Sonic’s price rose by 10% following a notable drop of 17%. The increase was supported by an inflow of over 23 million USD into the Total Value Locked. However, investor caution persists, which may indicate potential future declines.
Despite the price recovery, network activity has diminished. Active addresses and daily transactions on the Sonic chain have decreased, raising concerns about the sustainability of this uptick, compounded by a significant decline in daily trading volume.
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