Sonic's cryptocurrency price saw a significant rise last week, fueled by its success in the DeFi sector. Impressive metrics and active development make Sonic a key player in the market.
Reasons Behind Sonic's Price Surge
Sonic, formerly known as Fantom, soared to $0.99, marking a 200% increase from its lowest level. This surge is driven by the growing number of developers, enhancing its presence in the DeFi industry.
Blockchain and DeFi Metrics
According to DeFi Llama, Sonic has attracted nearly 80 developers over the past two months. The total value locked in the network reached $676 million, making it the 13th largest blockchain by this metric. Sonic surpassed Cardano and Cronos in stablecoin holdings.
Sonic Price Forecast
The four-hour chart suggests a potential further increase in Sonic's price. The 'cup and handle' pattern indicates a possible rise to $1.30, representing another 50% increase.
Exciting prospects lie ahead for Sonic. Its impressive growth and strong DeFi development make it one of the most talked-about cryptocurrencies in the market.
