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Despite Market Turmoil, Fantom and Helium Lead the Way in Resilience and Growth
Despite the crypto market’s turmoil, Fantom (FTM) and Helium (HNT) are leading the way in demonstrating their resilience and potential growth. Both are expected to attract significant capital injections and a $1 billion market cap by the end of 2024.
Fantom’s Market Share Decrease Masks Strong Fundamentals: While Fantom’s market share decreased 46.71% quarter-over-quarter (QoQ), its year-on-year growth (YoY) continued to rise (94% from Q2 2023), which suggests that the coin has strong fundamentals at this stage and that recent strategic moves could revive momentum. Despite its potential for commercial success, the coin’s market cap of roughly $958 million remains strong.
One of the reasons why Fantom is relatively resilient is its Ecosystem Vault, which offers a decentralized treasury that rewards contributors with FTM tokens, elevating adoption and creating societal connections. Fantom’s Gas Monetization program has led to a decrease in transaction fees from 30% to just 5%, which has given the network an edge.
Helium’s IoT Success and Partnership Drive Growth: Meanwhile, Helium has been building momentum for its growth, with its DePIN network being actively sought after and having secured partnerships with leading vendors, solidifying its position in IoT as one of the fastest-growing private cloud providers. The market cap of Helium, which has climbed nearly $970 million, is poised to rise even further. With 108,000 subscribers on its unlimited plan, the network has demonstrated its appeal to users.
Long-term Success Amidst Market Volatility: While the coin’s current price of $5.99 is a significant drop from its all-time high, it still holds great potential for growth. HNT tokens will experience higher prices as demand for them rises due to the high volume of users. The fact that Fantom and Helium’s QoQ results and YoY growth points to a volatile crypto market. While short-term fluctuations can be alarming, they often mask the true strength of underlying projects.
Looking Beyond Short-term Fluctuations: Fantom and Helium have both shown remarkable resilience in their efforts, and the recent strategic decisions of these two companies suggest that they are on track to achieve more. As the crypto market continues to evolve, it’s important to consider fundamental strengths rather than just short-term price movements. With the help of Fantom’s Ecosystem Vault and Gas Monetization program, as well as Helium’s expanding physical infrastructure and growing user base among other factors, these altcoins are poised for long-term success.
Read more about the growth potential of altcoins in our article “Altcoin Growth Potential: What to Expect in 2024” on CoinSeeks.com.
In essence, the recent market turmoil hasn’t stopped Fantom and Helium from emerging strong, so it makes sense to look beyond short-term market fluctuations and instead concentrate on exploring the fundamental factors that make each project stand out. With their respective strengths and strategic initiatives, Fantom and Helium are poised to take the lead in the altcoin market.
