Sonic Token Rises 7% After CMCC Global Invests $25M in Ecosystem
Sonic Token Surge: Sonic's native token, S, experienced a 7% increase following the announcement of CMCC Global's $25 million Resonance fund aimed at enhancing liquidity and supporting DeFi projects within the Sonic ecosystem.
Institutional Support and Growth: The Resonance fund is designed to foster innovation and sustainable revenue for developers, reflecting growing institutional confidence in Sonic's potential within the DeFi space, as highlighted by Sonic Labs' CEO.
Market Recovery Indicators: Technical analysis shows signs of recovery for Sonic, with resistance at $0.28 and support at $0.24, suggesting potential upward momentum if key levels are maintained.
Expansion Initiatives: Sonic has been actively expanding its network, securing major exchange listings, integrating USDC issuance, and approving a $150 million expansion program, which includes significant investments to enhance its ecosystem.
About the author








