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Sonic Blockchain hits $253M TVL after rebranding

Sonic Blockchain hits $253M TVL after rebranding

GrafaGrafa2025/01/29 08:40
By:Isaac Francis

The Sonic blockchain has seen a significant increase in its total value locked (TVL), reaching over $253 million, following its recent rebranding from Fantom (CRYPTO:FTM).

This milestone reflects a 66% growth from $153 million recorded just two weeks prior, according to data from DefiLlama.

The surge in TVL can be attributed to heightened investor interest post-rebranding, which took place on January 16.

However, despite this impressive growth in TVL, the Sonic (CRYPTO:SONIC) token has experienced a decline of over 41% in January, trading at $0.43 as of the latest data from CoinMarketCap.

Sonic claims to be the fastest Ethereum Virtual Machine (EVM) chain, boasting a transaction finality of just 720 milliseconds.

This finality indicates the time taken for a transaction to become irreversible once added to the blockchain ledger.

Andre Cronje, the chief technology officer of Sonic Labs, emphasised that if this performance can be replicated on the mainnet, Sonic could potentially outpace competitors like Solana (CRYPTO:SOL).

Currently, Sonic's mainnet achieves sub-second transaction finality and block times of approximately 0.98 seconds.

In comparison, Solana's average finality time is around 12.8 seconds, although it has a faster block production rate of 0.4 seconds.

The rebranding and technological advancements have attracted considerable attention within the crypto community.

However, challenges persist as the decline in the S token’s value raises questions about market stability and investor confidence.

As Sonic continues to develop its infrastructure and user engagement strategies, its ability to maintain rapid finality on a broader scale will be crucial for its long-term success.

The performance and adoption of Sonic will be closely monitored as it strives to redefine speed and efficiency benchmarks in decentralised finance.

At the time of reporting, the Sonic (SONIC) price was $0.03877.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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