⇑ Fantom Rebrands and Soars with Sonic Upgrade: Is FTM Buoyed for Takeoff?

Fantom, a leading blockchain project, is pivoting to new heights with the launch of Sonic Chain, a faster network, engineered by Sonic Labs. Prompted by its ambition to further cement its foothold, Fantom has rebranded as Sonic Labs. The organization is poised to launch its Ethereum Virtual Machine (EVM) chain, promising a marked increase in operational efficiency. This notable movement precedes the positive price momentum of Fantom's native token, FTM, amidst a string of strategic collaborations indicating a robust ecosystem. Among these partnerships include Alchemy and Google Cloud to enhance infrastructure and AI capabilities. Additionally, Fantom is leading the ceasefire in the ongoing blockchain war, as observed in Fantom CEO's defense of fellow-blockchain project Solana's network issues. In response to FTM's performance, analysts predict the potential for a significant surge, with some estimates eyeing a 522% increase. However, this bullish prediction stands alongside warnings of potential price correction based on key on-chain metrics. Through the unveiling of the Sonic Foundation, Fantom is aspiring to influence the narrative surrounding meme coins with the deployment of a $6.5 million developer fund aimed at fostering safer meme coins. The Foundation's commitment to future developments is demonstrated by a staggering allocation of $144 million FTM for the Sonic Labs Accelerator Program. Moreover, the commitment is evident from its efforts to recover assets following Multichain's $200m exploit, securing a court order obliging Multichain Foundation to pay $2.1m to Fantom. This bullish tide, however, should not overshadow valid concerns like Fantom's revenue drop despite an increase in active monthly users and ongoing allegations of a 'liquidation' scheme.

Fantom News Analytics from Tue, 16 Jan 2024 08:00:00 GMT to Sat, 03 Aug 2024 06:30:35 GMT - Rating 8 - Innovation 8 - Information 7 - Rumor 2