Sonic (S) attracted the attention of the crypto market by gaining 25 %in the last week. Rising to $ 0,5882 on a weekly basis, Token made an impressive 75 %impressive leap than this year’s lowest level. The growth and high stinging returns in Sonic’s ecosystem played a key role in this rise.
Sonic ecosystem is growing
The most important reason for the increase in Sonic’s price was growth in the ecosystem. According to Defi Llamam data, Sonic’s total locked value (TVL) at the beginning of this year, $ 27.5 million, now reached $ 400 million. This rapid increase increased the interest in the Dapps in the ecosystem and provided great gains in the value of assets.
In particular, Silo Finance, which operates on Sonic, increased its assets by 20 %in the last seven days and reached $ 133.7 million. Similarly, Avalon Labs’s assets increased to $ 124 million. Projects such as Shadow Exchange, Swapx and ICHI also contributed to the rise of Sonic ecosystem. These developments are a sign that Sonic will continue to attract more developer interest.
High stinging return and breast coin support
Another factor in the rise of Sonic was the high stinging return. The 5.98 %stinging return presented by Sonic left behind Ethereum’s 3.3 %and 2.55 %of Sui. This increased investors’ interest in Sonic and was positively reflected in the price of the token.
In addition, Sonic aims to be an important player in the field of breast coin. Within the scope of Breast Mania promotion, breast coins such as Goggles, Tinhatcat and Indi have reached a market value of exceeding $ 3 million. This trend can further increase Sonic’s future growth potential.
SONIC PRICE EXPLANATION: WHAT IS EXPERIENCE?
Technical analysis shows that Sonic’s price movement creates the Formation of the Reverse Shoulder-Baş (Inverse Head and Shoulders). This popular rise signal indicates that Sonic’s price may increase. The price may experience a short retreat up to $ 0.4325 and then continue the upward trend. If the price increases above $ 0,5878, the next target may be $ 0.8480. This means an increase of 96 %from the current price level. However, a decrease below $ 0.4325 may invalidate this rise expectation.
Sonic’s growth, high stinging returns and technical indicators show that this token can attract more investors in the coming period.
