Fantom’s Co-Founder Hints At ‘Something Bigger’ This Summer and Defends Solana: FTM Price Jumps
Fantom Co-founder Andre Cronje announced on X (formerly Twitter) that the “Sonic upgrade” is set for spring with a “bigger” target for summer.
Growing excitement for the Sonic upgrade and a hinted ‘bigger’ target alluded to for summer has reignited investor enthusiasm, as FTM price soars 8% on the day.
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The Fantom Sonic Upgrade
Scheduled for spring, the Sonic upgrade promises to be a “breakthrough upgrade” that is set to scale the Fantom network “to new heights.”
The upgrade will require no hard fork and is considered the “next iteration of the Fantom network.” It will introduce a new virtual machine, optimized consensus mechanisms, and improved database storage for users.
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Show more +Despite Fantom’s notable transaction speed and efficiency, the Sonic upgrade aims to achieve over 2000 transactions per second (TPS). This represents a huge improvement in Fantom performance as Sonic advances Fantom’s commitment to the continuous improvement of transaction processing efficiency and scalability.
Fantom as Solution to Solana Congestion
Following Solana’s (SOL) congestion issues, Fantom has entered the spotlight as an indirect beneficiary of the bottleneck — championing its “horizontal scaling” narrative.
Despite the narrative that SOL users hindered by congestion issues are being pushed towards Fantom, Cronje defended Solana — attributing the issues to “an engineering hurdle” and being a “victim of success.”
Introduction of Fantom’s Bridging Stablecoin: USDC.e
Fantom also announced USDC.e, a bridging stablecoin that promises an easy path to native USDC that is supported by Circle and Wormhole.
By leveraging the Wormhole bridge, the Fantom Foundation has cleared a pathway for users to upgrade bridged USDC to native USDC while providing liquidity for the bridging stablecoin on Wormhole.
“As USDC.e begins to proliferate and gain a vast amount of holders and dApp integrations, Circle may consider stepping in to upgrade its token contract to native USDC.”
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