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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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 continues to face a tough battle between the bulls and bears at the $100,000 level. CryptoQuant contributor Percival mentioned in a Quicktake blog post on December 6 that Bitcoin’s weekly strength is weakening and it may enter a period of consolidation over time.

Short-term uncertainty and volatile price action have not changed analysts’ long-term bullish outlook on Bitcoin. WeRate co-founder Quinten François said in a post on X that Bitcoin is “entering the euphoria stage,” which could extend the rally for a maximum of 12 more months before a cycle peak is formed.

In addition to Bitcoin, Donald Trump‘s U.S. presidential victory has boosted the price of several altcoins. However, Hartmann Capital managing partner Felix Hartmann noted in a post on X that venture capitalists and teams may aggressively book profits in altcoins, which could result in a sharp downturn.

Bitcoin Price Analysis

Bitcoin is facing resistance at the psychologically significant $100,000 level, but the bulls are not rushing to exit the market.

Bitcoin’s tight consolidation near the $100,000 level increases the likelihood of an upside breakout. If buyers can push the price above $104,088, bullish momentum could strengthen, and the BTC/USDT pair may rise to $113,331 and then to $125,000.

The 20-day moving average ($95,285) should be watched as a crucial support level in the short term. If this level is broken, it would suggest that the bulls are quickly moving to book profits. The pair could then drop to $90,000 and subsequently to the 50-day simple moving average at $84,110.

BTC/USDT 4 Hours Chart

The pair is trading above the moving averages, giving the bulls a slight edge. However, the upward move is expected to face strong resistance in the $101,900 to $104,088 range. A break above this level could initiate a rise in the pair to $113,331.

Conversely, a drop and close below the moving averages could lead short-term bulls to take profits. This could pull the price down to $90,000, where buyers are likely to step in.

If the price rebounds from the $90,000 level and moves above the moving averages, it could indicate the formation of a consolidation range. The pair may trade between $90,000 and $104,088 for some time.

DOGE Price Analysis

Dogecoin is gaining value within an ascending channel pattern, indicating that buyers have the upper hand.

The bulls tried to push the price above the upper resistance at $0.48, but the bears resisted. If the price moves up from the current level or the 20-day EMA ($0.41), the bulls will attempt to push the DOGE/USDT pair toward the channel’s resistance line again.

The bears are expected to defend this resistance line with all their strength, as breaking above it could send the pair soaring to $0.60. If the bears want to prevent the rise, they will need to pull the price below the channel’s support line. In that case, the pair could drop to the 50-day SMA ($0.30).

DOGE/USDT 4 Hour Chart

The pair is finding support at the 20-EMA, indicating positive sentiment. The bulls will attempt to break through the upper resistance at $0.48 again. If successful, the pair could rise to the channel’s resistance line.

If the price turns down sharply from the resistance line and drops below the 20-EMA, it would suggest that the pair may remain within the channel for some time.

On the other hand, a break and close above the resistance line would signal the start of the next leg of the uptrend toward $0.60.

SUI Price Analysis

SUI is facing resistance around $4.50, but the bulls have not given much ground to the bears. This suggests that buyers are expecting the upward movement to continue.

The SUI/USDT pair could drop to $3.94 and then to the 20-day EMA ($3.66). If the price rebounds from the 20-day EMA, the bulls will attempt to break the major resistance at $4.50. If successful, the pair could move into the next uptrend and rise to $5.31.

A minor concern is the developing negative divergence on the RSI. If the price falls below the 20-day EMA, it would indicate that the bulls are booking profits. This could lead to the pair pulling back to the 50-day SMA ($2.93).

SUI/USDT 4 Hour Chart

If the bulls fail to push the price above $4.50, a pullback to $4 may be initiated. This is an important support level to watch, as a strong bounce from here would increase the likelihood of a rally above $4.50.

On the other hand, a drop and close below $4 could indicate that the bears are trying to take control. In this case, the pair might slide to the 50-SMA level. If this support is also broken, the pair could decline further to $3.

PEPE Price Analysis

PEPE has reached the overhead resistance level at $0.000027, where bulls and bears are likely to battle for dominance.

The 20-day EMA ($0.000021) is sloping upwards, and the RSI is in the overbought zone, giving an advantage to buyers. If the bulls manage to hold the price above $0.000027, the PEPE/USDT pair could rise to $0.000035 and then to $0.000044.

On the other hand, if the price turns down from $0.000027, it will indicate that the bears are defending this level strongly. The pair could then drop to the 20-day EMA. For the sellers to gain the upper hand, they would need to pull the price below the 20-day EMA.

PEPE/USDT 4 Hour Chart

The bears pulled the price below $0.000024, but the bulls bought the dip to the 20-EMA. Now, the bulls are trying to push the price back above $0.000027. If they succeed, the pair could rise to $0.000035.

Time is running out for the bears. If they want to make a comeback, they need to quickly pull the price below the moving averages. In that case, the pair could slide to the strong support near $0.000017.

FTM Price Analysis

FTM broke above the $1.23 overhead resistance on December 2, and the bulls prevented the bears from pulling the price back below the breakout level. This indicates strong buying on dips.

The rising 20-day EMA ($1.09) and the RSI in the overbought zone indicate that buyers have the upper hand. The bulls will try to push the price to $1.68, which is likely to act as strong resistance. However, if buyers can drive the price above $1.68, the rally could extend to $2.

The key support level to watch on the downside is $1.23. A drop and close below this support would suggest that the bullish momentum is weakening. In that case, the FTM/USDT pair could pull back to the 20-day EMA.

FTM/USDT 4 Hour Chart

The pair has bounced off the 20-EMA, indicating strong buying on every minor dip. If buyers can push the price above $1.39, the pair could continue its uptrend toward the next target at $1.68.

On the other hand, if the price reverses sharply from $1.39 and drops below the 20-EMA, it will show that the bears are active at higher levels. The pair may then slide to the 50-SMA. A drop below the 50-SMA could shift the short-term advantage in favor of the bears.

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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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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.

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Fantom Foundation oversees developments on the Fantom blockchain, but the recent attack caused losses for both FTM and Ethereum. Individuals conducting research discovered that the attacker moved the stolen assets from a wallet holding 4500 Ethereum to another wallet.

The company stated that attackers targeted only a small portion of their wallets and that the total loss amounted to approximately $550,000. Detailed research on the subject is ongoing at the moment.

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Reports stating that thieves attacked the hot wallets purportedly belonging to the Fantom Foundation, containing FTM, and stole a substantial amount of FTM, led to a significant drop in the value of the FTM altcoin.

We are carefully following the developments regarding the attack. The community is waiting for future updates to learn the measures taken by companies and the real dimensions of the incident.

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