Fantom Surges Amid New Chain Upgrade

Despite the broader crypto market’s recent struggles, Fantom (FTM) has surged 15% this week.

Sonic Upgrade Powers Growth

The surge is attributed to the recent upgrade of Fantom’s mainnet to the new “Sonic” technology. Sonic is expected to significantly scale the network and process up to 2,000 transactions per second. It will also reduce storage requirements by up to 90%.

Stablecoin Integration Boosts Ecosystem

Last month, Fantom partnered with Circle to launch a new “canonical” stablecoin, USDC.e. This stablecoin is bridged from native USDC on Ethereum and can be upgraded to native USDC in the future. The integration aims to reduce liquidity fragmentation and provide additional on-ramps to the Fantom ecosystem.

Key Points

  • FTM has outpaced the broader crypto market, surging 15% this week.
  • The surge is driven by the new Sonic chain upgrade, which promises scalability and reduced storage requirements.
  • Fantom’s partnership with Circle has introduced a new stablecoin, USDC.e, to the ecosystem.