street-backed entities like Circle and Pith Network.
"Phantom seems to be get getting closer to the likes of circle and pith Network both of whom are heavily backed by Wall Street in fact it wouldn't be farfetched to say that Sonic Network may be trying to position itself as not only an ethereum layer too but a salana killer as well."
Pending
Andre Cronje plans to integrate the Solana Virtual Machine (SVM) into Phantom, believing it to be the best virtual machine available.
"Andre revealed in an interview last December that Phantom plans to Leverage The svm in some way and you'll remember that he believes that the svm is the best virtual machine out there."
Pending
Phantom plans to explore horizontal scaling in early next year for the Sonic Network.
"He revealing that Phantom will start looking into horizontal scaling early next year."
Pending
Sonic has evolved from a Phantom upgrade to a separate cryptocurrency, with Phantom itself being gradually phased out.
"While Sonic was initially pitched as an upgrade to Phantom it has now become a separate cryptocurrency meanwhile Phantom itself will gradually be wound down and disappear."
Pending
The creation of a new blockchain tethered to Ethereum's ecosystem is strategically aimed at capturing Ethereum's liquidity and adoption for the Sonic Network.
"Creating a brand new blockchain that's Tethered to ethereum's ecosystem makes sense as it will increase the likelihood that Sonic network will get a cut of ethereum's liquidity and adoption."
Pending
The changes related to Sonic Network could lead to the S token being listed on Coinbase, enabling Phantom to start with a clean slate.
"The good news is that these changes could result in the S token being listed on the likes of coinbase as it allows Phantom to restart from a sort of blank slate."
Pending
Sonic Network's differentiation strategy is unclear, especially given that its venture capital backers may also be heavily invested in competing projects.
"It's not clear how Sonic Will Stand Out particularly when the VCS Phantom is working with likely have even larger allocations to its competitors."
Pending
Competition for Sonic Network will intensify if it directly competes with Solana.
"The competition will get even more intense if Phantom or rather Sonic decides to go head-to-head with the likes of salana."
Pending
Phantom's on-chain metrics are weak and not improving, even when compared to other underperforming layer-one blockchains.
"Phantom's aforementioned onchain metrics don't look promising and they haven't been improving even though most other layer ones aren't looking too hot either."
Pending
Phantom can overcome challenges by improving communication about Sonic Network and clarifying its narrative (Ethereum L2 or Solana killer).
"We believe that Phantom will overcome these challenges if it manages to improve its communication and information surrounding the Sonic Network this includes clarifying what Niche or narrative it falls into is it an ethereum layer too or is it a salana killer."
Pending
Clearly defining Sonic Network's narrative will maximize adoption and growth, resulting in impressive price action for the S token (formerly FTM).
"Once it becomes clear what narrative Sonic Network falls into the Phantom Foundation should lean into it in our view this is the only way to maximize the adoption and growth of Phantom's current and future ecosystems the best part of all is that it will ensure FTM or rather s will see impressive price action as a result."
Pending