In the recent crypto correction, the performance of FTM, which has been beaten by the public chain Sanshou, is shocking: it is ridiculously strong! From a low of $0.3574 on September 6 to a four-month high of $0.7642 on October 1, FTM rose as much as 103% throughout September, which is even more eye-catching in the context of the recent Bitcoin retracement of 6,000 points. !

What made one of the three fools of the former public chain suddenly become hard-core? The reason for this is that FTM's spot trading volume has soared, surpassing $450 million on October 1, growing by 77% in the past seven days, and by approximately 450% in the past 30 days. The underlying reason is that the community is excited about the upcoming update, known as the Sonic upgrade, which is scheduled to roll out in November or December.

The new Sonic chain is expected to significantly improve network performance by introducing a new Fantom Virtual Machine (FVM), optimized Lachesis consensus mechanism, and Carmen database storage.​

After the upgrade, the Fantom blockchain will be able to process more than 2,000 transactions per second (TPS), with final times of around one second. This will be a significant improvement over the current 30 TPS.​

To coincide with these preparations, the Fantom Foundation rebranded Sonic Labs on August 1st. The native token FTM is expected to change to the new token code $S by the end of 2024. The upcoming upgrade has reignited investor interest in the Fantom decentralized finance ecosystem.

Data from DefiLlama shows that the total value locked (TVL) in Fantom’s DeFi applications has grown 55% in the past month to $108.8 million. Between September 1st and October 1st, DAA (Daily Active Addresses) on the Fantom blockchain grew by 162%. The number of daily transactions also increased significantly, from 217,487 to 361,345 this month, a 66% increase. #加密市场急跌