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FTM Surges 20% with Fantom Sonic: Scalability Solution Launch

FTM Surges 20% with Fantom Sonic: Scalability Solution Launch

The Sonic technology from Fantom improves Opera by a factor of ten. 

Fantom Sonic can process up to 2,000 TPS with sub-second finality. 

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With 170% gains in the last month, the FTM price aims for a new two-year high. 

On Monday, March 25, Fantom’s cryptocurrency, FTM, saw a significant uptick in value, rising 20% to $1.22. This news coincides with Fantom’s launch of Fantom Sonic, a platform scalability enhancement. As of the time of writing, Fantom (FTM) is trading at $1.15, up 4.63%, with a $3.22 billion market capitalization. Fascinatingly, the daily trading volume has increased to $535 million, a whopping 80% increase. 

Fantom Unveils Scalable Sonic Technology 

Fantom made a ground-breaking announcement on the creation of Sonic technology, which aims to revolutionize the scalability of blockchain technology. Careful research and development led to this breakthrough, which builds on the groundwork established by the first Opera network launched in December 2019. 

The Opera network, headed by the visionary Andre Cronje and his hardworking technical team, achieved a great deal as the first permissionless Directed Acyclic Graph (DAG)-based protocol. With noteworthy accomplishments like a sub-600 ms finality time and a maximum throughput of around 200 transactions per second (TPS), it demonstrated significant advancements in scalability and transaction speed compared to Ethereum’s capabilities. 

Notwithstanding its triumph, the Opera network encountered difficulties amid spikes in demand, resulting in bottlenecks and a degraded user experience. To address these issues and bring in a new era of blockchain scalability, the Fantom team set out on a two-year quest to build Sonic technology. 

Sonic is a huge advancement with the ability to process up to 2,000 TPS at sub-second finality. This development highlights Fantom’s dedication to innovation and represents a substantial evolution from Opera’s capabilities. 

Utilizing Sonic’s unmatched technological prowess, Fantom hopes to set a new benchmark for blockchain infrastructure. In addition, the system will form the basis of a shared sequencer that can perform more than 180 million transactions per day with real-time confirmation. 

FTM Forecasting Price 

The quantity of FTM available to traders has decreased recently, suggesting a change in favour of accumulation by mid- and long-term holders. This pattern points to a rising belief in FTM’s potential in the future. 

As seen by its 7-day Relative Strength Index (RSI), FTM’s price indicates strong investor interest, despite being in the overbought zone. Furthermore, the bullish path shown by the Exponential Moving Average (EMA) lines suggests FTM may soon hit a 2-year high.

The FTM 7-day RSI is currently at 77, slightly lower than the 81 reading from the previous week. Nonetheless, past data indicates that FTM’s price has risen over protracted periods despite the RSI indicating overbought conditions.

Fantom trading chart
Courtesy: Santiment

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