Sonic Price Explodes 66% in Two Weeks – Is This the Next Solana?
The Sonic price has jumped by 10% today, with its rise to $0.7666 also representing an impressive 36% gain in a week and 66% return in a fortnight.
These percentages come as the crypto market as a whole loses 0.5% in the past 24 hours, with S rallying amid exponential growth for its native layer-one platform.
Sonic’s total value locked has exploded from $27 million on January 1 to $611 million today, following Sonic’s rebranding from Fantom in early December.
And with developers flocking to Sonic, it could continue experiencing strong growth for much of 2025.
Sonic Price Explodes 66% in Two Weeks – Is This the Next Solana?
Looking at S’s chart, it has continued to experience surges in momentum repeatedly over the past few weeks.
After its RSI (purple) touched 80 on February 17 it declined to 50 a day later, but it has since surged back up to 80 and remains high.
We also see S’s 30-period average (orange) climbing aggressively above the 200-period average (blue), another sign of bullish growth.
In fact, S appears to have entered price discovery mode, with the market waking up to the fact that it promises a serious alternative to other layer-one networks, such as Ethereum and Solana.
As a layer-one blockchain, Sonic advertises throughput of 10,000 transactions per second, with Ethereum and Solana currently at around 16 and 850 tps (and with theoretical maxes of 119 and 65,000 tps).
Sonic is also proving increasingly popular with developers, with some suggesting that its ecosystem is currently more supportive than what they may find elsewhere.
Based on its potential, we could see the Sonic price rise back to $1 in the next few weeks, topping at around $1.25 by H2.
Alternative Alts for Market-Beating Gains
As strong as S is right now, it may run out of steam relatively soon, given that it continues to enter overbought territory.
Given this possibility, traders may opt to see alternatives already, with several newer tokens looking very promising at the moment.
One of these is Solaxy (SOLX), which has now raised $22.5 million in its increasingly popular presale.
Termina powering the Solaxy rollup!
— SOLAXY (@SOLAXYTOKEN) February 18, 2025https://t.co/9bEf8VxNy6
And what’s bullish about Solaxy is that it’s preparing to launch Solana’s first layer-two network.
As an L2, its platform will help Solana users avoid failed transactions, outages and congestion, which continue to affect the layer-one network during periods of peak traffic.
It will also enable instant bridging between itself and Solana, with its protocol adding compatibility with other networks over time.
And because it will pay for Solaxy’s transactions fees, it could experience considerable demand, especially if Solaxy attracts serious adoption.
Interested investors can join its sale by going to its official website, where SOLX currently sells at $0.00164.
The post Sonic Price Explodes 66% in Two Weeks – Is This the Next Solana? appeared first on Cryptonews.
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Sonic Price Explodes 66% in Two Weeks – Is This the Next Solana?
The Sonic price has jumped by 10% today, with its rise to $0.7666 also representing an impressive 36% gain in a week and 66% return in a fortnight.
These percentages come as the crypto market as a whole loses 0.5% in the past 24 hours, with S rallying amid exponential growth for its native layer-one platform.
Sonic’s total value locked has exploded from $27 million on January 1 to $611 million today, following Sonic’s rebranding from Fantom in early December.
And with developers flocking to Sonic, it could continue experiencing strong growth for much of 2025.
Sonic Price Explodes 66% in Two Weeks – Is This the Next Solana?
Looking at S’s chart, it has continued to experience surges in momentum repeatedly over the past few weeks.
After its RSI (purple) touched 80 on February 17 it declined to 50 a day later, but it has since surged back up to 80 and remains high.
We also see S’s 30-period average (orange) climbing aggressively above the 200-period average (blue), another sign of bullish growth.
In fact, S appears to have entered price discovery mode, with the market waking up to the fact that it promises a serious alternative to other layer-one networks, such as Ethereum and Solana.
As a layer-one blockchain, Sonic advertises throughput of 10,000 transactions per second, with Ethereum and Solana currently at around 16 and 850 tps (and with theoretical maxes of 119 and 65,000 tps).
Sonic is also proving increasingly popular with developers, with some suggesting that its ecosystem is currently more supportive than what they may find elsewhere.
Based on its potential, we could see the Sonic price rise back to $1 in the next few weeks, topping at around $1.25 by H2.
Alternative Alts for Market-Beating Gains
As strong as S is right now, it may run out of steam relatively soon, given that it continues to enter overbought territory.
Given this possibility, traders may opt to see alternatives already, with several newer tokens looking very promising at the moment.
One of these is Solaxy (SOLX), which has now raised $22.5 million in its increasingly popular presale.
Termina powering the Solaxy rollup!
— SOLAXY (@SOLAXYTOKEN) February 18, 2025
And what’s bullish about Solaxy is that it’s preparing to launch Solana’s first layer-two network.
As an L2, its platform will help Solana users avoid failed transactions, outages and congestion, which continue to affect the layer-one network during periods of peak traffic.
It will also enable instant bridging between itself and Solana, with its protocol adding compatibility with other networks over time.
And because it will pay for Solaxy’s transactions fees, it could experience considerable demand, especially if Solaxy attracts serious adoption.
Interested investors can join its sale by going to its official website, where SOLX currently sells at $0.00164.
The post Sonic Price Explodes 66% in Two Weeks – Is This the Next Solana? appeared first on Cryptonews.
Read More
Will Pi Network Survive This Unlock? Token Nears All-Time Low as Supply Flood Looms