Sonic cryptocurrency ranked as one of the top-performing crypto coins last week, climbing by 25%.
Sonic's Price Surge
This week, Sonic (S), formerly known as Fantom, reached a weekly high of $0.5882 on Thursday, marking the highest level since January 31 and 75% above its lowest point this year.
Sonic Ecosystem's Development
Sonic's ecosystem continues to perform well. According to DeFi Llama, the total value locked in the ecosystem surged to a record high of $400 million, up from $27.5 million at the start of the year. Many dApps, including Silo Finance, have seen significant increases in assets. Silo Finance, a lending protocol on Sonic, holds $133.7 million in assets, a 20% gain in the last seven days. Avalon Labs assets have also surged to $124 million, along with other top-performing assets like Shadow Exchange, SwapX, and ICHI.
Sonic Price Forecast
The two-hour chart shows that the S price bottomed at $0.310 earlier this month and has rebounded to $0.5500, moving slightly above the 50-period moving average. Signs of an inverse head and shoulders pattern indicate potential continued growth.
Sonic cryptocurrency shows steady growth due to the successful performance of its ecosystem, which could attract even more developer interest in the future.
