One crypto analyst believes that one of Ethereum’s (ETH) biggest rivals could set a new price record.
The analyst known as Rager says Fantom (FTM) is one of the assets he invests with the highest confidence for the next year.
Rager notes that Fantom’s upcoming Sonic crossover will help the altcoin reach new all-time highs.
“Looking at the Phantom chart, you can get an idea of how high this asset can go. The all-time high close is around $3.30-$3.50. That would imply a market cap of just $10-11 billion.”
Fantom’s market cap is currently under $2 billion at around $0.70. According to Rager, considering L1s, L2s, and many other coins, Fantom could overtake these projects and be among the top 20 crypto assets with Sonic’s entry into the picture. “I think the Sonic transition is very positive for the token in general, and the current price level is in a very good place,” the analyst said.
A similar movement may come to Solana
Sonic is described as Fantom’s next-generation blockchain technology that will “scale the network to unprecedented levels” and be capable of processing 2,000 transactions per second. The new technology will also reduce storage requirements by up to 90 percent. Fantom’s transition to Sonic is planned for Q4 of this year, but the exact date is not yet clear.
Rager believes that Fantom has bullish potential similar to the Solana (SOL) rally seen from September 2023 to March of this year.
“According to the current chart, anything below $1 is a good opportunity for Fantom. I expect a big price gap and a significant recovery in the long term. We saw Solana increase from $20 to $200, i.e. 10x. Could we see a similar situation with FTM? Yes… I think it will go above $3-4 and even much higher.”
Stay tuned for new information.
