FTM Price Skyrockets 40% as Sonic Upgrade Looms
Fantom's (FTM) price has surged by an impressive 40% over the past month, outperforming leading cryptocurrencies such as Bitcoin and Ethereum.
Data shows that FTM climbed from $0.26 on August 5 to an intraday high of $0.53 on September 16, marking a significant rebound since August 6.
This performance is striking when compared to the overall crypto market cap, which shrank by 2.5% to $2.02 trillion in the same period.
Crypto trader 'Mister Crypto' attributes FTM's rally to 'a lot of development behind the scenes', specifically highlighting the upcoming Sonic upgrade as a key driver of the surge.
The Sonic upgrade, set to launch in late 2024, promises to supercharge Fantom's network performance by boosting transaction speed from 30 to over 2,000 per second and slashing storage needs by up to 90%.