Sonic (prev. FTM) (S) is a cryptocurrency launched in 2024. Sonic (prev. FTM) has a current supply of 3,175,000,000 with 2,880,000,000 in circulation. The last known price of Sonic (prev. FTM) is 0.45292008 USD and is down -2.71 over the last 24 hours. It is currently trading on 199 active market(s) with $135,904,629.36 traded over the last 24 hours. More information can be found at https://www.soniclabs.com/.
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Cryptocurrencies struggled in the past sessions as macroeconomic developments, including Trump's trade war, dented the appetite for risk assets. However, Sonic defied the bearish trends with consistent total value locked (TVL) growth. Sonic's TVL skyrocketed past $1 billion in April (data extracted from DeFiLlama), reflecting massive growth in 2025 (so far).
Sonic Labs has suddenly dropped its plan to launch a USD-backed algorithmic stablecoin, shifting its focus to a UAE dirham-backed alternative. The decision comes as stablecoin regulations tighten in the US, thus, the company is shifting its focus to the United Arab Emirates (UAE) dirham.
Barely a week after hinting at launching an algorithmic USD stablecoin, Sonic Labs is shuttering its plans. Sonic Labs co-founder Andre Cronje revealed that incoming stablecoin regulation in the US contributes to the change of stance.