Fantom Foundation’s Sonic Testnet Goes Live: How Did FTM React?

• FTM hovered around $0.22 but its movement depends on buying strength and money flow.
• Open interest increased, which could indicate high demand in contracts linked to FTM.
• Fantom announced the launch of the Testnet developed to provide better efficiency for the DeFi ecosystem.

Fantom Foundation announced the official launch of the Sonic Testnet, aimed at improving smart contract execution on the DeFi platform. The development of the Sonic Testnet is dedicated to three things.

First, Fantom noted that the upgrade will come with a Fantom Virtual Machine which would be much more efficient than the popular Ethereum Virtual Machine (EMV). Other functions of the Sonic Testnet include cost reduction for validators, 90% storage reduction for data structures, and access to an optimized transaction pool.

Befor…

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