A popular analyst believes that Fantom (FTM), a competitor to Ethereum (ETH), is preparing to ignite significant price surges and catch up with other highly valued cryptocurrencies.

In a video update, a pseudonymous analyst known as Rager shares with his 197,800 followers on the social media platform X that Fantom is one of his top trading recommendations for the upcoming year.

Rager suggests that Fantom’s upcoming migration to Sonic, the next-generation blockchain, could propel the altcoin to revisit its all-time high levels.

Looking at the Fantom chart, Rager notes that the all-time high close was around $3.30 to $3.50, which corresponds to a market cap of $10 to $11 billion. Currently, Fantom has a market cap of less than $2 billion at $0.70. Rager predicts that with the migration to Sonic and the potential to surpass other coins, Fantom could reach the top 20 cryptocurrencies.

Rager expresses confidence that Fantom could achieve all-time highs or even higher due to the bullish impact of the Sonic migration. He believes that the current price level presents a great opportunity for investors.

Sonic, as the next-generation blockchain, is expected to significantly enhance Fantom’s scalability by processing 2,000 transactions per second. Additionally, it will reduce storage requirements by up to 90%, according to the project. The migration to Sonic is planned for the fourth quarter of this year, although the exact date is still unknown.

Rager draws parallels between Fantom and Solana’s parabolic rally from September 2023 to March of this year. He suggests that Fantom has the potential to experience a similar surge, possibly surpassing $3 to $4.

As of now, FTM is trading at $0.67.

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