Architectural Concept Design Collection

  • CONTACT
  • MARKETCAP
  • BLOG
Finances Investing and Crypto News
  • BOOKMARKS
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Reading: Here’s why Sonic erased $1.3 billion in value
Share
  • bitcoinBitcoin(BTC)$105,727.66
  • ethereumEthereum(ETH)$2,505.99
  • tetherTether USDt(USDT)$1.00
  • rippleXRP(XRP)$2.26
  • binancecoinBNB(BNB)$652.72
  • solanaSolana(SOL)$152.86
  • usd-coinUSDC(USDC)$1.00
  • dogecoinDogecoin(DOGE)$0.184139
  • tronTRON(TRX)$0.281839
  • cardanoCardano(ADA)$0.67
Finances Investing and Crypto NewsFinances Investing and Crypto News
0
Font ResizerAa
  • Finance
  • Investment
  • Crypto
  • Market
  • News
Search
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Finances Investing and Crypto News > Blog > Market > Here’s why Sonic erased $1.3 billion in value
Market

Here’s why Sonic erased $1.3 billion in value

admin
Last updated: 09/06/2025 12:31 Sáng
admin
Published 09/06/2025
Share


Andre Cronje’s Sonic token is in freefall, having erased almost $1.3 billion in market capitalization since its relaunch in January.

Sonic (S) price crashed to $0.3775 on Sunday, down by over 61% from its highest point this year. This crash has brought its market capitalization to $1.9 billion, down from $3.15 billion in January.

Sonic token has plunged as its ecosystem continues slowing down. Data shows that the stablecoin market cap has plunged to $446 million, down from $597 million earlier this year. A falling stablecoin supply in a chain signals that activity in the network is fading. 

Further data shows that Sonic’s total value locked in its decentralized finance has plunged from nearly $2 billion in May to $1.53 billion. Most of this weakness was driven by outflows from AAVE, Sio Finance, Pendle, and MEV Capital, which have shed over 10% in assets in the last 30 days. 

This slowdown means Sonic is not making as much money as it did a few months ago. Its daily chain revenue dropped to $9,600 on Saturday from a record high of over $42,000 in May. 

Sonic token has also dropped as the funding rate across all exchanges has turned negative in the past few months.

Santiment data shows that the funding rate fell to 0.05% on Saturday, its lowest point in over a week. A falling funding rate signals that investors anticipate its future price to be lower than the spot one.

Sonic crypto price technical analysis

Sonic crypto price
S price chart | Source: crypto.news

The 12-hour chart shows that the S price has been in a free fall in the past few weeks. 

It plunged to a low of $0.3810, a key level that coincided with the lowest swing in April. This price was also the neckline of the double-top pattern at $0.6185.

A double-top is one of the most popular bearish signs in technical analysis.

The Sonic token has remained below the 50-period moving average, while oscillators point downwards. Therefore, it will likely continue falling as sellers target the support all-time low of $0.3151, its lowest point in February.

You Might Also Like

Meme coins, ETF hopes to send Solana to $500?

Shiba Inu pattern points to 190% surge asv burn rate rises

Flipping Uniswap, Flopping on Price: PancakeSwap Paradox

Here’s why UMA token price just surged

What is Wrapped stETH? Ethereum derivative explained

TAGGED:billionerasedHeresSonic

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article No foul play in Javier Milei’s Libra crypto promo, says anti-corruption office
Next Article Top cryptocurrencies to watch this week: Flare, Aptos, Pi Network
Leave a Comment

Để lại một bình luận Hủy

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *

Follow US

Find US on Socials
FacebookLike
- Advertisement -
Ad image
Popular News
Zhao dark pool DEX could sink HyperLiquid, says top trader
Emergency Funds: Importance and How to Build One
Debt Management: Strategies to Pay Off Debt Efficiently
Riot Platforms unloads 475 BTC in its biggest single-month Bitcoin sale to date
Revolut partners with Lightspark to add Bitcoin Lightning for UK and EEA users
- Advertisement -
Ad image

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Finances Investing and Crypto News

FICN.net brings you the latest in finance, investment, and crypto. Stay informed with expert insights, market analysis, and beginner guides. Whether you're new or experienced, FICN.net helps you explore opportunities, manage risks, and make smarter financial decisions in a fast-changing world.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Ad image
© 2024 Finance, Investment, and Crypto News. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?