The rebranding on August 1, 2024, wasn’t just a name change; it represented a strategic shift in vision. With this new identity, Sonic aims to offer greater scalability, faster transaction finality, lower fees, and a more developer-friendly Web3 environment. The network’s native token FTM became convertible 1:1 into the new S token, with the migration window remaining open for six months.

Core Pillars of Sonic: Speed, Security, and Interoperability

With its upgraded infrastructure, Sonic can theoretically process up to 10,000 transactions per second (TPS), with sub-second finality. This places Sonic among the fastest blockchains in the market.

At the heart of the network lies the Lachesis consensus protocol, built on asynchronous Byzantine Fault Tolerance (aBFT). Unlike traditional blockchains, Lachesis processes transactions by linking events rather than fixed blocks, allowing faster confirmation, reduced data usage, and ultra-low fees—typically as low as $0.001 per transaction.

Sonic is also fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to migrate Ethereum-based smart contracts without modifications. The Sonic Gateway bridge facilitates secure and low-latency cross-chain transactions between Sonic and Ethereum.

A Powerful Developer Incentive Model

Sonic Labs introduces an innovative revenue-sharing model to support on-chain developers. Through the Fee Monetisation (FeeM) program, developers can earn up to 90% of transaction fees generated by their decentralized applications (dApps).

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This model resembles how content creators earn income through platforms like YouTube or TikTok, making Sonic not only technically compelling but also financially rewarding for builders.

S Tokenomics and Network Design

The S token is the native utility token of the Sonic network. It powers the ecosystem by enabling fee payments, staking, governance participation, and validator rewards. It also replaces the former Fantom (FTM) token, with a seamless 1:1 conversion process designed to onboard the existing community.

Key Metrics

• Total Supply: 3.175 billion S
• Initial Circulating Supply: ~2.88 billion S
• Maximum Supply: None (regulated through controlled inflation and burn mechanisms)

Airdrop Program

Six months post-mainnet launch, an additional 6% of S tokens (~190.5 million) will be minted and distributed to both Fantom Opera and Sonic users and builders.

• 75% of airdropped tokens are locked in a 270-day vesting period.
• Early claims are penalized via token burns to incentivize long-term commitment and active participation.

Inflation & Block Rewards

To maintain decentralization and incentivize validators, Sonic follows a balanced issuance model:

• For the first 4 years, no new S tokens will be minted. Rewards will be funded using unclaimed Fantom Opera block incentives.
• After year 4, new S tokens will be minted annually at a controlled rate of 1.75%.
• Each year, 47.625 million S tokens will be allocated for network growth, team expansion, and marketing—any unused tokens will be permanently burned.

The structure has been preserved post-transition, with greater flexibility introduced through staking incentives, dynamic burning, and airdrop-based community growth.

Funding and Investors

To date, Sonic has raised a total of $101.54 million. 59% came from private rounds, and 41% through public sales.

Notable Investors:

• Galaxy Digital
• OKX Ventures
• SoftBank
• Hashed Fund
• Signum Capital
• Andre Cronje (Creator of Yearn Finance, Advisor)
• Stani Kulechov (Founder of AAVE)

Sonic Team

• Michael Kong – CEO
• Andre Cronje – CTO, DeFi Architect & Advisor
• Ahn Byung Ik – Founder
• David Richardson – Co-founder
• Bernhard Scholz – CRO

Staking & Validator Incentives

S token holders can stake their tokens to support network security and earn rewards. Depending on the total staked supply, annual reward rates range from 1.75% to 7%. A 14-day unbonding period applies for unstaking.

Validators also earn a share of network fees in addition to block rewards, further incentivizing honest and secure participation in network operations.

The Future of Sonic

Sonic is on a mission to build a sustainable, high-speed digital economy for the Web3 era. With comprehensive developer tools, built-in interoperability, and negligible transaction costs, Sonic positions itself not just as a blockchain—but as a full-fledged decentralized ecosystem.

Already integrated into sectors like NFTs, DeFi, gaming, and enterprise services, Sonic aims to expand globally through strategic partnerships, ecosystem funding, and community-driven development.

Official Links

• Official Website
• Whitepaper
• X (Twitter)
• Telegram

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The post What is Sonic (S)? appeared first on Coin Engineer.

