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#PowellRemarks Sonic jumps 11% despite bearish markets: DeFi growth fuels the rally
Despite a sluggish growth in the crypto markets, Sonic posted a strong rally this week, fueled by notable DeFi expansion and bullish technicals.
While fears over escalating tariffs continue to weigh on investor sentiment, Sonic (S) broke out on Friday, April 4, reaching a daily high of $0.514, marking an 11% increase in 24 hours. The rally appears to have been driven by multiple milestones in Sonic’s decentralized finance ecosystem, which has shown steady growth in both usage and capital inflows.
The total bridged value locked across the Sonic decentralized finance ecosystem is approaching the $2 billion milestone. On April 4, the figure, which represents all assets bridged to and from the Sonic network and multiple other chains, reached an all-time high of $1.8 billion.#PowellRemarks #SONIC #son $S
Despite a sluggish growth in the crypto markets, Sonic posted a strong rally this week, fueled by notable DeFi expansion and bullish technicals.
While fears over escalating tariffs continue to weigh on investor sentiment, Sonic (S) broke out on Friday, April 4, reaching a daily high of $0.514, marking an 11% increase in 24 hours. The rally appears to have been driven by multiple milestones in Sonic’s decentralized finance ecosystem, which has shown steady growth in both usage and capital inflows.
The total bridged value locked across the Sonic decentralized finance ecosystem is approaching the $2 billion milestone. On April 4, the figure, which represents all assets bridged to and from the Sonic network and multiple other chains, reached an all-time high of $1.8 billion.#PowellRemarks #SONIC #son $S
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