5.16 Token Analysis of $FTM

As of 9:43 am, FTM ranked second in the top 10 of Binance's growth, with a price of $0.7574, a 10.02% increase, and a 24-hour trading volume of $78.8832 million.

Recently, these relevant news may promote the rise of FTM:

1. Fantom Foundation announced the upcoming new Opera upgrade, which is supported by Sonic technology and mainly improves the scalability of the network.

Major changes include the introduction of a new storage system, which may reduce the storage requirements of validating nodes by more than 90%. It also includes optimization and fine-tuning improvements to the Lachesis consensus mechanism.

2. Messari released the Fantom 2024 Q1 status report, showing month-on-month growth in multiple key indicators, such as a 101% increase in market value and a 24% increase in average daily active addresses.

In addition, Fantom's DEX monthly trading volume exceeded $1 billion for the first time and reached an all-time high in March.

3. Michael Kong, CEO of Fantom Foundation, announced the initial release plan of Sonic in March. And the five winners of Sonic Labs incubator project were selected in Q1, each project will receive 200,000 FTM and receive development support before the launch of Sonic mainnet.

These events may be one of the key reasons for the rise of FTM tokens. The technical upgrades of Fantom Foundation and the positive reports released by Messari show the development and activity of Fantom ecosystem, which may increase investors' demand and market attention for FTM tokens, thereby driving up prices. #山寨币热点