Key Notes
- S token price soared a more than 11% in the past day but still faces resistance at the $1 price level.
- Andre Cronje unveiled that the L1 blockchain will focus on onboarding more users in 2025.
- The blockchain will also focus on making its developers a lot of money using fee monitization.
Sonic S $0.89 24h volatility: 5.5% Market cap: $2.80 B Vol. 24h: $669.82 M , previously known as Fantom [NC], has shot up more than 11% in the past 24 hours, claiming a daily high of $0.9891, facing resistance at the $1 price tag. The cryptocurrency has soared a whopping 62.35% in the past week alone and is just 13% off from its all-time high of $1.03, seen over two months ago, trading at $0.8867 at press time, shows CoinMarketCap data .
Sonic completed its transition from Fantom in January with several exchanges supporting the debut of the S token. Meanwhile, Andre Cronje, the person responsible for the rebranding of the Fantom (FTM) blockchain into Sonic (S), shared his bullish vision regarding the rapidly growing layer one blockchain networks in a post on X (formerly Twitter).
Sonic vision this year is pretty simple;
– Fee Monetization (90% gas fees go to apps instead of validators mev)
– Fee Subsidies (remove onboarding gas friction for users)
– Dynamic Fees (apps can set their user pricing)
– Native economic and account abstraction (no wallets or…— Andre Cronje (@AndreCronjeTech) February 21, 2025
Sonic Vision 2025
Cronje said that Sonic’s vision for 2025 is “pretty simple,” adding that unlike traditional blockchains where validators and MEV actors capture most gas fees, 90% of gas fees on Sonic will go directly to dApps, creating a powerful revenue model for developers. Also, the network will seek to eliminate gas fees for users during onboarding, removing a major friction point for adoption.
The crypto entrepreneur further revealed that developers will soon be able to customize how users pay fees, allowing for flexible monetization strategies. Sonic will also remove the need for traditional wallets and gas, making the experience seamless for new users. Cronje said that the goal is to make it easier than ever for users to try out new apps on the layer one blockchain, while making “app devs a ton of money.”
Meanwhile, the total value locked (TVL) of the Sonic blockchain has shot up massively in recent days, currently standing at $707 million, shows DefiLlama data . While the TVL surged 16% in the past day, the blockchain network began the year with a TVL of just $27 million.
S Token Price Analysis
The S token 4-hour chart below shows that the Relative Strength Index (RSI) reads a value of 73.80, confirming that the altcoin is currently overbought. The gradient of the line indicates further higher prices, which means that we could see S token retest the $1 price tag and claim a new all-time high by the end of the market cycle.
Source: TradingView
Also, the MACD indicator shows that the MACD line (blue) remains above the signal line (red), which means that the bulls are in control. However, the two lines are gradually coming closer, suggesting an increasing number of sellers as traders take profit on the recent gains.
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