Meanwhile, the S token will not experience any inflation in the first six months, which is positive since investors can rest assured that there won’t be a supply shock following Fantom’s transition to Sonic. Other bullish fundamentals sparking the FTM price recovery include the fact that Andre Cronje, Sonic Labs’s co-founder, will build new decentralized finance (DeFi) primitives, with 90% of gas spent said to be going back to applications and developers. The Charts Also Support Fantom’s Bullish Fundamentals Crypto analyst Jagoilio recently highlighted how the charts support the FTM price recovery, with the coin likely to rise higher.
Investors consider Fantom’s transition to Sonic bullish, which explains why they are investing in the FTM ecosystem ahead of the launch. Related Reading: Cardano (ADA) Enters Stage 3 That Will Trigger 4,500% Rally To $15 According to the announcement, the layer-1 network Sonic will be EVM-compatible, enabling decentralized applications (dApps) built on other EVM chains to be integrated into the network easily.
The FTM price recovery is thanks to Fantom’s fundamentals, which have sparked a positive sentiment among investors. What Is Driving The FTM Price Recovery Fantom’s price recovery is mainly driven by its bullish fundamentals, especially the imminent launch of the Sonic network.
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