Fantom wins the weekly cryptocurrency race. What is the reason for its increase?

Important facts:
  • Coinbase International will add Fantom to its perpetual futures market.

  • If monthly price increase is considered, it exceeds 200%.

Fantom (FTM), the native cryptocurrency of the network of the same name, has had a notable performance this week. This digital asset is the one that has appreciated the most among the 100 assets with the highest market capitalization in the last 7 days.

FTM has seen a significant rise, going from $0.75 to $1.8 in just seven days. Which represents an increase of more than 60% in its price, Thus, Fantom has reached levels not seen since April 2022, as the following chart shows. trading view,

This increase in FTM is particularly noteworthy given the general context of the cryptocurrency market, where Bitcoin (BTC)’s decline in recent days has driven most coins down. However, FTM has shown strength by staying upstream Register over 200% monthly growth,

ftm market capitalization now worth $3.2 billion, In the ranking of top 100 cryptocurrencies, FTM is in 42nd place data Coinmarketcap.

The thing to highlight these days is that Fantom is not a cryptocurrency based on any meme. Let’s remember that so far in March, memecoins have received a considerable boost, especially those that reside in the Solana network, as reported by CryptoNoticias.

One reason for the increase in FTM was Advertisement Coinbase International, the version of the exchange for non-US investors, Will add Fantom to its perpetual futures market on March 28.

Additionally, FTM’s progress was supported by Phantom Network’s progress towards transitioning to its new mainnet, Phantom Sonic. Scheduled for spring (in the Northern Hemisphere) 2024, Phantom Sonic Without the need for forking, the Phantom Virtual Machine (FVM) represents an improvement, providing greater efficiency and functionality through database storage called Carmen and an optimized Lachesis consensus mechanism.

Phantom Sonic’s implementation Its going onWhat is displayed with the updated and closed tests of nodes Maximum theoretical throughput of 2,000 transactions per second (TPS) with very fast closing times, These technological advancements could continue to drive the price of FTM higher as the time for the Phantom Sonic mainnet to become operational approaches.

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