Fantom enjoyed a sharp spike last week. It traded as low as ~ $0.35 on Dec. 11, peaked at $0.45 on Dec. 15, and closed at $0.43 on the weekend. The peak price not seen since May 2023 is consistent with the rising investing interest in cryptocurrency.
Bitcoin (BTC-USD) peaked at $44,543 on Dec. 8 before closing at $42,425 on the weekend. Fantom investors will want BTC over FTM first. Fantom investors lost millions after an exploit on its heavily connected Multichain protocol. The Fantom Foundation must earn back its user’s trust.
The Foundation continued its commitment to Web3. In July, it acknowledged the impact the hack on Multichain had on Liquidity Providers. It is working toward reducing its network’s reliance on any single particular solution involved in bridging and liquidity.
On Dec. 15, Fantom announced the launch of a new network that replaces open testnet. Read the post here:
https://blog.fantom.foundation/launching-fantom-sonic-builders-testnet/
It invited users to try out the performance of Sonic. Users may claim tokens and perform swaps directly through its web dashboard. Developers now have tools to launch dApps on Sonic technology. Some of the key features include 100% compatibility with EVM and current Opera. In addition, the new builders testnet will be launched with Sonic Safe service and The Graph Node (which the Foundation runs).
