Sonic (prev. FTM) PriceS

As of May 28, 2025, the cryptocurrency market is experiencing significant developments across various sectors, including corporate investments, regulatory changes, and market performance.

Corporate Investments in Bitcoin

The recent surge in Bitcoin's price, reaching a record high of $111,965, has prompted a wave of corporate activity. Companies are increasingly raising funds to acquire Bitcoin, inspired by Strategy's substantial holdings of 580,000 BTC. The number of publicly traded companies holding Bitcoin has risen from 89 to 113 since April, now collectively holding over 800,000 BTC. Notable initiatives include Donald Trump's media company aiming to raise $2.5 billion for Bitcoin acquisitions, and ventures led by Jack Mallers and Vivek Ramaswamy's Strive Asset Management. These moves are supported by favorable conditions such as reduced US-China tensions and lower market volatility. However, analysts caution that replicating Strategy's impact is challenging, with concerns about market saturation and limited capital absorption amid potential economic uncertainty.

Trump Administration's Crypto Initiatives

Under President Donald Trump's administration, there is an aggressive push into the cryptocurrency space. Key figures attended a major Bitcoin conference in Las Vegas, signaling strong governmental endorsement of digital assets. Trump Media & Technology Group announced plans to raise $2.5 billion to invest in Bitcoin, aiming to diversify revenue by expanding into financial services. The company intends to hold the acquired Bitcoin in its corporate treasury, with custody managed by Anchorage Digital and Crypto.com. CEO Devin Nunes emphasized that Bitcoin represents financial freedom and aligns with the company's "America First" principles. Despite the bold announcement, Trump Media's stock fell by up to 7% following the news.

Circle's IPO Plans

Circle Internet, the issuer of the USDC stablecoin, has announced plans for an initial public offering (IPO) on the New York Stock Exchange, targeting a valuation of up to $6.71 billion. The IPO aims to raise as much as $624 million through the sale of 24 million shares priced between $24 and $26 each. Circle itself will offer 9.6 million shares, while existing shareholders, including Accel and General Catalyst, will sell 14.4 million shares. Notably, ARK Investment Management, led by Cathie Wood, has expressed interest in purchasing up to $150 million in shares. Founded in 2013 and based in New York, Circle operates the USDC stablecoin, a cryptocurrency pegged to the U.S. dollar and currently holding over $60 billion in market capitalization. The IPO reflects renewed investor optimism in cryptocurrencies, supported by the U.S. administration's more favorable regulatory stance under President Donald Trump. This will be one of the largest crypto-related listings since Coinbase's 2021 IPO.

Market Performance

The cryptocurrency market has seen notable movements:

• Bitcoin (BTC): Currently priced at $108,788, experiencing a slight decrease of 0.89% from the previous close.

• Ethereum (ETH): Trading at $2,630.56, down 0.23%.

• BNB (BNB): At $682.79, with a minimal decrease of 0.05%.

• XRP (XRP): Priced at $2.30, down 0.86%.

• Cardano (ADA): Trading at $0.751054, experiencing a 2.16% decrease.

• Dogecoin (DOGE): At $0.222516, down 2.63%.

• Polkadot (DOT): Priced at $4.54, with a slight decrease of 0.44%.

• Litecoin (LTC): Trading at $95.78, down 0.06%.

• Chainlink (LINK): At $15.86, with a minimal decrease of 0.13%.

• Bitcoin Cash (BCH): Priced at $416.73, down 0.77%.

Regulatory Developments

The European Union's Markets in Crypto-Assets (MiCA) regulation, adopted on May 31, 2023, has been fully applicable since December 2024. MiCA aims to streamline the adoption of blockchain and distributed ledger technology within the EU while protecting users and investors. This comprehensive framework provides legal clarity for crypto-assets and related services, fostering innovation and ensuring consumer protection.

