Fantom's FTM Token Surges 190% Ahead of Sonic Upgrade

The Layer 1 blockchain's native token outperforms the market, with significant gains fueled by anticipation of its upcoming network upgrade.

Fantom's FTM token has seen a remarkable 190% increase in value over the past four weeks, becoming the top-performing non-meme cryptocurrency among the top 100 digital assets by market value.
The Sonic upgrade, expected to significantly boost transaction processing speeds and reduce time to finality, is anticipated to go live in spring 2024, replacing the existing Opera mainnet.
The closed testnet for Sonic has demonstrated a maximum theoretical throughput of 2,000 transactions per second (TPS) with a time to finality of 1.1 seconds, a substantial improvement over the current 3.2 TPS.
Investors and enthusiasts are drawn to the upgrade's potential to revolutionize the network's efficiency and attract more developers, with the Fantom Virtual Machine (FVM) promising smoother transition for Ethereum-based applications.
Despite the bullish run, Fantom's decentralized finance (DeFi) ecosystem has seen a decline in the number of FTM tokens locked in applications, reaching its lowest since May 2021.