FTM Soars to Highest Level Since April 2022

Sonic, formerly Fantom, is gearing up for its public launch, and market participants are bidding up FTM.

FTM, the Fantom token, which will be migrated to Sonic’s native $S token, is up over 80% in the last two weeks as traders and investors position themselves for the launch. Fantom has surpassed a $4 billion fully diluted valuation (FDV) for the first time in over two years.

FTM jumped by as much as 30% to $1.31 after Sonic Labs posted, “Genesis achieved. Block zero. Infrastructure deploying. Public soon.”

Since then, Sonic has announced that Frax Finance will be deployed on Sonic and also released a teaser of what it refers to as “Meme Mania.” Details are scarce, but it is presumed that Meme Mania will be a memecoin trading campaign with a 1,000,000 $S prize pool.

Yearn and Fantom founder Andre Cronje said, “Just the start. Bridge and infra going live over the next few days. Then the real fun begins. Will launch my dapps in stages; bringing ICOs, fair launches, and retroactive airdrops back to show what Sonic can really do.”

Developers are also preparing for the launch. Abracadabra and Wonderland founder Daniele Sestagalli is proposing Wagmi DeFi Protocol’s deployment on Sonic, and Sesta also teased a new AI agent endeavor on Sonic. He posted, “Launched first DeFi project of mine on $FTM, now launching first AI Agent of mine on $S Sonic.”