Fantom ($FTM) has experienced a surge in value, outperforming other Layer 1 tokens and rising by 10% in a week. This has led to FTM trading at $0.80 at the time of writing, while Bitcoin and Ethereum, the two biggest coins in the crypto market, have seen more modest gains. Investors are flocking to Fantom in anticipation of the network’s upcoming Sonic upgrade, which is expected to significantly increase the network’s throughput. The upgrade will boost transaction speed from the current 1.5 to 2.5 transactions per second to 2,000 tps. Fantom plans to implement the upgrade once two-thirds of the validator nodes have installed the new software, and 25 out of 60 nodes have already done so.
Over the past three months, Fantom has shown a decline in line with Bitcoin’s fall from its recent all-time high. However, over the last month, FTM has maintained a relatively stable price range between $0.60 and $0.80. A breakout from this range could indicate a potential upward trend in the future. With the Relative Strength Index (RSI) currently at 54 and the weekend approaching, monitoring the price movement over the weekend could provide insights into the week ahead. Diversifying investments in Fantom and other Layer 1 tokens with tokens supporting specific applications built on blockchain networks is recommended to mitigate risk.
One such token that investors can consider for diversification is WienerAI ($WAI), which has gained attention as a meme coin but offers more than meets the eye. Described as a “Revolutionary AI Trading partner,” WienerAI serves as a digital companion providing AI-enhanced trading advice, seamless swap functionality, and zero fees. The token has already raised $2 million in investment within a month since its presale launch. Smart contract auditing by Coinsult ensures blockchain security, and staking options are available for around 20% of $WAI’s supply, offering a lucrative yield of 485% APY. Investors can participate in the presale on WienerAI’s website and stay updated on news through X and Telegram channels.
Investing in Layer 1 tokens involves betting on the potential of underlying networks and associated projects operating on them. Understanding the technical capabilities and scalability features of blockchain networks like Fantom and Ethereum can provide confidence to investors in their long-term prospects for DeFi applications. While Layer 1 tokens may exhibit more stable growth compared to individual projects, diversification with tokens supporting specific applications can enhance portfolio resilience. WienerAI offers a unique opportunity for investors to explore AI-enhanced trading functionalities within the crypto space, mitigating risk through diversification and potentially yielding attractive returns.
Please note that investing in cryptocurrencies carries high risks, and this information is provided for educational and informational purposes only. It does not constitute investment advice, and participants should be aware of the potential loss of their capital. Monitoring the market trends and conducting thorough research before investing in any asset class are essential steps for making informed decisions in the volatile crypto market. As Fantom and other Layer 1 tokens continue to attract investor interest, exploring complementary investment opportunities like WienerAI can offer a broader exposure to diverse applications and technologies within the blockchain ecosystem.
