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Fantom Rebrands to Sonic: Should FTM Holders Hold or Sell?
The cryptocurrency market is witnessing a significant change as Fantom (FTM) rebrands itself as Sonic. As part of the rebranding, FTM holders will receive a 1:1 swap for the new token, S. The event is expected to take place in January 2025.
As this change approaches, many FTM investors are left wondering whether they should hold on or cash out. To provide clarity, let’s dive into what’s happening and explore the potential implications of this rebranding on the token’s future.
What’s Happening with FTM?
FTM has recently announced its decision to undergo a major transformation by changing its name to Sonic (S). This change is expected to take effect in January 2025, when FTM holders will be provided with a 1:1 swap for the new token.
The rebranding of Fantom as Sonic comes at an interesting time for cryptocurrency enthusiasts. As we move into this critical period, it becomes crucial for investors to stay informed and make decisions based on accurate information.
What Should FTM Holders Do?
Now that we have a better understanding of what’s happening with FTM, let’s explore the potential implications of this rebranding on the token’s future.
FTM (now Sonic) has been performing reasonably well in recent times. The token is currently ranked among the top 20 cryptocurrencies and boasts impressive development projects. Considering its performance and prospects, it could be a good idea for investors to hold onto their FTM tokens until further notice.
However, there are certain price levels that should not be ignored. In case FTM drops below $0.91 in the near future, it might be an excellent time for investors to consider selling their stakes.
Source: cryptonewsland.com