Bitcoin Intraday Key Levels

The BTC/USDT pair has gained 3.72% in the last 24 hours, currently trading at $96,265. As previously analyzed, Bitcoin (BTC) rebounded from the $92,503 support and has experienced a significant upward movement. If this momentum continues, the next resistance level is $97,362. Key support levels are at $94,703 and $93,138.

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Ethereum (ETH): The ETH/USDT pair has gained 3.59% over the past 24 hours and is currently trading at $3,437. ETH’s resistance levels are first at $3,440, followed by $3,535. On the downside, support levels are at $3,290 and $3,217.

Stellar (XLM): The XLM/USDT pair has surged 25.45% in the last 24 hours, now trading at $0.43. XLM’s resistance levels are at $0.46, with the next at $0.477. Support zones are at $0.413, and in case of a deeper drop, $0.39.

Fantom (FTM): The FTM/USDT pair has increased 24.84% in the last 24 hours, trading at $0.849. FTM’s resistance levels are first at $0.863, followed by $0.923. Support levels are at $0.816, with deeper support at $0.776.

Render (RENDER): The RENDER/USDT pair gained 15.28% in the past 24 hours and is currently at $7.69. RENDER’s resistance levels are at $7.70, with the next at $8.00. Support levels include $7.51 and, if the drop deepens, $7.22.

Trending Coins

Over the last 24 hours, the most trending coins in the crypto market include ai16z (AI16Z), PHNIX (PHNIX), and Virtuals Protocol (VIRTUAL). The top gainers are Tokenize Xchange (TKX), Fartcoin (FARTCOIN), and Zerebro (ZEREBRO). On the other hand, the biggest losers include PHALA (PHA), Tokenize Xchange (TKX), and Moca Network (MOCA).

Bitcoin Liquidation Map

The 12-hour liquidation map for Bitcoin shows a significant upper liquidation at $96,953 with $22.52M. On the lower side, the largest liquidation stands at $94,160 with $48.32M.

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Bitcoin Intraday Key Levels

The BTC/USDT pair has lost 2.03% in value over the last 24 hours and is currently trading at $93,997. Bitcoin (BTC) has lost the previously mentioned $94,700 support level. If it starts rising again, the resistance level is $94,700. The support levels are $93,138 and $92,503, respectively.

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Ethereum (ETH): The ETH/USDT pair has lost 0.42% in the last 24 hours and is currently trading at $3,393. The resistance levels for ETH are $3,440, followed by $3,535. The support levels are $3,290 and $3,217.

Zcash (ZEC): The ZEC/USDT pair has gained 14.08% in the last 24 hours and is currently trading at $69.23. The resistance levels for ZEC are $74.61 and later $79.37. The support levels are $67.36 and, in case of a deeper decline, $63.17.

Bittensor (TAO): The TAO/USDT pair has gained 7.37% in the last 24 hours and is currently trading at $493.29. The resistance levels for TAO are $507.6, followed by $529.4. The support levels are $438.7 and, if the decline deepens, $398.8.

Cronos (CRO): The CRO/USDT pair has gained 2.49% in the last 24 hours and is currently trading at $0.1599. The resistance levels for CRO are $0.1624 and later $0.1711. The support levels are $0.1523 and, in case of a deeper decline, $0.1432.

Trending Coins

The most trending coins in the crypto market in the last 24 hours are RabBitcoin (RBTC), Pudgy Penguins (PENGU), and Koma Inu (KOMA). The top gainers include Horizen (ZEN), Supra (SUPRA), and Fartcoin (FARTCOIN). On the other hand, the biggest losers are Moca Coin (MOCA), Ethena (ENA), and Fantom (FTM).

Bitcoin Liquidation Map

Looking at the 12-hour liquidation map for Bitcoin, the most notable liquidation on the upper side is at $94,885 with $23.65 million. On the lower side, a significant liquidation is at $92,973 with $20.88 million.

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Bitcoin Daily Key Levels

BTC/USDT has gained 0.18% in the last 24 hours and is currently trading at $104,383. Bitcoin recently rebounded from the $101,000 support level, as previously indicated in analyses, and hit a new all-time high. If the uptrend continues, the resistance level stands at $105,766, while the support levels are at $103,668 and $101,000.

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Ethereum (ETH): The ETH/USDT pair has risen by 1.95% in the last 24 hours and is trading at $3,943. Key resistance levels for Ethereum are at $3,988 and $4,025, while the support levels are at $3,942 and $3,886.

