• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Why Fantom (FTM) Became Sonic (S) and Its Impact on Cryptocurrency

user avatar

by Giorgi Kostiuk

3 months ago


In the first half of January, the Fantom (now Sonic) price dropped by 12%, indicating bearish sentiments. However, the recent rebranding has led to a surge in social sentiment, suggesting potential growth.

Reasons for Fantom's Rebranding to Sonic

Fantom has rebranded to Sonic to shift its market position. The aim is to enhance community involvement and introduce new features, potentially increasing the token's usage and demand.

FTM Price Shows Volatility

The Fantom (now Sonic) price maintained above $0.70 with a daily trading volume of $7.556 million. With a market capitalization of $2.052 billion, it holds the 56th position. The rebranding to Sonic Chain has allowed the project to surpass $100 million in Total Value Locked (TVL), highlighting its success in a competitive blockchain environment.

Sonic Technical Sentiments

The Simple Moving Average (SMA) on the daily chart indicates a potential bullish trend for the altcoin. The RSI indicator also shows a steady rise toward the midpoint, suggesting continued momentum gain for the Sonic token.

If the crypto market remains favorable, Sonic's price could surpass $0.80, setting the stage to reach $1. Conversely, negative trends could see the price retesting $0.70 and further slipping to $0.65.

0

Share

Other news

Institutional Inflows Boost Bitcoin Recovery

Institutional investments drive Bitcoin's recovery: Resistance at $88K before the $150K target.

user avatarGiorgi Kostiuk

3 minutes ago

Major $90 Million BTC Transfer from Binance Spurs Bullish Market Speculations

As Bitcoin hits $87,892, a large $90 million transfer from Binance prompts bullish market speculations.

user avatarGiorgi Kostiuk

4 minutes ago

Crypto Market Under Pressure from Trump's New Tariffs

Trump's new tariffs caused a brief crypto market drop, but investors see opportunities in policy clarity.

user avatarGiorgi Kostiuk

4 minutes ago

Technical Issues Lead to Pi Network's Exclusion from Binance

Binance excluded Pi Network from 'Vote to List' due to technical issues.

user avatarGiorgi Kostiuk

5 minutes ago

New Grayscale ETFs Aim for Income from Bitcoin Volatility

Grayscale introduces Bitcoin Covered Call ETF and Bitcoin Premium Income ETF, focusing on income strategies tied to Bitcoin volatility.

user avatarGiorgi Kostiuk

5 minutes ago

Innovative Bitcoin ETFs by Grayscale: Steady Income for Investors

Grayscale launches Bitcoin Covered Call and Bitcoin Premium Income ETFs for generating stable income by adapting to market volatility.

user avatarGiorgi Kostiuk

16 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.