S Token Soars 11%: Andre Cronje Unveils Bullish Vision for Sonic

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Will Sonic Reach $1?

S Token Soars 11%: Andre Cronje Unveils Bullish Vision for Sonic

Sonic

Image of S token

24h volatility: 2.4%
Market cap: $2.76 B
Vol. 24h: $912.35 M

, previously known as Fantom [NC], has skyrocketed more than 11% in the past 24 hours, reaching a daily high of $0.9891 🤑. It’s practically dancing with the $1 price tag, but is it destiny? This cryptocurrency has had a wild week, soaring a whopping 62.35%, and is a mere 13% away from its all-time high of $1.03, seen over two months ago. At press time, it’s trading at $0.8867 📈, says CoinMarketCap.

Sonic completed its metamorphosis from Fantom in January with several exchanges welcoming the debut of the S token. Meanwhile, Andre Cronje, the mastermind behind the rebranding of the Fantom (FTM) blockchain into Sonic (S), shared his enthusiastic 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 aim to eliminate gas fees for users during onboarding, removing a major obstacle 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 eliminate 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 seen a massive surge in recent days, currently standing at $707 million, according to DefiLlama data. While the TVL surged 16% in the past day, the blockchain network started 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.

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2025-02-21 21:23