Is it too late to buy Fantom? No. But this cryptocurrency could do better

Last updated: May 21, 2024 6:56 pm EDT | 3 minute read

Source: Adobe Stock/sunilpurushe

As Fantom (FTM) price rises to new monthly highs, investors are wondering if it might be too late to buy Fantom.

Last at $0.8744, FTM is up 35% over the past seven days according to CoinMarketCap.

Apparently Sudden change in SEC stance on Ethereum ETFs has brought positive momentum to the market this week.

Fidelity, Vaneck, Invesco, Ark 21Shares and Franklin all filed amended 19B-4 filings on Tuesday.

This comes a day after rumors surfaced that the SEC may approve Ethereum spot ETFs as early as this week.

That helped launch FTM to near $1.0 on Monday, with the price having fallen about 5% since then.

Although not in focus this week, macroeconomics is even more of a plus these days.

This month’s US employment and CPI inflation data helped bolster bets in favor The Fed is cutting rates this year. The release of tomorrow’s Fed minutes should not threaten this narrative too much.

When financial markets move towards prices in easier financial conditions, this tends to strengthen cryptocurrencies.

And high beta altcoins like Fantom are particularly sensitive to changes in financial conditions.

Fantom also recently launched an exciting update to integrate its innovative Sonic technology.

The perspectives inside cryptocurrency markets seems oriented towards a more short-term upside.

So is it too late to buy Fantom?

Is it too late to buy Fantom?

Well, investors who step in now will have missed the bottom of the recent price decline by a wide margin.

But that doesn’t mean it’s too late to buy Fantom.

FTM remains nearly 30% below its 2024 highs. So investors can, at the very least, rest assured that they are not buying the market right at its recent peak.

Nor is Fantom’s price near its long-term peak.

FTM briefly topped $3.70 in 2021, so it is still trading at a 75% discount to its all-time highs.

If FTM manages to break out of 2021 highs this cycle, investors could still see 5x earnings.

In this sense, it is definitely not too late to buy Fantom.

If Fantom (FTM) manages to hit new record highs this cycle, it means that it is definitely not too late to buy Fantom. Source: TradingView

Fantom Alternative to Consider – Wiener AI (WAI)

The outlook for Fantom is strong in this bull market. The Fantom Foundation is pushing to start a meme season on the blockchain.

If successful, this could accelerate FTM’s appreciation, as seen with Solana.

But, as noted, FTM’s gains in this bull market could be limited to a maximum of 5x.

These gains are to be despised. But some cryptocurrency traders will aim for much greater upside.

Such traders often flock to the meme coin market in search of gems.

A potential meme coin gem that Cryptonews analysts really like is Vienna AI (WAI).

The sausage dog themed coin offers useful AI-powered trading tools and has already raised over $2.5 million presale.

WAI is not only a meme coin with artificial intelligence capabilities, but also a potential jewel of passive income.

20% of the offering has been allocated to staking rewards and investors are currently earning a massive 396% APY, according to the project’s plans Official site.

At this rate, investors can double their initial pre-sale investment in just a few months.

Cryptography experts have lined up to join the Sausage army. That’s why widely followed cryptocurrency analyst Michael Wrubel, who boasts over 312,000 YouTube subscribers, ranks WAI as one of the best cryptocurrencies for 2024.

Interested investors need to move quickly, as the price of WAI will increase when the pre-sale reaches $2.7 million.

At the current price of $0.000709, WAI’s market capitalization is less than $50 million.

If it achieves market leadership, early investors could benefit greatly, with earnings potential of 100x or more.

Buy Wiener AI here

Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.

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