Fantom Foundation has announced the launch of its first validator using Sonic technology, resulting in an 8% price increase for the FTM token. The new technology is part of the Layer-1 scalable network, designed to improve blockchain scalability.

The development of Fantom Sonic technology is a response to the limitations faced by the previous Opera network. Led by Fantom founder Andre Cronje, the Opera network introduced a permissionless Directed Acyclic Graph (DAG) protocol with significant speed and scalability improvements compared to Ethereum. However, the network still faced challenges during congestion, prompting the research and implementation of Sonic technology.

Over the past two years, the Fantom team has worked on developing and integrating Sonic technology to enhance the network's capabilities. This upgrade showcases Fantom's commitment to innovation and sets a new standard for blockchain infrastructure, with the technology capable of processing over 180 million transactions daily with real-time confirmation.

Upon the announcement of the Sonic upgrade, the price of Fantom (FTM) surged by 20% to $1.22, later stabilizing at $1.15 with a market capitalization of $3.22 billion. Following the launch of the validator utilizing Sonic technology, FTM experienced an 8% price increase, reaching $1.

In addition to the Sonic validator milestone, Fantom has been making progress across several fronts. Andre Cronje hinted at the potential addition of memecoins to the Fantom ecosystem, signaling ongoing due diligence efforts amidst the memecoin craze.

Furthermore, the launch of USDC.e, a stablecoin bridged from USDC with support from Circle and Wormhole, offers promising benefits for users and developers within the Fantom community.