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Fantom (FTM) Surges on Meme Coin Embrace, Upcoming Sonic Upgrade

Fantom (FTM) Surges on Meme Coin Embrace, Upcoming Sonic Upgrade

Fantom (FTM) has been a standout performer recently, experiencing a 15% price increase in the last week. This upswing coincides with several exciting developments on the Fantom network.

 

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Key Drivers of FTM’s Growth

  • Meme Coin Initiative: Fantom is actively courting meme coins, a thriving sector within crypto. Lead developer Andre Cronje outlined a proposal for safe meme coin launches on the Fantom network. This includes measures like controlled liquidity pools and designated token allocations for development and marketing. This initiative has garnered significant interest from the meme coin community.
  • Sonic Upgrade on the Horizon: The highly anticipated Sonic upgrade promises a significant performance boost for the Fantom network. Scheduled for launch this spring, Sonic aims to achieve speeds of up to 2,000 transactions per second (TPS) and a near-instantaneous finality time of 1.1 seconds. This upgrade will address scalability limitations experienced on the current Opera network.
  • USDC.e Stablecoin Launch: Fantom recently launched USDC.e, a native stablecoin bridged from Circle’s USDC on Ethereum. This integration offers users a convenient way to leverage USDC within the Fantom ecosystem.

Fantom’s Technological Edge

  • Directed Acyclic Graph (DAG): Unlike traditional blockchains, Fantom utilizes a DAG structure, which is designed to handle larger transaction volumes without compromising performance. This could position Fantom well to accommodate the potential influx of meme coin activity.
  • First Sonic Validator Live: The launch of the first validator powered by Sonic technology marks a major milestone for Fantom. This demonstrates progress towards achieving the promised scalability improvements.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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