In Pakistan, the government established the Pakistan Crypto Council (PCC) in March 2025 to oversee and promote blockchain technology and digital assets within the country. As of May 2025, Pakistan has approximately 40 million cryptocurrency users, with an estimated annual crypto trading volume exceeding $300 billion. The PCC is led by Federal Finance Minister Muhammad Aurangzeb, with Bilal Bin Saqib serving as the Chief of the council. The council aims to develop regulations and integrate blockchain technology into Pakistan's financial landscape.

Market Outlook

Despite recent fluctuations, analysts remain optimistic about the cryptocurrency market's recovery. The establishment of a Strategic Bitcoin Reserve by the U.S. government is seen as a pivotal moment for crypto adoption, potentially reducing the risk of a federal ban and encouraging other nations to follow suit. Analysts suggest that institutional investors will take Bitcoin more seriously, with the Global Liquidity Index (GLI) playing a crucial role in the market's resurgence. The GLI's historical correlation with crypto market capitalization indicates that liquidity expansions often precede bullish trends. The U.S.'s move to create a Bitcoin reserve is expected to influence other countries and legitimize Bitcoin in the eyes of institutional investors.

In conclusion, the cryptocurrency market on May 28, 2025, is marked by significant corporate investments, regulatory advancements, and evolving market dynamics. While challenges persist, the overall outlook remains positive, with continued growth and adoption anticipated in the coming months.

Sonic, formerly known as Fantom (FTM), is an advanced Ethereum Virtual Machine (EVM) layer-1 platform designed to deliver high-speed transactions and robust infrastructure for decentralized applications (dApps). Launched in December 2024 as an upgrade from the Fantom network, Sonic aims to lead the EVM space by offering over 10,000 transactions per second (TPS) and sub-second finality, ensuring immediate and irreversible transactions.

Key Features of Sonic:

1. High Performance: Sonic's architecture supports more than 10,000 TPS with sub-second confirmation times, providing a seamless user experience and scalability for developers.

2. Fee Monetization (FeeM) Program: This innovative program allows developers to earn up to 90% of the fees generated by their applications, adapting the Web2 ad-revenue model to a decentralized framework. This incentivizes developers to create and maintain high-quality dApps.

3. Sonic Gateway: A native, secure bridge that connects Sonic to Ethereum, providing developers and users with seamless access to vast liquidity. The Gateway includes a unique fail-safe mechanism to ensure asset protection under all circumstances.

Tokenomics:

The native token of the Sonic network, denoted as $S, serves multiple functions, including governance, staking, and fee generation. At launch, Sonic's total supply was 3.175 billion $S, matching the supply of FTM at the time of the Sonic chain launch. The initial circulating supply was approximately 2.88 billion $S. The total supply is set to increase and be capped at 15% until 2031, with an annual inflation rate of 1.75% four years after the Sonic chain launch.

Rebranding and Token Swap:

In January 2025, the Fantom community approved a proposal to rebrand FTM to Sonic (S) and conduct a token swap at a 1:1 ratio. Bitget, a leading cryptocurrency exchange, supported this transition by suspending FTM deposits and withdrawals on January 13, 2025, and opening S trading on January 16, 2025. The distribution of S tokens was conducted at a ratio of 1 old FTM = 1 new S.

Market Performance:

As of May 28, 2025, Sonic (S) is trading at $0.50 per token, with a market capitalization of approximately $1.44 billion. The 24-hour trading volume stands at $131.26 million. The all-time high for Sonic was $1.03.

Developer Support and Ecosystem Growth:

Sonic's FeeM program and high-performance infrastructure have attracted a growing number of developers and projects. By the first quarter of 2025, Sonic is set to feature over 100 applications, positioning itself as a leading platform for the next generation of decentralized applications.

Conclusion:

Sonic's transition from Fantom represents a strategic initiative to enhance the platform's performance, developer incentives, and ecosystem growth. With its high transaction throughput, innovative FeeM program, and secure bridging infrastructure, Sonic is well-positioned to lead the EVM space and support the development of advanced decentralized applications.