In an exciting development for the crypto space, the price of Fantom (FTM) has garnered considerable attention as the recently rebranded Sonic Chain achieves a notable milestone. Over the past day, FTM has surged past the $0.7 resistance threshold, sparking enthusiasm among traders and crypto enthusiasts alike. Experts predict that Sonic’s advancements will further bolster market interest in the near term.
What Milestone Did Sonic Chain Achieve?
Sonic Chain has announced that it has reached a Total Value Locked (TVL) of $100 million, a remarkable feat accomplished within just six weeks after its launch. This achievement highlights the protocol’s rapid growth and acceptance within the DeFi sector.
How Does Sonic Chain Affect Fantom’s Price?
While Sonic Chain operates with its native token, S, the developments within its ecosystem are proving to have a more substantial impact on Fantom’s valuation. Currently, FTM is trading at $0.7206, reflecting a 2.82% increase over the last 24 hours. This rise follows a previous dip, showcasing signs of stabilizing in the market.
- Sonic Chain has achieved a TVL of $100 million.
- Fantom’s price has grown 71% in 2024.
- The anticipated altcoin season could benefit both Fantom and Sonic Chain.
Recent progress by both Fantom and Sonic Chain positions them favorably within the competitive crypto landscape. As traders watch closely, expectations mount for further positive developments that could propel FTM’s value even higher.
