{"id":608790,"date":"2024-05-19T10:00:57","date_gmt":"2024-05-19T10:00:57","guid":{"rendered":"https:\/\/uniquehot.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:\/\/uniquehot.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/","title":{"rendered":"Fantom Price Continues To Shine &#8211; What&#8217;s Behind The Latest 15% Surge?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Fantom price has been such <a href=\"https:\/\/uniquehot.com\/fantom\/fantom-ftm-bull-run-8-price-surge-and-robust-double-digit-growth-in-key-metrics\/\" target=\"_blank\" rel=\"noopener \">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<p><span style=\"font-weight: 400\">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<h2><strong>The Catalyst Behind The Latest FTM Surge<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">The much-awaited Sonic upgrade has been critical to <a href=\"https:\/\/uniquehot.com\/news\/fantom-ftm-jumps-180-4-weeks-just-the-beginning\/\" target=\"_blank\" rel=\"noopener \">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<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/altcoin\/crypto-trader-bitcoin-altcoins\/\" target=\"_blank\" rel=\"noopener \">This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here\u2019s Why<\/a><\/div>\n<p><span style=\"font-weight: 400\">Most recently, the Fantom Foundation <a href=\"https:\/\/forum.fantom.network\/t\/the-new-frontier-building-the-sonic-boom\/875\" target=\"_blank\" rel=\"noopener nofollow\">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<p><span style=\"font-weight: 400\">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<a href=\"https:\/\/uniquehot.com\/news\/will-fantom-network-activity-give-ftm-price-a-shot-in-the-arm\/\" target=\"_blank\" rel=\"noopener \"> 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<p><span style=\"font-weight: 400\">The Fantom Foundation said in its latest blog post:\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">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<p><span style=\"font-weight: 400\">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 <a href=\"https:\/\/uniquehot.com\/fantom\/fantom-launches-recovery-plan-for-funds-lost-in-multichains-200m-exploit-ftm-soars\/\" target=\"_blank\" rel=\"noopener \">Fantom price experienced a significant surge<\/a> following this update on the Sonic Network on May 17.<\/span><\/p>\n<h2><strong>Fantom Price At A Glance<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">As of this writing, the Fantom price is around $0.908, reflecting an almost 15% increase in the past 24 hours.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-100000-head-and-shoulders\/\" target=\"_blank\" rel=\"noopener \">Bitcoin To $100,000: Infamous Head And Shoulders Pattern Appears To Signal The Start Of Another Rally<\/a><\/div>\n<figure style=\"width: 2174px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/qzz4emCG\/\" alt=\"Fantom Price\" width=\"2174\" height=\"1434\"><figcaption class=\"wp-caption-text\">Fantom price on the brink of $1 on the daily timeframe | Source: FTMUSDT chart on <a href=\"https:\/\/www.tradingview.com\/x\/qzz4emCG\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\"><em>Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>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":"\n<title>Fantom Price Continues To Shine - What&#039;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:\/\/uniquehot.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 - What&#039;s Behind The Latest 15% Surge?\" \/>\n<meta property=\"og: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 property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-19T10:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-19T08:02:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/iStock-1207136850.jpeg?fit=1253%2C836\" \/>\n\t<meta property=\"og:image:width\" content=\"1253\" \/>\n\t<meta property=\"og:image:height\" content=\"836\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Opeyemi Sule\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/fwOpeyemi\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Opeyemi Sule\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/fantom-news\/fantom-price-continues-to-shine-whats-behind-the-latest-15-surge\/\"},\"author\":{\"name\":\"Opeyemi Sule\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/f00d04323451aba53c6c7cca439248b8\"},\"headline\":\"Fantom Price Continues To Shine &#8211; 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