Fantom ($FTM) Rises Again: Sonic Chain's TVL Surpasses $100 Million

Fantom (FTM) is back on a growth trajectory, thanks to the Sonic Chain protocol reaching a major milestone: surpassing $100 million in Total Value Locked (TVL). This achievement has shifted FTM’s price trend from a downward slope to recovery, drawing significant attention to the cryptocurrency.

Following Sonic Chain’s announcement, FTM experienced a resurgence, breaking past the $0.70 resistance level within 24 hours. This price rebound, fueled by the excitement surrounding Sonic Chain, could pave the way for further growth in FTM’s value.

Fantom Rises Again

Reports highlight that the protocol reached this milestone in under six weeks since the launch of its Genesis block. Additionally, Sonic Labs, formerly known as Fantom Labs, has rolled out several decentralized applications (DApps) and introduced an Ethereum bridge in December 2024 to strengthen the network’s infrastructure.

As of January 13, the protocol will begin converting FTM tokens into its new “S” token format. Currently, Fantom is priced at $0.7206, marking a 2.82% increase over the past 24 hours. Over the past week, FTM’s value climbed from a low of $0.6929 to a high of $0.7296.

Despite a 71% growth in 2024, Fantom ’s performance lags behind competitors like Solana, which has seen a 90% increase. However, Sonic Labs aims to transform Fantom ’s future through improved speed, connectivity, and ecosystem development, with predictions suggesting FTM could reach $1 in the short term.

The growing market confidence in blockchain technology, coupled with support for decentralized finance (DeFi) from the upcoming Donald Trump administration, is expected to further boost Fantom and similar altcoins.

Fantom ($FTM) Rises Again: Sonic Chain’s TVL Surpasses $100 Million

Fantom Rises Again

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