Leading the downturn today, Fantom (FTM) contributes to the 2% drop in the crypto market after weeks of growth.
Fantom is one of those altcoins that followed the broader momentum of the market. The latest market data shows that the token is down 10% in the past 24 hours, but is still on the green in the bi-weekly timeframe at 14%. However, Fantom has a trick up its sleeve to curb this brewing bearishness potentially.
Fantom CEO Michael Kong Unveils Sonic Launch
Sonic is the brand-new technology that the Fantom has been developing in the past 2 years. According to their latest blog post, Sonic was able to surpass the network’s 200 transactions per second metric. Although 200 TPS was already impressive compared to Ethereum’s 12 TPS, the network was quickly congested, and user experience deteriorated.
Kong said in the blog post:
“Sonic will be used to create a new best-in-class shared sequencer for L1 and L2 chains, capable of processing over 180 million d
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