Fantom’s Migration to Sonic Sparks FTM Jump
Fantom’s migration to Sonic is now underway, drawing attention to the platform and resulting in a significant increase in the price of FTM, the native token of Fantom. According to CoinGecko, FTM has surged by over 17% in the past week, reflecting the excitement and interest generated by the network migration within the crypto community.
Sonic Labs Leading the Transition
The launch of Sonic Labs marks a crucial phase in Fantom’s evolution, with four core proposals currently in progress to pave the way for the upcoming Sonic mainnet release. These proposals are designed to ensure a seamless transition for users and developers as they migrate to the new network.
- Sonic Labs introduces four core proposals for the transition to Sonic
- Proposals aim to enhance user experience during the network switch
- Proposed one-to-one ratio between FTM and $S tokens for smooth transition
- $S tokens to mimic the functionality of the original FTM token with a specific token supply on Genesis Day
Predicted Market Trends for FTM
Despite a recent slowdown in FTM’s performance, market sentiment remains optimistic and is expected to improve in the near future. This positive outlook is likely to drive away bearish trends in the FTM market, creating opportunities for the price to reclaim $0.3689 in the short run and establish a strong support level at $0.4855 in the long term.
Hot Take: The Future of Fantom and Sonic
As Fantom’s migration to Sonic progresses and the network transitions to its new phase, the crypto community eagerly anticipates the developments and opportunities that lie ahead. With Sonic Labs leading the way and core proposals shaping the future of the network, Fantom’s journey towards the Sonic mainnet promises innovation and growth in the digital asset landscape.
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