Thread by @JackNiewold

I've officially been redpilled on Fantom ( $FTM )

Here's a thread on:

• Why I think it's undeniably undervalued
• How it could do a 5-10x in the next leg of the bull market

Check it out 👇

Non-ethereum Layer 1s (L1s) have been pumping over the last six months, with $AVAX, $SOL, $LUNA, and $BNB all going crazy.

The L1 you DON'T hear about? Fantom, which has been quietly following in their footsteps at a fraction of the market cap.

What does Fantom accomplish that ETH-killers don't already do?

It scales: Fantom operates on a Directed Acyclic Graph (DAG), giving it best-in-class time to finality.

It's also compatible with the EVM, so it plays nice with AVAX, BSC, MATIC, and ETH

https://twitter.com/FantomFDN/status/1465751057724809224?s=20

Transactions are crazy cheap, comparable to $SOL and Luna.

$ETH maxis say that, as other L1 blockchains scale, they'll have the same issues as $ETH with network congestion.

Because $FTM relies on a DAG, this might not actually be the case.

Centralization could still be an issue: $FTM is objectively more centralized than a network like Ethereum.

But in the short- and mid-term, investors have shown they don't care too much about that. Look at the success of SOL and BSC.

So it's a viable L1: we've established that.

But why is it undervalued? That's the most important question to address. I've got three points to touch on.

1. It's small.

Small caps have a tremendous advantage as it takes less new capital for them to put in exponential moves.

At a market cap of just $4 billion dollars, it could 10x and still be smaller than Solana.

A table of what FTM's token price would be at competitor Mcaps:

I'm not saying Fantom is going to $200, but its size gives it a lot more room to grow than other blockchains.

'Getting in early' has been a powerful narrative this market cycle and those who missed $AVAX, $SOL, and $LUNA will want to find redemption.

Is $FTM the golden ticket?

2. It's undervalued

Some people say Fantom is a ghost chain, with no meaningful activity.

Well, pound for pound, it's actually tremendously undervalued if you look at Total Value Locked in the ecosystem.

Take a look at the following chart:

Here's what Fantom token price would look like if it was valued at the Market Cap/TVL metrics of other chains.

I literally can't find another L1 on @DefiLlama that's more undervalued by this metric.

3. It's got adoption:

• More daily transactions than $ADA (500k to 100k)
• More DApps than Solana (80 vs. 38)
• More social followers than $LUNA

That doesn't really say 'ghost chain' to me.

It's hard to look at these metrics and not be bullish.

I'll be DCAing into a position over the coming weeks.

I think there's a powerful narrative being constructed and we'll see Fantom in the top 20 sooner rather than later.

Like the thread? Please do me a favor!

1. Give me a follow: @jackniewold, I write data-backed threads on altcoins
2. Give that first tweet a favorite/RT. It helps the thread get seen by more people. 👇

https://twitter.com/JackNiewold/status/1473758246712270850?s=20

Last thing: I'm the founder of Crypto Pragmatist, a research publication on small-cap altcoins.

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