MultiversX (EGLD): EGLD/USDT has dropped 5.54% in the last 24 hours and is trading at $44.5. Resistance levels are at $48 and $49.3, with support zones at $44.3 and, in case of deeper declines, $40.

Fantom (FTM): The FTM/USDT pair surged 9.49% in the last 24 hours and is trading at $1.36. Resistance levels are $1.46 and $1.60, while support levels are at $1.39 and $1.34 for lower zones.

Pyth Network (PYTH): PYTH/USDT gained 6.58% in the last 24 hours and is currently trading at $0.465. Resistance levels for PYTH are $0.475 and $0.50, while support lies at $0.45 and $0.433 if declines deepen.

Trending Coins

In the past 24 hours, the top trending coins include Hyperliquid (HYPE), Ondo (ONDO), and Virtuals Protocol (VIRTUAL). Among the top gainers are Moca Coin (MOCA), Fartcoin (FARTCOIN), and Virtuals Protocol (VIRTUAL). On the other hand, Metars Genesis (MRS), Galxe (GAL), and DeXe (DEXE) lead the losers’ list.

Bitcoin Liquidation Map

A look at Bitcoin’s 12-hour liquidation map reveals notable levels:

• Upper-side liquidation: $44.5 million at $107,292.
• Lower-side liquidation: $58.5 million at $104,106.

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The post The Latest on Bitcoin and Cryptocurrencies: December 16 appeared first on Coin Engineer.

Market Overview:

• Current Price: $0.4591
• Market Capitalization: $1,287,761,529
• Fully Diluted Valuation: $1,458,336,443
• 24-Hour Trading Volume: $279,985,607
• Circulating Supply: 2,803,634,835 FTM
• Total Supply: 3,175,000,000 FTM
• Max Supply: 3,175,000,000 FTM

With a market capitalization of around $1.29 billion and a 24-hour trading volume of almost $280 million, Fantom’s market is clearly rather busy. But the price activity over the previous week has been erratic; FTM trades within a band of $0.3592 to $0.465. These swings mirror the larger uncertainty and selling pressure that have dominated the market.

Price Performance and Historical Context

• 24h Range: $0.3951 – $0.4677
• 7d Range: $0.3592 – $0.465
• All-Time High: $3.46 (Oct 28, 2021) – down 86.7%
• All-Time Low: $0.001902 (Mar 13, 2020) – up 24042.9%

Currently priced much below its all-time high of $3.46, set in October 2021, Fantom Reflecting the trajectory of the wider market, the token has lost 86.7% of its value since then. Still, FTM shows a significant long-term increase since it is much above its all-time low of $0.001902 from March 2020.

Technical Indicators: A Bearish Outlook

• Overall Technical Rating: Strong Sell
• Buy Signals: 1
• Sell Signals: 8
• Neutral Indicators: 2

FTM’s technical indicators show a bleak picture, with a powerful sell signal taking center stage. At 45.12, the Relative Strength Index (RSI) is neutral, meaning FTM is neither overbought nor oversold. Other signals, such as the stochastic oscillator, MACD, and Williams %R, however, all point to a sell, implying that the bearish trend is probably going to keep on.

• Stochastic Oscillator (9,6): 32.047 – Sell
• Stochastic RSI (14): 33.02 – Sell
• MACD (12,26): -0.032 – Sell
• Williams %R: -72.103 – Sell
• CCI (14): -67.8308 – Sell
• ATR (14): 0.1258 – Less Volatility
• ROC: -48.439 – Sell
• Bull/Bear Power (13): -0.1715 – Sell
• Ultimate Oscillator: 53.055 – Buy

With just the Ultimate Oscillator offering a buy signal, the mix of these indicators suggests ongoing selling pressure on FTM. Though the overwhelming amount of sell signals does not port well for short-term price action, the average true range (ATR) shows lesser volatility, which would suggest a time of consolidation.

Moving Averages: A Confirmed Downtrend

• Overall Moving Averages Rating: Sell
• Buy Signals: 4
• Sell Signals: 8

The moving averages confirm even more the pessimistic attitude toward FTM. The basic moving average shows a buy, while the exponential moving average for MA10 points to a sell; the short-term moving averages (MA5 and MA10) are mixed. This mixed signal denotes some extremely short-term uncertainty.

