Sonic Cryptocurrency Jumps Over 11% as Total Value Locked Reaches $707 Million
Sonic (formerly Fantom) Performance
- Price increased by over 11% in the past 24 hours, reaching a high of $0.9891.
- 62.35% rise in the last week; currently trading at $0.8867.
- 13% away from its all-time high of $1.03.
Transition and Vision for 2025
- Sonic transitioned from Fantom in January with support from several exchanges.
- Andre Cronje outlined Sonic's vision:
- 90% of gas fees will go to dApps.
- Subsidies to eliminate onboarding gas friction.
- Dynamic fee structures for apps.
- Removal of traditional wallets for seamless user experience.
Total Value Locked (TVL)
- TVL has surged to $707 million from $27 million at the start of the year.
- 16% increase in the last day.
S Token Price Analysis
- RSI at 73.80 indicates overbought conditions.
- Potential retest of the $1 price tag is expected.
- MACD shows bullish control, but signs of increasing sellers are evident as traders take profits.
