Fantom (FTM) has captured market consideration as its rebranded protocol, Sonic Chain, achieves vital milestones.
The cryptocurrency not too long ago climbed previous the $0.70 resistance stage, fueled by rising momentum inside the Sonic ecosystem.
Sonic Chain reported reaching $100 million in Complete Worth Locked (TVL) inside six weeks of its launch, a robust indicator of consumer adoption. This follows an earlier milestone of surpassing 1 million blocks inside simply three weeks. The protocol has additionally expanded its capabilities, together with the launch of an Ethereum bridge in late 2024, geared toward bettering cross-chain connectivity.
These developments have positively impacted FTM’s value, which is at the moment buying and selling at $0.72 after a latest rebound.
Broader market tendencies may additionally play a task in Fantom’s trajectory. Rising confidence in altcoins, highlighted by elevated exercise amongst Ethereum and Dogecoin holders, suggests a positive atmosphere for different tasks like Fantom. Moreover, the incoming pro-DeFi U.S. administration may additional increase altcoin adoption.
With its rebranding, fast development, and increasing ecosystem, Fantom is positioning itself to capitalize on these tendencies, signaling a probably promising 12 months forward.
