What caused FTM to surge 144% in March?

There’s always a bull market in the cryptocurrency space, and this month, Fantom Network (FTM) stands out among other smart contract platforms thanks to a massive price increase! What developments are driving FTM’s huge gains?

Since the beginning of March, FTM has increased by as much as 144%, while most L1 blockchain tokens have faced survival challenges during this period, and their performance has been relatively weak, with gains of only a few percentage points. Or even perform poorly.

Source: TradingView

As the Fantom ecosystem was hit hard by a multi-chain vulnerability last year, $130 million was lost from the Fantom Bridge in July of cryptocurrency. Still, many cryptocurrency Twitter influencers are bullish on the chain’s future recovery prospects. They believe that despite the losses, Fantom may rebound in 2024 and regain its position in the cryptocurrency market. This optimistic attitude shows that despite the difficulties, Fantom still has strong potential and appeal, making people optimistic about its future development.

Popular capital has invested in Fantom, and the Sonic mainnet is expected to be released soon, which is expected to significantly increase network throughput, from the current 2.4 transactions per second (TPS) to 2,000 TPS!

Fantom founder Andre Cronje said on Twitter that he believes that the release of Sonic has laid the foundation for the chain to support the operation of various high-performance applications in the future, covering games, social media, streaming media and High-frequency trading and other fields. These applications have extremely high requirements for high TPS performance.

While Cronje's promises are very ambitious, it's unclear whether the network's increased throughput will be an attraction, considering that many alternative L1 blockchains have begun to commoditize and Ethereum's L2 layer has just significantly reduced transaction fees. The important differentiating factors of users and capital remain to be seen. As the crypto market develops rapidly, users and investors are paying more attention to the performance and efficiency of the network, so increasing the throughput of the network may have a positive impact on its attractiveness. However, to attract more users and capital, it may not be enough to rely solely on improving network throughput. Network security and

must also be taken into consideration.

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