The residents of the crypto town reconcile the events down memory lane. As the current year departs towards the terminal. The year has been full of surprises from the lows to the highs, which has been no less than a sporting event. The coin market has been a host to a plethora of digital assets, accountable of which have engraved phenomenal metrics.
Fantom is one of the lesser talked about protocols in the buzz of top-tier assets. The protocol has been one of the ace players in the industry, with YTD returns of 13139.2%. The digital asset is emerging as a potential coin to bag for it being undervalued to a greater extent. Advocates of the protocol are optimistic of a moonish rise owing to catalysts in the picture.
Is Fantom (FTM) The Most Undervalued Digital Asset In The Herd Of Utility Chains?
As previously mentioned, Fantom has been one of the ace performers of the year, with a surge of about 13139.2%. The protocol hosts numerous features that set it apart from the herd, giving the platform its own trait. Fantom uses a Directed Acyclic Graph (DAG), which translated to its scalability, faster transactions, and negligible costs.
Its advanced consensus algorithm enables the platform to offer finality in one second. In comparison with Solana’s 11 seconds and Avalanche’s 3 seconds. The network process over 10,000 TPS and aims to achieve 300k TPS. FTM with its relatively smaller market cap gives it an edge over the competition for an ascending surge of multiple times. Making it undervalued against rivals.
What further makes it undervalued is the lower ratio between market cap and TVL. The price of FTM could be folded higher if the ratio resembles that of Solana, Avalanche, and Ethereum. Making it a potential bag for traders keen on high-yielding assets.
Moreover, the daily transaction count of the network is greater than that of Avalanche and Cardano, which are miles ahead in terms of valuation. The protocol is host to 1.46 M addresses for its valuation of $5.6 B. The developer activity of Fantom has been excelling at the forefront. Cumulatively, making the asset an undervalued project to the bag ahead of the alt season.
Will These Catalysts Stimulate FTM Price Beyond The ATH?
The project will be home to a number of catalysts, which are expected to be on board in the near future. Damiele and Andre Cronje in a collaborative effort will be building DeFi 6.9, whilst hopping onto Fantom’s bandwagon. Felix, a binance powered centralized exchange from the network will be giving retail access to FTM’s ecosystem and provide liquidity.
Fantom Virtual Machine is expected to join the league in 2022, which will empower scalability and security, In addition, NFTs, integration with AAVE, listing on exchanges such as Coinbase will be an imperative stimulant for Fantom.
Collectively, the robust fundamentals will be a welcoming sign for DeFis, NFTs, metaverse, and gaming. The fast, cheap, and scalable layer-1 protocol like Fantom will be a boon for emerging sectors. The firm also plans to onboard over 1000 validators, which would counter its shortcoming of having only 50 validators. The collective effort of the aforementioned factors would help the low-cap gem soar higher.