Sonic value has surged 13% within the final 24 hours as Binance expands help for the crypto asset. integrating the token into its Earn, Buy Crypto, Convert, Margin, and Futures providers. The migration from Fantom (FTM) to S has additionally begun, enabling seamless token swaps and increasing the token’s ecosystem.
Sonic Price Gains 13% as Binance Expands Support Across Key Services
On January 16, Sonic value surged 13% following Binance’s announcement to combine the S token into its Earn, Buy Crypto, Convert, Margin, and Futures providers. Users can now entry Flexible and Locked Earn merchandise, providing aggressive APR charges of as much as 3% for a 120-day lock interval. These enhancements purpose to broaden the token’s accessibility and drive consumer engagement.
Additionally, Binance Margin launched the token as a borrowable asset, permitting customers to commerce it on each Cross and Isolated Margin. VIP customers gained early entry to margin loans, emphasizing its dedication to offering flexibility for superior merchants.
The trade futures additionally launched the USDT Perpetual Contract with as much as 75x leverage. These developments showcase one of many top crypto exchanges‘ ongoing efforts to support diverse trading options and attract investors to its growing ecosystem.
Fantom to Sonic (S) Migration Marks a Key Milestone
The migration from FTM to S has officially begun, marking a significant step in the blockchain’s evolution. The transition is designed to be user-friendly, with FTM holders in a position to improve their tokens at a 1:1 ratio by way of the MySonic improve portal. For the primary 90 days, token exchanges will likely be unrestricted, after which solely upgrades from FTM to S will likely be allowed.
Sonic Labs has ensured widespread accessibility for the brand new token, securing listings on 13 main exchanges, together with Binance. Crypto exchanges will even help FTM’s rebranding by suspending FTM deposits and withdrawals and delisting the FTM/USDT spot pair. Eligible customers will mechanically obtain the brand new tokens in a 1:1 ratio.
Binance reported that spot buying and selling has reopened for S/BTC, S/BNB, S/ETH, S/EUR, S/FDUSD, S/TRY, S/USDC, and S/USDT spot buying and selling pairs. For customers with opened spot copy buying and selling portfolios, the trade mentioned “Pairs can be included by enabling them in the [Personal Pair Preference] section of the Spot Copy Trading settings.”
Despite the shift, Fantom will stay operational with a TVL exceeding $168 million. Additionally, the corporate has reserved 190.5 million tokens to incentivize participation and adoption, underscoring a stable roadmap for future progress.
Current Price Action
S value was presently buying and selling at $0.7784, marking a 13% enhance in value over the previous 24 hours. The token’s 24-hour high and low had been $0.70 and $0.845, respectively, with a market cap of $2.24 billion and a buying and selling quantity of $77 million. Over the final week, it has posted a outstanding 20% achieve, reflecting rising investor confidence.
Binance stays proactive in updating its choices, and not too long ago expanded support for DOGE, LTC, and CGPT. With Sonic’s integration, the platform additional cements its fame as the go-to platform for the newest blockchain developments.
Coingape Staff
CoinGape contains an skilled workforce of native content material writers and editors working around the clock to cowl information globally and current information as a reality slightly than an opinion. CoinGape writers and reporters contributed to this text.
Disclaimer: The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
