{"id":6383,"date":"2025-07-31T14:32:09","date_gmt":"2025-07-31T14:32:09","guid":{"rendered":"https:\/\/bitunikey.com\/news\/sonic-crypto-price-on-edge-as-network-its-a-120m-milestone\/"},"modified":"2025-07-31T14:32:13","modified_gmt":"2025-07-31T14:32:13","slug":"sonic-crypto-price-on-edge-as-network-its-a-120m-milestone","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/sonic-crypto-price-on-edge-as-network-its-a-120m-milestone\/","title":{"rendered":"Sonic crypto price on edge as network its a 120m milestone"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Sonic crypto price surged for the second consecutive day as the network\u2019s transactions reached the 120 million milestone.<\/p>\n<div id=\"cn-block-summary-block_363c3abd9aaae3e8727bd32ae778c85f\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Sonic price is on edge as its transactions hit the 120 million milestone.<\/li>\n<li>The stablecoin supply has plunged in the past few months.<\/li>\n<li>Its total value locked in the DeFi industry has also crashed.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Sonic (S) token soared to a high of $0.3555 on Thursday, up 25% from its lowest point this week. It then pared some of those gains and was trading at $0.3300 at press time.<\/p>\n<h2 class=\"wp-block-heading\">Sonic transactions hit 120m<\/h2>\n<p>Sonic jumped after the developers announced that the layer-1 network crossed 120 million transactions, just six months after its launch.<\/p>\n<p>While this is a notable milestone, there are signs that Sonic is losing momentum, which likely explains why its token pulled back after the initial surge.<\/p>\n<p>Nansen data shows that Sonic\u2019s transactions plunged 202% to 8.6 million in the last 30 days. At the same time, the number of active addresses on the network dropped 40% to 232,000. This slowdown occurred even as other chains like Arbitrum and Linea saw a surge in transactions.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>More data shows that the Sonic ecosystem is struggling. According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/sonic?stablecoinsMcap=true&amp;tvl=false\" target=\"_blank\">DeFi Llama<\/a>, the amount of stablecoin in its ecosystem fell to $209 million, the lowest level since March and well below the year-to-date high of $597 million.<\/p>\n<p>Sonic\u2019s total value locked has also been in a strong downtrend in recent months. After peaking at nearly $2 billion earlier this year, TVL has plunged to $1.2 billion.<\/p>\n<h2 class=\"wp-block-heading\">Sonic price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14401681\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">S price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily chart shows that the Sonic crypto price has traded sideways in recent days. It was trading at $0.30, a few points above the year-to-date low of $0.2490.<\/p>\n<p>The token has formed a descending triangle pattern, a popular bearish continuation signal. With transactions, DeFi assets, and stablecoin supply falling, there is a risk of a bearish breakdown. If this occurs, the initial target will be the all-time low of $0.2490. A move below that level would signal further downside.<\/p>\n<p>On the flip side, a move above the upper side of the descending channel would confirm a bullish breakout and point to more gains.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sonic crypto price surged for the second consecutive day as the network\u2019s transactions reached the 120 million milestone. Summary Sonic price is on edge as its transactions hit the 120&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6383"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6383\/revisions"}],"predecessor-version":[{"id":6384,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6383\/revisions\/6384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1954"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}