Fantom Gains Momentum as Sonic Chain Hits $100M Milestone
Fantom (FTM) has captured market attention as its rebranded protocol, Sonic Chain, achieves significant milestones.
The cryptocurrency recently climbed past the $0.70 resistance level, fueled by growing momentum within the Sonic ecosystem.
Sonic Chain reported reaching $100 million in Total Value Locked (TVL) within six weeks of its launch, a strong indicator of user adoption. This follows an earlier milestone of surpassing 1 million blocks within just three weeks. The protocol has also expanded its capabilities, including the launch of an Ethereum bridge in late 2024, aimed at improving cross-chain connectivity.
These developments have positively impacted FTM’s price, which is currently trading at $0.72 after a recent rebound.
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Biden Pushes Controversial Crypto Regulation in His Final Days as U.S. PresidentBroader market trends may also play a role in Fantom’s trajectory. Rising confidence in altcoins, highlighted by increased activity among Ethereum and Dogecoin holders, suggests a favorable environment for other projects like Fantom. Additionally, the incoming pro-DeFi U.S. administration could further boost altcoin adoption.
With its rebranding, rapid growth, and expanding ecosystem, Fantom is positioning itself to capitalize on these trends, signaling a potentially promising year ahead.
