The worth of FTM and the TVL of Fantom have doubled for the reason that starting of February.
Fantom has made a formidable comeback in anticipation of its Sonic improve.
In line with CoinGecko, Fantom’s FTM token has gained 104% previously 30 days and hit a 23-month excessive of $0.974 on March 16.
In line with DeFi Llama, FTM buying and selling quantity has additionally surged by greater than 1,000% since mid-October, whereas the full worth locked (TVL) of Fantom-based DeFi protocols has elevated by 236% in the identical interval.
Nonetheless, Fantom’s TVL continues to be down 98.6% from its all-time excessive of practically $12.4 billion in January 2022.
FTM’s efficiency surge comes as Fantom prepares for the launch of its upcoming Sonic improve, which is scheduled for spring.
Sonic will introduce a brand new good contract coding language and execution engine into the Fantom digital machine, aiming to improve the Ethereum Digital Machine (EVM) Fantom that beforehand borrowed from Ethereum.
Fantom Digital Machine additionally has EVM compatibility, which implies builders can simply port code from Ethereum.
The Fantom Basis launched Sonic’s public and closed testnets in October 2023, and a weblog submit on March 13 reported that transaction prices on the testnet had been diminished by 95%.
Fantom offers a closed testnet with “simulated visitors” that simulates token transfers, asset minting, and multi-step exchanges, the submit mentioned. The Fantom Basis concluded that after Sonic mainnet launches, the community will be capable of help “lifelike” throughput of two,000 transactions per second (TPS) with one-second finality.
Different exams have proven that when specialised in dealing with these transaction varieties, the community can deal with as much as 4,000 token exchanges and as much as 10,000 transfers per second.
Sonic may even purpose to scale back storage prices by 90% and introduce an upgraded consensus mechanism. The Fantom Basis added that it has upgraded a number of save nodes on the mainnet to help Sonic.
Fantom goals to advertise new DeFi and web3 gaming use instances by way of Sonic.
