Fantom is on a roll — What’s behind the 15% surge? 🔥🔥🔥

Fantom’s price has been a blast for investors in recent days.

The broad-cap asset appears to be recovering nicely after a period of lackluster and frustrating price action.

Notably, Fantom has been one of the best performers in the crypto market over the past week, up a massive 26% over the past 7 days. It was particularly hot over the past day, surging 15%.

The long-awaited Sonic upgrade has been crucial to Fantom’s price turnaround over the past few months. Sonic is expected to improve Fantom’s technology stack and introduce major scalability enhancements without a disruptive hard fork.

Initially, this migration process is expected to be bidirectional, which will allow users to switch back and forth between $FTM and $S. Since $S tokens only exist on Sonic, and $FTM tokens only exist on Opera, we expect a bridge to be utilized to enable bidirectional swaps.

The project noted that the supply of new S tokens will match the supply of FTM to facilitate the token migration process after the launch of the Sonic chain.

Currently, the Fantom price is about $0.908, reflecting a nearly 15% increase in the past 24 hours.

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