Fantom (FTM) has reported explosive growth in the past week – Here is why you should buy

Fantom (FTM) is presently connected an explosive maturation uptrend. The token has successful information gained 72% implicit the past 7 days, surging good beyond analysts' estimates of astir $2. At the clip of writing, FTM was trading astatine $2.33, and determination is inactive a batch much to come. Besides, different underlying fundamentals are looking rather positive. Here are immoderate highlights:

• Fantom (FTM) is the second-best 7-day performer among the apical 40 cryptocurrencies by marketplace cap, coming lone 2nd to the NEAR protocol which is up astir 80%.

• Fantom (FTM) has besides seen a surge successful Total Value Locked (TVL) this week, ranking lone 2nd to Terra (LUNA)

• The existent bullish uptrend has not yet peaked and could inactive spell further earlier the extremity of 2021

Data Source: Tradingview.com 

Fantom (FTM) – Price enactment and analysis

At property time, FTM was trading astatine $2.33, up astir 1.3% successful intraday trading. The coin is besides up astir 73% implicit the past 7 days. FTM has outperformed the full marketplace by a mile and is besides beating its competitors similar Solana (SOL) and Avalanche (AVAX) which person besides posted decent double-digit gains the past week. 

Also, FTM has swept past each the important 50, 100, and 200 DMAs. In fact, we were expecting immoderate absorption astir the 200-day moving average, which is astir $2.04, but truthful far, the terms enactment suggests that FTM is apt going to prolong its caller gains supra that threshold.

Should you bargain Fantom (FTM)

When you look astatine full worth locked (TVL) successful FTM, particularly implicit the past week, it is wide that Fantom (FTM) is connected the rise. Yes, it would inactive request to treble its TVL to drawback up with Solana (SOL) oregon Terra (LUNA), but still, the aboriginal imaginable is excellent. FTM is an perfect plus for the semipermanent investor. I’d, however, hold a fewer days for the existent bullish inclination to suffer a spot of momentum and spot if determination are immoderate dips.