Sonic (prev FTM) is experiencing a surge in price, with a 15.29% increase observed today. At writing, Sonic’s price stands at $0.5966. Sonic’s token is rising after they announced becoming the fastest blockchain network out there. This puts them in a strong position among other blockchain projects, opening up new possibilities for developers.
What’s behind Sonic’s success? They’ve built the fastest Layer 1 blockchain that’s compatible with Ethereum, processing more than 10,000 transactions every second – and they complete almost instantly. This means developers can build apps that work smoothly even with lots of users and heavy traffic. Sonic wants to be the top choice for developers who need to build large-scale apps that can make money.
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The network’s speed and performance are not the only reasons for the current price movement. They’re doing something interesting with fees too. Through their Fee Monetization program, developers can earn back up to 90% of what their apps generate in fees. It’s similar to how websites make money from ads but adapted for blockchain. This approach seems to be creating a system that works well for developers and users.
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Sonic Rising Volume and Market Sentiment
The market seems to agree – trading volume is up by more than 110%, showing that investors are paying attention and feeling optimistic about where Sonic’s price is heading.
Top analyst CryptoBull_360 mentioned on X that Sonic breaking out of an inverse head and shoulders pattern has further fueled bullish sentiment. Looking at the charts, Sonic’s price seems to be trending up, with more people buying and trading it lately.
The project is valued at $1.7 billion when you include all tokens. That’s quite small compared to similar blockchain platforms; for example, SUI is worth about $32 billion. A lot of investors think Sonic might be underpriced, especially since people have already put over $400 million into its DeFi projects.
Sonic’s Future Prospects
Big things are happening in Sonic’s ecosystem. AAVE is about to launch there, and well-known crypto developer Andre Cronje is getting involved. These developments, plus all the growth in DeFi, could push Sonic’s price higher. Both investors and developers are watching Sonic closely; it’s starting to look like it could become a major player in crypto.
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