In a remarkable display of strength, Fantom's FTM token has surged 13% in value over the past week, outperforming the broader cryptocurrency market. This notable rise is attributed to the ongoing Sonic update and a significant increase in the total value locked (TVL) in its decentralized applications (dApps).

The FTM token has shown impressive resilience, reaching $0.81 with a 13% increase in just seven days, while the top 20 cryptocurrency index only saw a 1.5% rise during the same period. This disparity indicates a bullish sentiment towards Fantom, driven by recent developments in its ecosystem.

The Sonic update, aimed at boosting transaction speeds to 2,000 transactions per second (TPS) with a finality of 1.1 seconds, has been a key driver of this positive market sentiment. Currently, 25 out of 60 nodes have completed compatibility with the update, paving the way for a seamless transition to the new version.

Fantom's TVL has also seen a significant increase, rising from $111 million to $203 million, according to DeFiLlama. This growth is attributed to a broad rise in TVL across various dApps supporting the Fantom Blockchain, indicating increased confidence and interest from investors and users. With its growing ecosystem and technological advancements, Fantom is poised to maintain its momentum and continue to stand out in the cryptocurrency market.