Don't Look Now, But Is This Crypto Trading for Less Than $1 Back From the Dead?
Once viewed as a potential rival to Ethereum (CRYPTO: ETH) when it launched several years ago, Fantom (CRYPTO: FTM) has had a hugely disappointing 2022. Fantom is down more than 92% for the year and trades for less than $0.20. But things appear to be turning around for Fantom, which just got one of its high-profile founders back in November. Fantom is up about 15% in the past 30 days, and momentum seems to be building for this crypto to turn things around in 2023.
Granted, a lot of the recent price increase is based on hope and speculation, predicated on the return of Andre Cronje, who has been compared to Bitcoin (CRYPTO: BTC) founder Satoshi Nakamoto (a pseudonym) for his influence on the crypto market. Just having Cronje back on board has done a lot to reassure investors that Fantom is not going away anytime soon. And there are at least two other reasons Fantom could be set up for a strong 2023.
Given that Fantom has easily been one of the worst-performing cryptos in the market this year, investors might assume that it's in pretty gruesome financial condition. However, Fantom has made it very clear that it has no exposure to failed crypto exchange FTX (CRYPTO: FTT), and that it has the financial resources to wait out the crypto winter.
Source Fool.com
