This Solana Rival Is Becoming Increasingly Bullish: Could Mirror SOL’s Success

Cryptocurrency analyst Ignas believes Fantom (FTM) has breakout potential that could allow it to mirror the success of rival blockchain Solana (SOL).

In a Twitter thread, Ignas explained why he is increasingly bullish on FTM’s prospects. He highlighted Fantom’s upcoming Sonic upgrade which aims to match Solana’s performance without compromising decentralization.

Sonic Brings Speed Without Sacrifice

The Sonic upgrade promises to deliver 2000+ TPS and 1.1 second finality for Fantom without needing sharding or layer 2 solutions. This should put FTM in the mix with SOL as a leading “monolithic” blockchain optimized for speed and low costs.

Ignas believes launching in spring 2023 is good timing for Sonic to capitalize on emerging web3 trends like GameFi, SocialFi, and high-frequency trading where performance matters.

By avoiding fragmentation between execution and data layers, Fantom also sidesteps the need for users to bridge assets between sidechains and mainchains. This leads to a smoother user experience.

Rebuilding From Bear Market Carnage

According to Ignas, the Fantom ecosystem was decimated in the last bear market. This was further exacerbated by the breakdown of the prominent Multichain cross-chain router.

However, this cleansing of the ecosystem provides an opportunity similar to Solana. As attention and capital flows back into the space, it can concentrate into Fantom’s strongest applications and teams.

If Fantom can execute on its ambitious upgrade path, Ignas believes it has potential to mimic Solana’s meteoric growth as the market cycle shifts back into bull mode. FTM’s chart also looks primed for a technical breakout in his view.

Read also:

In summary, Fantom’s forthcoming Sonic release coupled with favorable macro conditions could poise the network for a SOL-like surge according to this optimistic analyst.

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo