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 practically 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 undertaking’s new “Sonic” know-how on Tuesday. Fantom says Sonic will “scale the network to unprecedented heights” and can course of 2,000 transactions per second.
The brand new know-how may even cut back storage necessities by as much as 90%, in accordance with the undertaking.
It’s not the one current tech growth for the undertaking: Final month, Fantom introduced a brand new “canonical” stablecoin in partnership with USDC-issuer Circle.
Fantom stated 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, located in a smart contract on Ethereum, and holds the potential to be upgraded to native USDC in the future. It will be the official, endorsed stablecoin of the Fantom ecosystem (and all future network upgrades).”
This initiative reduces liquidity fragmentation, introduces stability, and offers further on-ramps to the ecosystem. By leveraging the Wormhole Native Token Transfers (NTT) normal, USDC.e shall be obtainable to all customers and builders on Fantom.”
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