As the Fantom (FTM) price continues to rise, reaching new monthly highs, potential investors may wonder if it is too late to buy Fantom. The price of FTM is currently at $0.8744, up 35% in the past seven days. Positive momentum in the market was triggered by a sudden shift in the SEC’s position on Ethereum ETFs. Major financial institutions like Fidelity, Vaneck, Invesco, Ark 21Shares, and Franklin recently filed applications in relation to Ethereum ETFs. Speculation regarding the approval of Ethereum ETFs by the SEC has also contributed to the price surge of FTM. Macroeconomic factors such as US jobs and CPI inflation data have also played a role in boosting confidence in the market, with expectations of Fed rate cuts this year.
Fantom has also announced an upgrade, integrating its innovative Sonic technology, which has generated excitement among investors, contributing to the positive outlook in crypto markets. While the price of FTM has dropped slightly from its recent peak of nearly $1.0, it remains below its 2024 highs by nearly 30%. FTM previously reached a peak of $3.70 in 2021, suggesting that it still has room for growth. If FTM surpasses its 2021 highs during this market cycle, investors could potentially see gains of up to 5x. Therefore, it may not be too late to buy Fantom, as it is still trading at a significant discount compared to its all-time highs.
In addition to Fantom, investors may also consider alternative cryptocurrencies such as Wiener AI (WAI). Wiener AI is a meme coin that offers AI-powered trading tools and the potential for passive income through staking rewards. The project has already raised over $2.5 million in its presale and offers a remarkable 396% APY for staking. WAI is gaining traction among investors and analysts, with the potential for significant gains in the future. Popular crypto analyst Michael Wrubel has identified WAI as a top crypto for 2024, highlighting its growth potential in the market. With a current market cap of under $50 million, WAI presents an opportunity for early investors to benefit from potential gains of 100x or more.
Overall, the outlook for Fantom in the current bull market is positive, with the Fantom Foundation aiming to stimulate a meme season on the blockchain. This initiative could further accelerate FTM’s appreciation, similar to what was seen with Solana in the past. While FTM’s gains in this market cycle may be capped at around 5x, there is still room for growth compared to its previous highs. Investors looking for higher gains may explore meme coins like Wiener AI, which offers unique features such as AI trading tools and staking rewards. With the crypto market being a high-risk asset class, investors should conduct thorough research and consider factors like market conditions, project fundamentals, and potential risks before making investment decisions.
