First Mover Americas: Fantom’s FTM Outperforms Market Ahead of Upgrade

Layer 1 blockchain Fantom’s native token, FTM, has gained over 190% in four weeks, becoming the best-performing non-meme cryptocurrency among the top 100 digital assets by market value. FTM’s price surged to $1.16, the highest since April 2022, according to data tracked by CoinGecko. The token’s market capitalization jumped to $3.29 billion, becoming the 44th largest digital asset in the world. Fantom’s impending Sonic upgrade, expected to boost transaction processing speeds, may have galvanized investor interest in the cryptocurrency. The Sonic mainnet will replace the existing Opera mainnet in the next few months. Sonic’s testnet went live in October. The closed testnet with simulated traffic has demonstrated a maximum theoretical throughput of 2,000 transactions per second (TPS) and a time to finality of 1.1 seconds. Opera is processing just 3.2 TPS.