Analysts have singled out cryptocurrencies whose value has increased by more than 40% in a month

The Fantom cryptocurrency (FTM) is showing significant growth amid a general market downturn. Over the past 30 days, its value has increased by more than 40%, reaching $ 0.51 as of September 16.

This rapid growth comes amid the fall of Bitcoin and Ethereum. According to Cointelegraph Markets Pro and TradingView, the price of FTM rose from a low of $ 0.26 on August 5 to a high of $ 0.53 on September 16, showing an increase of 103%.

Analysts attribute Fantom’s success to the active development of the project. The most anticipated event is the Sonic update scheduled for November-December 2024. This update will significantly improve network performance.

After the implementation of Sonic, the Fantom blockchain will be able to process more than 2000 transactions per second. This is a significant improvement over the current 30 transactions per second. Transaction finalization time will be reduced to about one second.

The upgrade will also reduce data storage requirements by 90%. This will make the network nodes more economical and accessible. Sonic will be fully compatible with existing Ethereum tools and smart contracts.

Despite the price increase, the total cost of funds in Fantom’s decentralized financial applications remains low. According to DefiLlama, this figure is $ 86.5 million, which is significantly less than the peak value of $ 7.93 billion in March 2022.