For the week ended Dec 2, 2023, Fantom (FTM) traded in a narrow range at around 0.30 – 0.309. Bitcoin rose from $37,460 to $40.580 while Ethereum (ETH) traded below $2,060 on Nov. 27 to close at $2,212. Negative sentiment in the cryptocurrency space prevented Fantom from following BTC and ETH. Despite increasingly better fundamentals, crypto markets are not recognizing Fantom.
Skeptical FTM investors are wary after the crypto peaked in February. Since then, the Sonic testnet phase ensued. Per a blog entry from Ash V. Khatibi posted here - https://blog.fantom.foundation/touring-sonic-what-is-time-to-finality/ - people engaging with the open testnet may experience the incredible performance. They may evaluate the network’s speed and its transactions.
Next year, Fantom fans may look forward to Sonic Mannet. The Fantom Foundation scheduled it for the sprint of 2024. This will evolve Fantom into a new era. Sonic will achieve over 2,000 transactions per second (“TPS”) in only a second. At its upper limit, the network will allow sub-second finality. Moreover, Sonic will cut storage requirements by up to 90%. In real-world terms, the storage reduction will let anyone launch validator notes at sharply lower costs. It benefits from better synchronization times. The Fantom Foundation said that it and other parties may deploy archive notes in around 36 hours.
