Ethereum (ETH) rival Fantom (FTM) has outpaced the broader crypto market and surged in value this week amid a brand new improve.
FTM is buying and selling round $0.801 at time of writing.
The Fifty fifth-ranked crypto asset by market cap is up almost 5.5% up to now 24 hours and greater than 15% up to now week.
By comparability, the general crypto market cap is down 1.5% up to now 24 hours and up round 5% up to now seven days.
Validators on the Fantom Opera mainnet began upgrading their nodes to be powered by the mission’s new “Sonic” expertise on Tuesday. Fantom says Sonic will “scale the community to unprecedented heights” and might course of 2,000 transactions per second.
The brand new expertise may even scale back storage necessities by as much as 90%, in response to the mission.
It’s not the one current tech improvement for the mission: Final month, Fantom announced a brand new “canonical” stablecoin in partnership with USDC-issuer Circle.
Fantom mentioned it utilized the cross-chain messaging protocol Wormhole (W) to roll out the brand new stablecoin, USDC.e.
Explained the Fantom Basis,
“USDC.e on Wormhole is bridged from native USDC, situated in a sensible contract on Ethereum, and holds the potential to be upgraded to native USDC sooner or later. It will likely be the official, endorsed stablecoin of the Fantom ecosystem (and all future community upgrades).”
This initiative reduces liquidity fragmentation, introduces stability, and supplies further on-ramps to the ecosystem. By leveraging the Wormhole Native Token Transfers (NTT) customary, USDC.e can be obtainable to all customers and builders on Fantom.”
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