In the fast-paced world of cryptocurrency, Fantom's native token FTM has stood out as the best-performing non-meme token in the last 30 days.
Fantom's FTM Becomes the Best Performing Cryptocurrency Among Network Upgrade Prospects
With a staggering increase of over 190% in just four weeks, FTM has captured the attention of investors and enthusiasts alike, propelling it to new heights in the digital asset world.
According to data from CoinGecko, the price of FTM jumped from $0.40 to $1.20, reaching its highest value since April 2022.
With this phenomenal rise, the token's market cap rose to $3.29 billion, solidifying its position as the 41st largest cryptocurrency globally.
In contrast, industry giants such as Bitcoin and Ethereum posted relatively modest gains; Bitcoin increased by 28% and Ethereum by approximately 20% in the same period.
A major catalyst behind Phantom's meteoric rise appears to be the upcoming Sonic upgrade, which is planned to increase transaction processing speeds on the Layer 1 blockchain.
The Sonic mainnet, which will replace the current Opera mainnet in the coming months, promises a significant increase in transaction throughput and efficiency.
During closed testing, the Sonic upgrade showed a theoretical throughput of 2,000 transactions per second (TPS) and a turnaround time of just 1.1 seconds. This impressive performance dwarfs the current capabilities of the Opera mainnet, which recorded just 3.2 TPS.
*This is not investment advice.