• MA20: Both the simple and exponential moving averages for the MA20 are in sell territory, reflecting the ongoing downtrend.
• MA50 and MA200: The medium and long-term moving averages are firmly in the sell category, indicating that the overall trend for FTM remains bearish.

Conclusion: Bearish Sentiment Dominates

With so many sell signals from both technical indicators and moving averages, Fantom (FTM) is now under substantial selling pressure. According to the present market attitude, FTM might keep under constant downward pressure in the near future.

Given the indications of a negative perspective, traders should approach FTM carefully. Low volatility, as shown by the ATR, and strong sell signals point to FTM perhaps suffering more drops before any possible comeback.

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The Fantom Foundation announced that it has allocated 200 million native Fantom tokens (worth approximately $120 million) from its treasury to support the launch of a new, faster network called Sonic. This announcement was made on June 20 and stated that financial support would be provided for developers and companies that will transition to the Sonic network.

Use of Funds

The allocated funds will be used to find and secure the best partners to build and grow the Sonic network. These partners will include developers building applications directly on Fantom, those developing decentralized applications (DApps), and partners providing vital tools and services.

Primarily, strategic grants will be provided to applications that show a strong interest in using Sonic technology and are already in the Fantom ecosystem.

Sonic Foundation

This development follows the establishment of a new foundation created to facilitate the launch of the Sonic chain. Fantom’s Sonic Foundation will oversee Sonic’s governance, manage the network treasury, coordinate partnerships and develop the DApp ecosystem.

According to Fantom Foundation CEO Michael Kong and the Fantom development team, Sonic will have a new layer-1 solution and a built-in layer-2 solution that directly connects the EVM-compatible network to the Ethereum network. Thanks to this architecture, users of the Sonic network will have access to Ethereum’s extensive ecosystem of decentralized applications, liquidity providers, and communities.

Fantom’s Promotion History

This isn’t the first time the Fantom Foundation has provided incentives for a cause. In May, layer-1 blockchain Fantom promoted the idea of ​​“safer memecoins” by allocating $6.5 million worth of native FTM tokens to reward developers.

Additionally, in May 2023, a new Fantom Opera network team program called the “Gas Monetization Program” was launched to pay developers for the gas fees they generate from their users. The program promises to pay eligible developers 15% of the total gas fees their apps generate.

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According to a post by blockchain analysis platform Lookonchain, a crypto whale withdrew 2.96 million USDC from decentralized lending platform Aave. The whale then spent approximately 2.23 million USDC to purchase 2.82 million FTM at a price of $0.79 per unit.

TradingView data shows that the price of FTM has increased by 6.58% on a daily basis and reached $0.8215. Etherscan data shows that the whale has 3.71 million FTM in its wallet.

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Fantom Foundation Prepares Opera for Sonic Upgrade

The Fantom Foundation is preparing its blockchain, Opera, for the Sonic upgrade. The necessary 66% support for the upgrade has been reached. Opera is expected to reach a capacity of 2,000 complex transactions, 4,000 swaps, and 10,000 transfer transactions per second.

The post Fantom (FTM) Price Surges Following Whale Purchase appeared first on Coin Engineer.

Critics have pointed to Solana’s ongoing congestion as evidence of its shortcomings. However, Cronje contends that these performance issues are technical challenges resulting from the ecosystem’s exponential expansion, which has led to heightened demand for block space.

Recent data from Dune Analytics indicates a significant increase in transaction failures on Solana, particularly amidst heightened activity driven by the memecoin craze. Despite this, Cronje maintains that the network’s struggles are a consequence of its popularity, rather than inherent deficiencies.

Solana CEO Anatoly Yakovenko echoed this sentiment, acknowledging the frustration of addressing congestion bugs, which require extensive testing and updates to resolve. Despite recent setbacks, Yakovenko remains committed to overcoming these challenges.

The recent bout of transaction failures and network congestion has led to a backlash from Solana users, highlighting the importance of addressing these issues promptly. However, members of the crypto community, including Cronje, emphasize the need for patience and perspective, recognizing the underlying potential of blockchain technology amidst temporary setbacks.

Solana has faced previous instances of downtime, including a significant outage in early February 2024, which halted block progression for over five hours. Despite these challenges, Solana remains one of the leading cryptocurrencies by market capitalization, reflecting its enduring appeal despite recent price fluctuations.

