Fantom (FTM) Makes Waves with 15% Surge on New Upgrade 🚀
Amidst a stagnant crypto market, Fantom (FTM) stands out with a remarkable 15% surge this week following a significant chain upgrade. Here’s a breakdown of the latest developments and what’s driving this impressive performance.
The Rise of Fantom (FTM)
Let’s delve into the factors that have propelled Fantom (FTM) to outperform the broader crypto market:
– Fantom (FTM) is currently trading at around $0.801, marking a notable increase in value this week
– The 55th-ranked crypto asset has surged nearly 5.5% in the last 24 hours and over 15% in the past week
– In contrast, the overall crypto market cap has experienced a 1.5% decline in the last 24 hours but a 5% increase over the past seven days
New “Sonic” Technology Upgrade
The recent upgrade on Fantom’s network has introduced the groundbreaking “Sonic” technology that promises to revolutionize its scalability and transaction processing capabilities:
- Validators on the Fantom Opera mainnet began upgrading their nodes to leverage the new “Sonic” technology
- Sonic technology is designed to enhance network scalability and can process up to 2,000 transactions per second
- The new technology also aims to reduce storage requirements by up to 90%, enhancing overall efficiency
Collaboration with USDC-Issuer Circle
In a strategic move to enhance its ecosystem, Fantom recently partnered with USDC-issuer Circle to launch a new stablecoin, USDC.e:
- Fantom leveraged the cross-chain messaging protocol Wormhole (W) to deploy the new stablecoin
- USDC.e on Wormhole is bridged from native USDC on Ethereum, offering an upgraded stablecoin option for users
- This initiative aims to reduce liquidity fragmentation, introduce stability, and expand the ecosystem’s accessibility
Hot Take: Fantom (FTM) Steals the Spotlight! 🌟
In conclusion, Fantom’s (FTM) exceptional performance amid a challenging market environment underscores its resilience and innovative approach. The recent chain upgrade and collaboration with Circle showcase Fantom’s commitment to advancing its ecosystem and providing cutting-edge solutions to users.
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