Altcoins News
By Julie Binoche
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Sonic (S) has captured investor attention with a sharp 24% rally over the past month, including a 1.20% gain in the last 24 hours.
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A growing number of market participants are engaging with the Sonic blockchain, and recent metrics point to increasing adoption.
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Sonic's performance on decentralized exchanges (DEXs) reinforces this view. Weekly trading volume on DEXs jumped by 26%, reaching $788 million.
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Liquidity inflows into the Sonic network have also increased notably. Data from Artemis shows that Sonic recorded the highest Bridged Netflow among all tracked chains, with $37.
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Despite these bullish fundamentals, sentiment among experienced traders tells a different story.
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This skepticism is further supported by derivatives market metrics. The Open Interest Weighted Funding Rate—a metric that combines funding rates with the size of open…
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The divergence between bullish on-chain data and bearish derivatives sentiment creates a unique setup for Sonic.
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This split raises important considerations for investors. If the bullish fundamentals continue—particularly the rise in network activity and capital inflow—the rally could extend…
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For now, Sonic appears to be at a pivotal moment. The next few trading sessions may determine whether this asset breaks higher on the back of growing demand or retraces due to…
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