Sonic Updates ETF Token Allocation Plan, Caps Minting at 100 Million
- Market Condition Adjustment: Sonic Labs has postponed its ETF token allocation plan due to deteriorating market conditions and a significant drop in the S price, avoiding the issuance of over 600 million S tokens at current levels to protect token holders' interests.
- New Allocation Standards: ETF token allocations will only occur when the S price exceeds $0.50, with a maximum minting cap of 100 million S tokens, ensuring that the total allocation value is strictly limited to $50 million and prioritizing smaller amounts at higher price levels.
- Liquidity Management: Sonic Labs has stated that S tokens used in the ETFs will remain locked within the regulated product and will not enter the secondary market, thereby preventing additional selling pressure and ensuring market stability.
- Long-term Strategic Priority: Sonic views the listing of ETFs in the US as a long-term strategic priority, aiming to provide compliant access to institutional investors and committing to share future updates through transparent communication and governance processes.
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Technical Analysis for S
Technical Sentiment Analysis for Sonic (prev. FTM) (S) As of , Sonic (prev. FTM) (S) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for S stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, S is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sonic (prev. FTM) (S) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0124 | 0.0251 | 0.0363 | 0.049 | 0.0601 | 0.0728 | 0.0839 |
| Fibonacci | 0.0251 | 0.0342 | 0.0399 | 0.049 | 0.0581 | 0.0637 | 0.0728 |
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