Fantom (FTM) Spikes Over 16% Today: Here's Why!
Fantom (FTM) is experiencing a significant surge today, with the Fantom (FTM) price extending its gains on Tuesday and rallying by 16.9% in the last 24 hours and a remarkable 26.7% over the past week. Not only that, but tokens based on the Fantom network have also seen a boost.
Why the Fantom (FTM) Rally?
Several factors are contributing to this bullish momentum, but one stands out:
- 1️⃣ Sonic Upgrade Hype: The primary driver for Fantom's rally is the upcoming Sonic upgrade, which promises to boost the network's transaction processing speed to over 2,000 transactions per second (TPS). This upgrade has generated considerable excitement within the Fantom community and beyond.
On-chain data further supports this positive trend, with increased activity and investor interest.
Fantom Price Analysis: Approaching Key Resistance
Fantom (FTM) price extends its gains on Tuesday, approaching a crucial resistance level; a firm close above it could continue the rally. The price of Fantom increased by 60% from its recent $0.36 low on Sept. 6, reaching a high of $0.57 today, Sept. 17. While the overall market showed some bullish signs, the Sonic upgrade is undeniably fueling Fantom's specific surge.
Stay tuned for further updates as we monitor the Fantom network's progress and the impact of the Sonic upgrade!