$FTM broke its resistance level of 0.74
đđźMost likely it will retest this level later on
đđźFrom technical perspective the next serious resistance is at 0.8 which it is close to now
đđźWhile coin looks overbought, multiple indicators suggest bullish scenario
đđźRegarding the fundamentals:
It is important to mention, that while utility coins are pretty similar in their behavior to stocks, there is no financial data to base the analysis on. So this is just a review:
đđźCompany was funded in 2018 with total known investment amount of $40M.
đđźWorkforce distribution in a company: 24% engineers, 8% marketing, 10% Business Development.
đđźIn the last 6 months the development team shrank by 11%, while business development increased by 17%.
đđźThey have recently made two senior hires: Chief Marketing Officer and Chief Research Officer.
đđźTo simplify all of above company is seriously focused on growth, which in turn indicates successful advancement of the technology. If there is no product - there is nothing to market.
đđźAs they share fees with developers who participate in app development - ecosystem growth relatively fast.
đđźFantom are looking to receive back $200M that Multichain managed to blow (money was stolen) and recover losses (at least partially) for their users.
đđźIt is quite interesting:
âWhile the current judgment relates only to Fantom Foundationâs own losses, the Foundation plans to use this legal victory to pave a path for all users to lodge their claims against Multichain,â said Fantomâs official.
đđźIn addition to that, the technology is impressive. They suggest virtual machines that increase the speed of transactions and finality, but they also reduce storage space (storage is expensive. Very expensive)
đđźAdd to this overall market hype + limited supply.
This is not a financial advice, Iâm personally quite optimistic on Fantom.
#Write2Earnn #FTMUSD