Exciting Times for Fantom Investors 🚀
If you’ve been keeping an eye on the crypto market, you must have noticed the impressive performance of Fantom’s price in recent days. While many major cryptocurrencies like Bitcoin are starting to recover, Fantom has been standing out with significant gains.
The Driving Force Behind Fantom’s Recent Surge
The recent surge in Fantom’s price can be attributed to the highly anticipated Sonic upgrade, which has brought about a positive turnaround for Fantom in the past few months. The Sonic upgrade is set to enhance Fantom’s technology stack significantly, introducing key scalability improvements without the need for a disruptive hard fork.
- The Fantom Foundation recently unveiled details about the upcoming Sonic Network, a new layer-1 chain that will offer seamless connectivity to a wide range of liquidity, users, and protocols from Ethereum and other networks through a native layer-2 bridge.
- With the launch of the Sonic Network, a new token dubbed S will be introduced, and FTM token holders will have the opportunity to migrate to this new token at a 1:1 ratio, subject to a governance vote.
According to the Fantom Foundation’s blog post, the migration process from FTM to S token is expected to be bi-directional initially, allowing users to swap between the two tokens. As the transition progresses, the migration will shift to a one-way process from FTM to S token on the Sonic Network.
The announcement of the Sonic Network and the upcoming token migration process has fueled a substantial surge in the price of Fantom, showcasing the market’s positive response to these developments.
An Overview of Fantom’s Price
Currently, the price of Fantom stands at around $0.908, reflecting a remarkable 15% increase in the last 24 hours alone. Investors and traders are closely watching Fantom as it continues to demonstrate strong bullish momentum in the market.
By
By
By
By