⇘ Fantom's Feat: Transition to Sonic Sees Success Amid Challenges

Fantom, a high-performance, scalable, and secure smart-contract platform, has rebranded to Sonic amid promising advancements and minor setbacks. The rebranding is in line with the launch of its superior Sonic protocol, aimed at enhancing speed and scalability – key foundations for Decentralized Finance (DeFi) dominance. The transition saw Fantom's native token, FTM, swapped for Sonic's new token, S, supported by leading exchanges like Binance and Bitvavo. Moreover, Sonic launched its mainnet, leading to a significant surge in Total Value Locked. However, with the buzz, there were some anomalies as evident in the 52% loss, sparking sell-offs. The dip was attributed to weak whale sentiment and strengthened bearish momentum. Nevertheless, the project is still fancied by its developers, testing strong support indicating a possibly completed correction. Prospects of Sonic remain optimistic with analysts foreseeing a significant price breakout in forthcoming years. Andre Cronje's return to spearhead the project also points towards potential redemption. Additionally, Fantom is named in various significant partnerships and projects, notably with Porsche and Frauscher to develop an electric speedboat. It's also associated with the wallet provider Crypto.com and trading platform Bybit.

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