Fantom Price ($FTM ) Up 40% in a Month – What’s Behind the Momentum?

Fantom price is showing a classic bullish pattern that could extend its one-month double-digit rise.

Fantom price €$FTM 0.5968 is up 25% in seven days to $0.51 on Sept. 16. This is part of a bounce that began on Aug. 6 and has seen the price rise by over 40% over the past 30 days.

Data from Cointelegraph Markets Pro and TradingView shows that FTM rose from a low of $0.26 on Aug. 5, climbing as much as 103% to an intraday high of $0.53 on Sept. 16.

Thus, the performance of $FTM over the past 30 days has made it one of the top-100 cryptocurrencies by market cap over a one-month period.

Perhaps the most notable development on Fantom is the Sonic upgrade, which is expected to significantly improve network performance by introducing a new Fantom Virtual Machine (FVM), an optimized Lachesis consensus mechanism, and Carmen database storage.

Sonic is scheduled to launch in November or December 2024.

Following this upgrade, the Fantom blockchain will be able to process over 2,000 transactions per second (TPS) with a completion time of about one second. This will be a substantial improvement from the current 30 TPS. The closed testnet with simulated traffic has demonstrated a theoretical peak throughput of 2,000 transactions per second (TPS) with a completion time of 729 milliseconds, marking an important milestone in blockchain development.