Fix, Sonic SVM Listing! This is the Price Now

Bittime - Sonic SVM Token (SONIC), the newest Layer-2 solution for the Solana blockchain, officially launches. Now, SONIC is available for trading on several leading crypto exchanges. 

This decision is an important milestone for the Solana ecosystem, especially in the world of blockchain-based gaming. With this move, Sonic SVM aims to address the network congestion issues that often occur during on-chain game development, while paving the way for the future of gaming on Web3. 

But, what's interesting about SONIC's latest listing and how is the price movement? Read the full review!

Token Sonic SVM Resmi Listing

After an enthusiastic launch, Sonic SVM (SONIC) is now available on major exchanges, including Bybit, OKEx, Backpack, and Raydium. 

In less than a few hours after listing, the SONIC token managed to reach a fully diluted valuation (FDV) of around $2.3 billion (around IDR 37.1 trillion). This is a great achievement that shows high interest from investors and users.

At Bybit, SONIC is traded as a perpetual contract with the SONIC/USDT pair and offers up to 75x leverage, while OKEx and Raydium feature spot trading options for the token. 

Read also: What is Sonic SVM Token (SONIC): Its Tokenomics, Functions and Roadmap

Not only that, Upbit, the largest crypto exchange in South Korea, also plans to list SONIC trading pairs in KRW, BTC, and USDT. With this wide choice of exchanges, it is even easier for traders to buy and trade SONIC.

Latest SONIC Token Price Movements

Since listing, SONIC's price has experienced a significant jump. At the start of trading, this token was trading at around $0.98 (around IDR 15,800). 

In the first 24 hours, the token recorded a surge of more than 56% and was trading at $0.94 (around Rp. 15,100). 

Trading volume is no less astonishing, with figures reaching more than $1.8 billion (around IDR 28.9 trillion) in the last 24 hours.

Even though SONIC prices have experienced fluctuations, this spike shows market enthusiasm for the innovation brought by Sonic SVM. 

Read also: Official Information: Sonic Will List $S Token on 13 CEXs in January 2025

SONIC's price trading at this level reflects investors' confidence in the token's ability to overcome scalability challenges on the Solana blockchain, especially in the world of Web3-based gaming.

About Sonic SVM (SONIC)

Sonic SVM is the first Layer-2 solution launched on the Solana blockchain, designed to improve the scalability and performance of on-chain gaming applications. 

Using Sonic HyperGrid technology, Sonic SVM utilizes optimistic rollup to optimize transaction processes and reduce gas fees. 

This provides benefits for game and Web3 application developers who want to access the Solana ecosystem without being constrained by network capacity issues.

SONIC itself is the original utility token used in the Sonic SVM ecosystem. Some of the main uses of SONIC include:

1. Payment Currency: SONIC is used to purchase in-game assets within the Sonic SVM ecosystem.

2. Staking: Users can stake SONIC to support the network while earning rewards.

3. Governance: SONIC token holders have voting rights in important decisions related to the development and future of the network, both through $SONIC and $VeSONIC.

4. Validator Delegation: SONIC tokens are also used to support HyperGrid Shared State Network (HSSN) networks with delegation to trusted validators.

With token adoption and launches growing, Sonic SVM plans to become the premier solution for game developers looking to harness the potential of blockchain without scalability barriers.

FAQs About Sonic SVM

1. What is Sonic SVM?

Sonic SVM is the first Layer-2 solution built on the Solana blockchain, designed to improve the scalability of Web3-based applications and games, using optimistic rollup technology.

2. What is the use of the SONIC token?

SONIC tokens are used as payment currency in the Sonic SVM ecosystem, for staking, participation in governance, and for validator delegation.

3. What makes Sonic SVM different from other blockchain projects?

Sonic SVM differentiates itself by providing a better scalability solution on the Solana network, especially for gaming and Web3 applications, by addressing the issues of congestion and high transaction fees.

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Reference 

coinmarketcap, Sonic SVM Coinmarketcap, accessed January 8, 2025.

The Defiant, SONIC Token Launches on Multiple Exchanges, Reaches $2.3B FDV as Solana's Layer-2 Gaming Solution, accessed January 8, 2025.

Author: Y