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Apr 04 2025
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Sonic, the blockchain network formerly recognized as Fantom, has achieved a significant breakthrough as its total value locked (TVL) surpasses the $1 billion mark. This milestone marks a steady upward trajectory since the network’s mainnet launch, positioning Sonic as the 12th largest blockchain in terms of TVL. With $1.04 billion currently locked in its ecosystem, Sonic is edging closer to Aptos, which holds $1.07 billion in TVL.
Steady Growth and Expanding User Base
Sonic’s TVL has seen a 6% increase over the past week, reflecting a sustained period of growth. Alongside this financial expansion, the network’s daily active users (DAU) are nearing record highs. Over the last seven days, Sonic has averaged 57,000 DAU—its second-highest level to date. The only time Sonic recorded higher user activity was in mid-December when it reached an average of 67,000 DAU, largely driven by Daniele Sesta’s HeyAnon project.
Incentive Program Boosts Engagement
A key driver behind Sonic’s continuous expansion is its incentive program. The network has allocated more than 190 million S tokens, equivalent to $95 million, for an airdrop aimed at rewarding both users and developers. Participants can earn Sonic points, which determine their eligibility for the airdrop, by engaging in DeFi activities or holding assets within the Sonic ecosystem.
This incentive initiative has fueled increased participation and engagement, making Sonic one of the most active Layer 1 blockchains at the moment. By strategically distributing rewards, Sonic has created an ecosystem that encourages both developers and users to contribute to the platform’s growth.
Market Performance Amid Broader Downtrend
Despite Sonic’s rising TVL and growing user base, its native token has struggled in recent weeks. The overall downturn in the altcoin market has impacted Sonic’s price, leading to a 26% decline over the last 30 days. However, the sustained increase in network activity suggests a strong foundation for future recovery, particularly as the incentives program continues to attract new participants.
Sonic’s Position in the Blockchain Landscape
Sonic’s performance places it among the top-performing Layer 1 networks, outperforming many competitors in terms of TVL growth. As blockchain ecosystems continue to evolve, Sonic’s ability to maintain high engagement levels and expand its financial ecosystem highlights its potential for long-term success.
Looking ahead, market conditions and investor sentiment will play crucial roles in determining whether Sonic can sustain its current momentum. However, with a robust incentive program, increasing user activity, and a steadily climbing TVL, Sonic appears well-positioned to compete with the leading Layer 1 networks in the DeFi space.
As Sonic continues to make waves in the blockchain sector, the coming months will be critical in determining whether it can maintain its upward trajectory amid a volatile market landscape.
This is a non-financial/medical advice and made using AI so could be wrong.
