Is It Too Late to Invest in Fantom? FTM Price Surges 10% as New AI Project Raises $2 Million
Fantom ($FTM) has emerged as the top-performing Layer 1 token this week, experiencing a 10% increase in value amidst a flurry of recent activities on the network. As of the time of writing, FTM is trading at $0.80.
Even Bitcoin ($BTC) and Ethereum (ETH), the two largest cryptocurrencies and also Layer 1 tokens, couldn’t keep up with Fantom’s growth over the past seven days. Bitcoin grew by 5% to reach a trading price of $66,234, while Ethereum remained relatively stable at around $3,020.
The primary reason investors are flocking to Fantom at the moment is the anticipation surrounding the network’s new Sonic upgrade. This upgrade is expected to significantly enhance the network’s throughput, increasing its transaction speed from the current range of 1.5 to 2.5 transactions per second to an impressive 2,000 tps.
Fantom has stated that the network upgrade will be implemented once the new software is adopted by two-thirds of the validator nodes. Currently, 25 out of the 60 nodes have already upgraded to Sonic.
Looking at Fantom’s chart for the past three months, there has been a noticeable decline since mid-March, aligning with Bitcoin’s drop from its recent all-time high during that time.
For the past month, FTM has been trading within a narrow price range of $0.60 to $0.80. Today’s price surge could be an indication of an upcoming breakout. The Relative Strength Index (RSI) is currently stable at 54.
As the weekend approaches, it is crucial to observe how the price performs to gain insights into the upcoming week’s market trends.
Diversify Your Fantom and Layer 1 Investments with WienerAI, a Meme Coin Trading Bot Companion
Investing in a Layer 1 token essentially means betting on the network and the various projects built on it. Investors who understand the technical capabilities of Fantom and Ethereum are more confident in these blockchains as robust platforms for decentralized finance (DeFi) applications compared to those who invest without such knowledge.
Both Fantom and Ethereum are designed for scalability and are continuously optimizing their capabilities. However, Layer 1 tokens may experience more subdued rallies since they represent an investment in entire ecosystems rather than specific projects.
Therefore, it is always beneficial to diversify your holdings of Fantom and other Layer 1 tokens by investing in tokens that underpin specific applications built on the blockchain.
WienerAI may appear to be a meme coin at first glance, but it offers more than meets the eye. It represents a leap into the great potential of blockchain technology once artificial intelligence (AI) is integrated into it.
Despite being just a month old, WienerAI ($WAI) has already attracted $2 million in investments. Marketed as a “Revolutionary AI Trading Partner,” WienerAI is a digital companion that provides users with user-friendly AI-enhanced trading advice, seamless swap functionality, and zero fees.
WienerAI’s smart contract has been audited by Coinsult, a blockchain security platform. Approximately 20% of $WAI’s supply is available for staking.
WienerAI’s website allows buyers to stake their tokens during the presale to take advantage of the lucrative yield, which currently stands at 485% APY.
To stay updated on WienerAI news, you can follow them on X and Telegram. Join the presale now on the WienerAI website.
Please note that investing in cryptocurrencies is a high-risk venture. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all of your capital.