Sonic SVM's price fell 12% in 24 hours despite a 23% rise in daily active users and increased on-chain transactions. However, total value locked (TVL) dropped by $4.47 million, indicating capital outflows and selling pressure. Spot market activity showed minor buying but not enough to counteract the selling momentum, suggesting further price declines could occur if selling continues. Investors should watch volume and TVL trends for signs of recovery or further weakness.

More News (S)

Sonic Labs halts token inflation, $S price jumps 18% amid leadership changes and strategy shift

Sonic Labs canceled its planned minting of nearly 48 million $S tokens, stopping annual token inflation that would have diluted holders. This decision came after significant leadership departures, including founder Andre Cronje, and a sharp price dec...

Protocol Fundamentals

Bullish

4 hours ago