Sonic

Fantom

Daily

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<a href="https://u.today/fantom-ftm-suddenly-up-13-whats-going-on-1" rel="noopener noreferrer nofollow">Fantom (FTM)</a>, the native token of the Fantom blockchain, has soared by over 31% in the past 24 hours.
The price increase follows a period of decline and consolidation, during which FTM fell by approximately 80% from highs of $0.566 on Dec. 26, 2023. <img alt="TradingView" data-entity-type="file" data-entity-uuid="18c9b96d-6712-4c38-a358-045a518a3df4" src="https://u.today/sites/default/files/inline-images/04032024%200000.png"><a href="https://www.tradingview.com/x/8tNyd102/" rel="noopener noreferrer nofollow">FTM/USD Daily Chart, Courtesy: TradingView</a>
FTM began a modest recovery from a low of $0.30 on Jan. 23, albeit still in consolidation. On March 3, the price burst out of the range, surpassing the previous barrier of $0.56. Following three days of advances, Fantom soared to an intraday high of $0.748 on Monday before receding.
At the time of writing, FTM was up 28.29% in the last 24 hours to $0.658. The token has likewise gained 59% in the last seven days. &nbsp;
<h2 id="what-are-reasons-for-ftm-s-comeback">What are reasons for FTM's comeback?</h2>
As reported, the cryptocurrency market saw over $48.54 billion in capital inflows, the biggest since October 2021. &nbsp;Bitcoin inched closer to its all-time high, reaching $65,614 during today's trading session. Other tokens, known as altcoins, also climbed in response to Bitcoin's rally.
Fantom likewise experienced inflows as whales made significant purchases. According to <a href="https://twitter.com/spotonchain/status/1764511023191515190" rel="noopener noreferrer nofollow">SpotOnChain</a>, a whale purchased 4.71 million FTM at approximately $0.57 per coin, totaling $2.69 million, via Gemini and Airswap over the last two days, and even made FTM purchases in recent hours.
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 The <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTM</a> made a great comeback (+31%) today!Whale 0xdf8 bought a total of 4.71M <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTM</a> at ~$0.57 ($2.69M) via <a href="https://twitter.com/hashtag/Gemini?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Gemini</a> and <a href="https://twitter.com/hashtag/Airswap?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Airswap</a> in the last 2 days, now making $600K (+22%).Notably, he/she last bought <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FTM</a> only an hour ago. Is the whale still bullish on an even bigger pump?… <a href="https://t.co/7GW2SR1ZCF" rel="noopener noreferrer nofollow">pic.twitter.com/7GW2SR1ZCF</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1764511023191515190?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 4, 2024</a>
</blockquote>
The Fantom network has seen new improvements and <a href="https://messari.io/report/state-of-fantom-q4-2023" rel="noopener noreferrer nofollow">developments</a>. Fantom's major endeavor in Q4'23 was the Fantom Sonic update, which attempts to improve network scalability. Ultimately, Fantom Sonic seeks to make Fantom one of the best-performing monolithic blockchains by increasing transactions per second (TPS), lowering storage costs, and maintaining near-second time to finality (TTF).
For the rest of 2024, Fantom Sonic is projected to play an important role in Fantom's continued<a href="https://u.today/fantom-ftm-leaps-20-weekly-as-blockchain-embraces-web3-innovation" rel="noopener noreferrer nofollow"> expansion</a>. In addition to the aforementioned Fantom Sonic update, initiatives like the Ecosystem Vault and Gas Monetization Program helped developers and users stay engaged in the network.

Fantom (FTM) Skyrockets 31% in Astonishing Comeback, Here's Why

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