Last updated on April 16th, 2024 at 03:13 pm
Fantom (FTM) has brimmed today amid the stagnant crypto market, seeing a 7.4% surge in token value. Sonic Upgrade and the launch of Fantoms USDC.e stablecoin stand as frontiers behind this bullish sentiment.
Fantom cutting-edge decentralized finance (DeFi) services have seen the digital asset gain $727,268,844 in volume, an 89.30% increase in the last 24 hours, as per a release by CoinGecko.
USDC.e stablecoin and an upcoming network upgrade
The unprecedented Sonic upgrade is a transformation to bring the DEFI platform from its current testnet to the mainnet network. This upgrade will foresee speed improvements in its network, with speed upgrades reaching 2,000 transactions per second (TPS) from its current 3.2 transactions per second.
The first #Fantom validator using Sonic tech is live ✅
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Marking a major milestone, this deployment paves the way for unleashing Sonic's impressive speeds on the Opera mainnet, achieving ~2,000 TPS at sub-second finality.
Check out the validator page herehttps://t.co/Vs06AFDbZ2 pic.twitter.com/kVvGlTW7dR
— Fantom Foundation (@FantomFDN) April 9, 2024
Not forgetting, USDC, the stablecoin that awaits its launch as a Fantoms utility token, could see a surge in price. This stablecoin will provide a traverse for Fantom and Ethereum interaction, ensuring interoperability between these networks. The stablecoin phenomenon is a new way of providing a haven for coins pegged to the U.S. dollar, has seen digital assets gain trust, and will see Fantom provide trust to its holders.
Fantom’s future
Fantom’s advanced blockchain infrastructure, its pivotal role as a seamless operation provider, and its current upgrades could see the asset’s current price at $1.01 to ATH. Fantom Foundation, the team behind the DEFI platform, took to X to showcase the benefits of this step-up with this quote.
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“Marking a major milestone, this deployment paves the way for unleashing Sonic’s impressive speeds on the Opera mainnet, achieving ~2,000 TPS at sub-second finality.”
FTM got crypto developers on their heels with its proposed plan for “safe meme coin launches” on Fantom, as announced by the lead developer of the project, Andre Cronje. This is a chance for meme coins to gain stability and adoption within the Fantom network.
With the whole crypto industry gearing up for Bitcoin Halving, an event anticipated to pull the green candle in the crypto realm, FTM investors might see more returns if the bulls favor their current trajectory.
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Maina Lewis
I'm a crypto enthusiast with a passion for breaking down complex blockchain concepts into clear, engaging content. Fueled by curiosity, I'm constantly researching the latest crypto trends and developments to keep readers informed and excited about the ever-evolving digital landscape. Whether you're a seasoned crypto investor or just starting your journey, I aim to empower you with the knowledge to navigate this dynamic frontier.