Sonic (Fantom) news

BeInCrypto highlights Sonic, THORChain, and Sky Network as altcoins to watch for early November 2025, citing upcoming network upgrades or governance decisions that could influence their prices. Sonic’s v2.1.2 upgrade adds fee subsidies and security fixes; with RSI oversold and support near $0.128, the price could rebound to $0.159–$0.176, but a break below could fall to $0.112. THORChain’s V3.12 upgrade may boost liquidity; RUNE at $0.809 with converging Bollinger Bands could break $0.855 toward $0.951, while a fall below $0.765 would confirm weakness. Sky Network’s vote to raise buybacks to 300k USDS and transfer 500m SKY to treasury could lift the token from $0.0545 to $0.0575, or drop below $0.0536 if muted.

Sonic Labs announced new CEO Mitchell Demeter, moving former CEO Michael Kong to CIO, a shake‑up expected to drive adoption and institutional ties as the network rebrands from the Fantom Foundation. The change sent the S token up ~4% to $0.2418. The week also sees Falcon Finance opening wallet registration for its FF token, with claims starting Sep 28 and expiring Dec 28. Ethereum’s Fusaka Upgrade will test its first phase on Holesky Oct 1, followed by Sepolia and Hoodi, aiming to boost scalability. EtherFi plans an analyst call on Oct 1 featuring BitMEX founder Arthur Hayes, potentially spurring interest in ETHFI. Meanwhile, FTX will distribute $1.6 bn to creditors on Sep 30, lifting FTT to $0.9628.

The cryptocurrency market is set to experience significant token disbursements totaling approximately $513 million during the second week of September 2025, raising concerns about induced volatility. On September 13, the GameFi platform Cheelee will unlock 20.81 million CHEEL, a 2.08% increase to its total supply, valued at roughly $55.8 million, with allocations for rewards, marketing, liquidity, and community drops. Aptos will release 11.31 million APT on September 11, representing 0.96% of its total supply and about $49.4 million, with allocations to core contributors, community, investors, and its foundation. On September 9, the next‑generation DeFi platform Sonic will issue 150 million S tokens, a 4.6% increase to its supply valued at $46.5 million, supporting its U.S. expansion. Additional unlocks from projects such as Movement, BounceBit, io.net, and peaq are scheduled for the same week, potentially amplifying market‑wide effects across the crypto ecosystem.

Sonic Labs has invested $40 million in SonicStrategy (SPTZ) via a six‑month zero‑coupon convertible note in S tokens. The note converts to shares at $4.50 if the company uplists from the Canadian Securities Exchange to Nasdaq (or similar) and raises ≥$40 million, with shares locked for three years and tokens for four. The capital will fund treasury, validator ops and blockchain investments. Sonic Labs sees SonicStrategy as a bridge to institutional finance and will close the deal within five business days under CSE rules.

Sonic, the rebranded Fantom blockchain, got community approval for a $150 million token issuance to fuel a U.S. expansion that includes a $50 million ETF initiative, $100 million investment program and a Delaware‑registered company. The vote passed with 99.99% of participants – 860.6 million in favor versus 51,200 against. The new issuance replaces the 2018 tokenomics that left the foundation with only 3% of tokens. It will fund listings, acquisitions, and partnerships, and support a regulated ETF provider with >$10 billion AUM and custody by BitGo. A PIPE vehicle will seed a Nasdaq‑listed entity with locked tokens, and the tokenomics will be revised to burn more tokens and curb inflation.

Sonic Labs has obtained approval to issue $200 million of its S tokens into U.S. capital markets, enabling a proposed ETF and Nasdaq‑listed PIPE vehicle. The proposal received 99.99 % approval from 105 wallets, meeting a quorum of 700 million tokens; $100 million will reserve for the PIPE, $50 million will fund a regulated ETP custodied by BitGo, and some tokens will bankroll Sonic USA LLC and a U.S. team. Rebranded from Fantom Opera, the project has struggled because its tokenomics left less than 3 % for strategic use, forcing market purchases. Sonic aims to deflate the S token by tightening its gas‑fee system and burning more transaction fees, after the token slid almost 69 % since launch. The company also participates in the U.S. Commerce Department’s blockchain program, integrating Chainlink and Pyth oracles to embed macroeconomic data on‑chain.

During this week, U.S. lawmakers will debate key crypto bills, creating expectations of heightened volatility in the digital‑asset markets. Sonic plans an airdrop from July 15‑22 that could lift its price to about $0.381–$0.440, though selling pressure could bring it back to $0.329 or lower. Mantle rose 7.2 % to $0.70 as the Sepolia upgrade on July 16 is set to add full support for the Ethereum Prague changes, pushing the coin toward $0.72. Official Trump's 90 million-token unlock this week may push prices to a $9.63 support level and potentially up to $10.97, but excess supply could drop it to $9.04 or $8.43, erasing prior gains. Analysts advise watching these coins closely as regulatory moves and token events could shape short‑term price swings.

Coinbase completed its Q2 2025 token rollout by adding Newton Protocol’s NEWT, the Layer‑1 Sonic (S), Subsquid (SQD), and POPCAT to its exchange, with SQD and POPCAT now available exclusively for EU users following the platform’s MiCA licence acquisition. NEWT, launched with an airdrop on Binance Alpha, was listed on Coinbase the same day under an Experimental label, allowing users to buy, sell, convert and store the token via the mobile app. The new listings produced mixed market reactions: most tokens showed muted price moves because they were already tradable elsewhere, while Sonic experienced a notable rebound after its listing after a recent airdrop‑driven pullback. Subsquid’s reference to an open database network for AI agents gains a distribution boost in the EU, and the overall move signals Coinbase’s ongoing strategy of diversifying its asset portfolio. No new strategic shifts are expected for Q3, aside from a scheduled systems upgrade, and the exchange has not announced additional feature rollouts.

Cryptocurrency airdrop activity surged this week as Spark (SPK), Sonic (S), and LayerEdge (EDGEN) launched new distribution campaigns. SPK, recently deployed on Ethereum, offers on‑chain asset allocation tools and traders note a support level near $0.056, with a potential rise to $0.066 if staking and governance activate. Sonic, the rebranded Fantom layer‑1, is sending over 190 million S tokens in an $82 million airdrop that locks 75 % in NFT vesting for 270 days, and its price sits close to a $0.312 support, with upside toward $0.50. LayerEdge’s EDGEN, built on Bitcoin and zero‑knowledge proofs, has dropped 25 % this week, threatening support around $0.095 but could rebound to roughly $0.012 if sentiment improves. The tokens’ movements illustrate how airdrop structure, ecosystem growth, and user participation influence short‑term price dynamics.

Sonic's native token S fell sharply after Wintermute ended a five‑year market‑making partnership, with the firm selling roughly 1.5 million S tokens within 24 hours of the announcement, following a prior batch that cost about $857,000. In the same window, a FalconX‑linked wallet transferred 2.3 million of its 3 million S tokens to Binance, fueling speculation of coordinated exits or liquidity reshuffling. Sonic’s Head of Strategy said the platform is negotiating new market‑making partners that align with a shift toward DeFi integrations. Analysts noted the large sales were executed at a loss, suggesting no immediate profit‑taking or price manipulation. The cumulative sell‑offs have pushed the token down more than 8 % in a single day to around $0.50 and approximately 15 % over the past week.