It’s been revealed that there’s an Ethereum competitor out there that is getting ready to see a massive rally. Check out the available details below.

It’s been just reported that the pseudonymous host of crypto outlet Coin Bureau says the strong fundamentals of one mid-cap Ethereum competitor could send it on another major rally.

FTM is gearing up for massive rally

The analyst known as Guy said that FTM, the native asset for the smart contract platform Fantom, still “has a lot more room to the upside” despite its massive 18,407% gains in the past year.

“This is because Fantom’s market cap is medium-sized and its fundamentals are significantly stronger than most of the cryptocurrencies that currently outrank it. FTM’s tokenomics are also seriously robust. All FTM coins allocated to Fantom’s early investors, founders and advisers finished vesting last November.”

Guy also said that the only FTM coins being introduced into circulation are coming from the asset’s staking rewards.

“This is happening to the tune of about 500,000 FTM per day, which is just under $1.5 million of daily sell pressure. Now, this small amount of sell pressure is being easily offset by the demand for FTM coming from the growing number of Fantom users and investors.”

He continued and said the following:

“That said, there is likely some sell pressure coming from the Fantom Foundation’s massive developer fund, though this seems to be minimal, as any FTM awarded to devs is vested monthly over one year.”

Bitcoin new survey shows optimism

PlanB shared a survey on Twitter asking people how much they believe that Bitcoin will be worth by the end of 2021. It seems that most respondents said that BTC would be priced at $100k by the end of this year.

Check out the survey below.

Do you think #bitcoin will reach $500K, $288K (S2FX model), $100K (S2F model), or will BTC stay below $100K .. by Christmas 2021?

— PlanB (@100trillionUSD) November 5, 2021

Stay tuned for more news.

The post Ethereum Competitor Is Gearing Up For Massive Rally first appeared on CryptoGazette - Cryptocurrency News.