{"id":608790,"date":"2024-05-19T10:00:57","date_gmt":"2024-05-19T10:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=608790"},"modified":"2024-05-19T08:02:53","modified_gmt":"2024-05-19T08:02:53","slug":"fantom-price-continues-to-shine-whats-behind-the-latest-15-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/","title":{"rendered":"Fantom Price Continues To Shine – What’s Behind The Latest 15% Surge?"},"content":{"rendered":"

Fantom price has been such a joy to watch for investors<\/a> in recent days, as a much-needed breath of fresh air continues to spread throughout the crypto market. Bitcoin and other large-cap assets seem to be recovering well after a period of sluggish and frustrating price action.<\/span><\/p>\n

Notably, Fantom emerged as one of the best performers in the cryptocurrency market over the past week, posting a substantial 26% price increase in the last seven days. The Layer 1 token has particularly been on a hot streak in the past day, soaring by 15%.<\/span><\/p>\n

The Catalyst Behind The Latest FTM Surge<\/strong><\/h2>\n

The much-awaited Sonic upgrade has been critical to the turnaround the Fantom price<\/a> has witnessed in the past few months. Sonic is expected to improve Fantom\u2019s technology stack and introduce major scalability enhancements without a disruptive hard fork.<\/span><\/p>\n

Related Reading: This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here\u2019s Why<\/a><\/div>\n

Most recently, the Fantom Foundation unveiled<\/a> the details of the upcoming layer-1 chain Sonic Network. According to the blog post, the new blockchain network will be connected to and be able to tap into vast amounts of liquidity, users, and protocols from \u201cEthereum and beyond\u201d via a native layer-2 bridge.<\/span><\/p>\n

As disclosed previously, the Sonic Network is expected to go live alongside a new token, with the ticker S. In the latest memo, the project revealed that FTM token holders<\/a> will be able to migrate Sonic\u2019s token at a 1:1 ratio, depending on the results of a governance vote.<\/span><\/p>\n

The Fantom Foundation said in its latest blog post:\u00a0<\/span><\/p>\n

Initially, this migration process is anticipated to be bi-directional, which will allow users to swap back and forth between $FTM and $S. Since the $S token will only exist on Sonic and $FTM will only exist on Opera, we anticipate utilizing a bridge to enable bi-directional swaps. This process enables a seamless migration for current Opera network participants to experience Sonic. After a transitional period (to be determined in the future), the migration process is expected to transition to a one-way migration of $FTM to $S.<\/span><\/p><\/blockquote>\n

The project noted that the supply of the new S token will match that of FTM to facilitate the token migration process after the Sonic chain launch. It is worth mentioning that the Fantom price experienced a significant surge<\/a> following this update on the Sonic Network on May 17.<\/span><\/p>\n

Fantom Price At A Glance<\/strong><\/h2>\n

As of this writing, the Fantom price is around $0.908, reflecting an almost 15% increase in the past 24 hours.<\/span><\/p>\n

Related Reading: Bitcoin To $100,000: Infamous Head And Shoulders Pattern Appears To Signal The Start Of Another Rally<\/a><\/div>\n
\"Fantom
Fantom price on the brink of $1 on the daily timeframe | Source: FTMUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Fantom price has been such a joy to watch for investors in recent days, as a much-needed breath of fresh air continues to spread throughout the crypto market. Bitcoin and other large-cap assets seem to be recovering well after a period of sluggish and frustrating price action. Notably, Fantom emerged as one of the best performers in the cryptocurrency market over the past week, posting a substantial 26% price increase in the last seven days. The Layer 1 token has particularly been on a hot streak in the past day, soaring by 15%. The Catalyst Behind The Latest FTM Surge The much-awaited Sonic upgrade has been critical to the turnaround the Fantom price has witnessed in the past few months. Sonic is expected to improve Fantom\u2019s technology stack and introduce major scalability enhancements without a disruptive hard fork. Related Reading: This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here\u2019s Why Most recently, the Fantom Foundation unveiled the details of the upcoming layer-1 chain Sonic Network. According to the blog post, the new blockchain network will be connected to and be able to tap into vast amounts of liquidity, users, and protocols from \u201cEthereum and beyond\u201d via a native layer-2 bridge. As disclosed previously, the Sonic Network is expected to go live alongside a new token, with the ticker S. In the latest memo, the project revealed that FTM token holders will be able to migrate Sonic\u2019s token at a 1:1 ratio, depending on the results of a governance vote. The Fantom Foundation said in its latest blog post:\u00a0 Initially, this migration process is anticipated to be bi-directional, which will allow users to swap back and forth between $FTM and $S. Since the $S token will only exist on Sonic and $FTM will only exist on Opera, we anticipate utilizing a bridge to enable bi-directional swaps. This process enables a seamless migration for current Opera network participants to experience Sonic. After a transitional period (to be determined in the future), the migration process is expected to transition to a one-way migration of $FTM to $S. The project noted that the supply of the new S token will match that of FTM to facilitate the token migration process after the Sonic chain launch. It is worth mentioning that the Fantom price experienced a significant surge following this update on the Sonic Network on May 17. Fantom Price At A Glance As of this writing, the Fantom price is around $0.908, reflecting an almost 15% increase in the past 24 hours. Related Reading: Bitcoin To $100,000: Infamous Head And Shoulders Pattern Appears To Signal The Start Of Another Rally Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":560232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92002],"tags":[84155,9376,89676,43491,85756,91950],"class_list":["post-608790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fantom-news","tag-andre-cronje","tag-fantom","tag-fantom-price","tag-ftm","tag-ftmusdt","tag-sonic-network-upgrade"],"acf":[],"yoast_head":"\nFantom Price Continues To Shine - What's Behind The Latest 15% Surge?<\/title>\n<meta name=\"description\" content=\"Fantom emerged as one of the best performers in the cryptocurrency market over the past week, posting a substantial 26% price increase.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fantom Price Continues To Shine - 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/wncen.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Fantom Price Continues To Shine – What’s Behind The Latest 15% Surge?","url":"http:\/\/wncen.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1207136850.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1207136850.jpeg?fit=1253%2C836"},"articleSection":"Fantom","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["andre cronje","fantom","fantom price","ftm","ftmusdt","sonic network upgrade"],"dateCreated":"2024-05-19T10:00:57Z","datePublished":"2024-05-19T10:00:57Z","dateModified":"2024-05-19T10:00:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Fantom Price Continues To Shine – What’s Behind The Latest 15% Surge?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/fantom-news\\\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/fantom-news\\\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1207136850.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1207136850.jpeg?fit=1253%2C836\"},\"articleSection\":\"Fantom\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"andre cronje\",\"fantom\",\"fantom price\",\"ftm\",\"ftmusdt\",\"sonic network upgrade\"],\"dateCreated\":\"2024-05-19T10:00:57Z\",\"datePublished\":\"2024-05-19T10:00:57Z\",\"dateModified\":\"2024-05-19T10:00:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1207136850.jpeg?fit=1253%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/608790"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=608790"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/608790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/560232"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=608790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=608790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=608790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}