On June 23, Coinbase, a leading cryptocurrency exchange, announced that it will list Sonic on the Sonic Network, with trading expected to begin on or after 9 AM PT on June 24, 2025, if liquidity conditions are met.
The exchange cautioned users not to send S tokens over other networks, as doing so could result in permanent loss of funds. Initially, transfers will be available on Coinbase and Coinbase Exchange in supported regions, with the S-USD trading pair rolling out in phases once sufficient liquidity is established.
However, the company mentioned that access to S may be limited in certain jurisdictions.
What is Sonic Network
Sonic is a high-speed blockchain created by the Fantom team, launched in December 2024 as an upgrade to their previous Fantom Opera Network. This new network solves major problems of older blockchains by being incredibly fast and efficient.
It can process transactions in less than one second and handle up to 10,000 transactions every second. This is hundreds of times faster than Ethereum.
At full capacity, Sonic could manage over 800 million transactions daily, which makes it ready for real-world use at a massive scale.
The network comes with special benefits for developers who want to build applications. Through its unique Fee Monetization program, developers can earn back up to 90% of the transaction fees their apps generate.
There is also a 200 million S token fund available to support important projects that help grow the ecosystem. Since Sonic works with existing Ethereum developer tools, it is too easy for programmers to migrate their projects over or create new ones without learning completely new systems.
Sonic uses Proof-of-Stake (PoS) to keep its network secure and running smoothly. In this system, validators lock up the native S token to help validate transactions and maintain the blockchain.
To become a validator, users need to stake a minimum of 500,000 S tokens. For users who don’t want to run their own validator node, Sonic also offers delegated staking.
Iran Launches Missile Strikes on US Airbases; Impacts Crypto Market
A few minutes ago, Iran officially launched a missile strike on the U.S. airbases located in Qatar and Iraq; however, no casualties were reported as of now. The attack has initially sparked volatility in the cryptocurrency market, pushing Bitcoin below $100,000.
However, Bitcoin has quickly regained its upward momentum as the cryptocurrency is currently trading above $103,000 with a 1.81% hike at the time of writing. Sonic jumped by 5.36% in an hour, surging to $0.2947, according to CoinMarketCap.
Also Read: Cardano Price Faces 15% Downside Risk Amid This Breakdown