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Over the past four weeks, Fantom’s FTM token has surged by more than 190%, marking an impressive rally. This surge is potentially attributed to anticipation surrounding the network’s forthcoming Sonic upgrade, anticipated to propel the ongoing bull run.

The recent testnet of the upgrade has showcased accelerated transaction processing speeds and quicker finality times.

Fantom, a layer 1 blockchain, has witnessed its native token FTM soar by over 190% in the span of four weeks, distinguishing itself as the top-performing non-meme cryptocurrency among the top 100 digital assets by market capitalization.

According to data compiled by CoinGecko, FTM’s price has catapulted from 40 cents to $1.16, reaching its highest point since April 2022. Concurrently, the token’s market capitalization has surged to $3.29 billion, positioning it as the 44th largest digital asset globally.

In contrast, Bitcoin (BTC), the leading cryptocurrency, has experienced a 28% rally over the same period, while Ethereum, the second-largest cryptocurrency, has gained nearly 20%. The broader market, represented by the CoinDesk 20 Index, has seen a 33% increase.

The impending Sonic upgrade, slated to bolster transaction processing speeds, appears to have spurred heightened interest from investors. Scheduled to replace the existing Opera mainnet in the upcoming spring season, Sonic’s testnet went live in October of the previous year.

During closed testnet sessions with simulated traffic, Sonic demonstrated a maximum theoretical throughput of 2,000 transactions per second (TPS) alongside a time to finality of 1.1 seconds. In comparison, the current Opera mainnet registers a throughput of just 3.2 transactions per second.

Beyond enhancing transaction speeds, the upgrade introduces the Fantom Virtual Machine (FVM), designed to significantly accelerate smart contract execution. By translating Ethereum Virtual Machine’s (EVM) code into its format, FVM facilitates seamless transition for developers. This backward compatibility allows popular Ethereum-based decentralized applications to seamlessly migrate to Fantom.

“Fantom Sonic unlocks new possibilities for the Fantom ecosystem, particularly in decentralized finance (DeFi) platforms, blockchain games, high-frequency applications, and the Internet of Things (IoT),” stated Reflexivity Research in a report released last month. The enhanced throughput and efficiency of Sonic enable smoother operation of DeFi platforms, richer gaming experiences, efficient handling of microtransactions, and secure IoT data exchanges.

Despite the anticipation surrounding the upgrade, investor interest in Fantom’s decentralized finance ecosystem is yet to witness a notable resurgence.

The post Fantom’s FTM Emerges as Top-Performing Non-Meme Token in Last 30 Days appeared first on Coin Engineer.

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Bitcoin (BTC), which suffered a sharp sell-off in recent days and fell to $38,500 levels, made a good reaction on the previous day and rose by about 5%. With this rise, the price managed to enter the current range structure again. The fact that the price ended its rise at the level of $42,000, which is the previous resistance level it could show, seems to indicate that it is not willing to go up.

If the price can break the $42,000 levels, we can watch a nice rise if the correction it makes also holds on to the lower support region of the range structure. The first region it wants to target seems to be the FVG (price gap) region drawn in blue. We are in an important area to be monitored.

Bitcoin and Cryptocurrencies: Latest Status – January 27

Bitcoin (BTC): The BTC/USDT pair has gained 3.61% in the last 24 hours and is trading at $41,598. The resistance levels for BTC are first $42,000, followed by $43,300. The support levels are $40,200 and below this region, $38,500.

Ethereum (ETH): The ETH/USDT pair has gained 2.24% in the last 24 hours and is trading at $2,262. The first resistance level for ETH is $2,400, followed by $2,600. The support levels are $2,100 and then $1,900.

Near Protocol (NEAR): The NEAR/USDT pair has gained 0.88% in the last 24 hours and is currently trading at $2.865. The resistance levels for NEAR are first $3.1, followed by $3.260. The support levels are $2.8 and then $2.5.

Altlayer (ALT): The ALT/USDT pair has gained 7.80% in the last 24 hours and is currently trading at $0.36212. The resistance levels for ALT are first $3.70, followed by $4. The support levels are first $3.465-3.48, followed by $3.12-3.14.

Fantom (FTM): The FTM/USDT pair has increased 6.45% in the last 24 hours. It is currently trading at $0.3653. The resistance levels are $0.38 and $0.42. The support levels are first $0.3570, followed by $0.33.

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