FTM (Fantom) - Bullish exit soon ?

BULLISH FTM MARKET_MINDS

FTM (Fantom) - Bullish exit soon ?

 

Fantom wants to cut token burn rate by 75% to fund DApp rewards program

 

According to a new proposal dated Dec. 1, directed acrylic graph network Fantom seeks to implement an affiliate program for its decentralized application (DApp) developers with network gas fees. To fund this venture, the Fantom community has proposed slashing the protocol’s current FTM token burn rate from 20% to 5%. In supporting the proposal, Fantom developers wrote: 

“We take what works in web2 and restructure it to fit the network’s priorities, which means taking the ad monetisation model and extending it to gas monetisation for performing dApps that manage to attract a steady stream of users.”

The development team further elaborated that Fantom’s Opera network [native DApp builder] “is not directly competing against Youtube or Twitter,” but seeks to “attract and retain high-grade talent continuously” in the Web3 space. To qualify for the potential incentive, DApps must have recorded 1,000,000 or more transactions and have spent three months or above on the Fantom Opera network. Upon approval, developers can then claim 15% of the total gas fees spent on their DApp.

 

Scenario : 

 

We expect a further trading range between 0,1590 and 0,2820 (Wedge pattern) before expecting a bullish exit opening a potential recovery at 0,3910 before 0,50

 

image.png

Key Elements:
 

  • - The long-term trend analysis show potential towards 0,66 as long as 0,08 Strategic support remains valid
  •  
  • - The mid-term element as RSI and Moving average are mixed (= Range)
  •  
  • - The Fibonacci key level at 0,1590 remains valid and acts as key support

 

Trade Idea : Buy - Conviction : :médaille::médaille:(Medium)

  •  
  • - Target 2 : 0,50 (140%)
  •  
  • - Target 1: 0,3910 (85%)
  •  
  • - Buy: in setback at 0,21
  •  
  • - Stop: 0,1590 (-40%)

 

 

Disclaimer: 

 

The information contained in this site is for educational purposes only to help you make the best decisions and does not constitute investment or financial advice. Please do your own research before making any investment decisions. None of the information contained in this site constitutes, nor should it be construed as, a suggestion, offer or other solicitation to engage in or refrain from engaging in any purchase, sale or other investment related activity. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose.

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