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.
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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.
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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.
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