As the crypto market struggles to find a clear direction, an unexpected player is grabbing all the attention: Sonic blockchain. Its S token is experiencing a meteoric rise. Stay tuned for all the details in the upcoming paragraphs!
Since the beginning of the year, Sonic has been defying all expectations. In a global context where DeFi seems to be slowing down, the Sonic blockchain has seen its TVL explode. Starting at 27 million dollars in early January, it reached over a billion dollars in just 66 days. A thunderous performance that even surpasses the records of Aptos and Sui, which took 709 days and 505 days respectively to reach this symbolic milestone.
This dizzying growth is driven by an expanding Sonic ecosystem. Innovative projects are also joining the momentum, further enhancing the appeal of this blockchain. Notable mentions include:
According to several crypto experts, this success is also attributed to solid technical fundamentals:
The recent soaring price of Sonic (S) is also explained by two announcements that are captivating crypto investors:
Coupled with an attractive economic model (90% of fees returned to developers), these announcements are creating a strong enthusiasm. Many actors are already adopting a “buy the rumor” strategy, anticipating a surge in Sonic’s price in early May.
The S token recently reached a peak around $0.60 before experiencing a correction. Its price currently hovers around $0.52. There is significant resistance at $0.80, and some analysts believe that surpassing this threshold could pave the way towards $1.
However, the bullish scenario heavily relies on the reception of the early May announcements. The Kraken listing and the introduction of native USDC must deliver on their promises. In case of disappointment or unfavorable market conditions, the price of Sonic could drop below $0.40, a support level that has been tested before.
Regardless, the current setup remains favorable with:
Sonic is establishing itself as a next-generation blockchain. May looks to be a particularly decisive month for the price of the S token. It could indeed reach new heights if expectations are met. A project to closely monitor for any informed crypto investor!
Léa is a member of the InvestX team, dedicated to guiding users through their learning journey. Passionate about cryptocurrencies, she closely follows market trends. On InvestX.fr, Léa writes articles to help readers decode the latest news and stay informed about the ever-evolving blockchain world.
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