This Crypto Market Phantom Could Be Poised for a Major Breakout
Fantom (CRYPTO: FTM) was supposed to be one of the big breakout cryptos of 2022. Remember when people were touting it at the beginning of the year as the next Ethereum (CRYPTO: ETH), the next Cardano (CRYPTO: ADA) or the next Solana (CRYPTO: SOL)? Ever since it burst onto the scene in December 2019, Fantom has attracted users with its super-fast blockchain, low transaction fees, and exciting opportunities related to decentralized finance (DeFi). But the much-anticipated Fantom gains never materialized in the first half of 2022.
Now, it looks like the big breakout moment might finally be coming. Even during the crypto downturn, Fantom has retained its value, and its overall market cap is just south of $1 billion right now. Once it hits $1 billion, it will edge into Top 50 crypto territory and reappear on investor radar screens. Best of all, many interesting DeFi projects continue to be built on the Fantom blockchain. So is it finally time to invest in the phantom of the crypto market?
What's interesting is just how well Fantom has held up during the market downturn. If you look at crypto market performance recently, your trading screen is going to look scary. Lots of red everywhere. But there have been a few highlights. Fantom, for example, is up nearly 15% over the past week.
Source Fool.com
