To meet investor demand Sonic Blockchain saw its TVL increase 66% to $253 million after rebranding from Fantom. Data from DeFiLlama shows Sonic increased its total value locked from $153 million on Jan. 16 to achieve $253 million on Jan. 28.
The Sonic blockchain witnessed a TVL boost of 66% but the S token value fell by 41% during January. The token price available from CoinMarketCap shows that it sells for $0.43.
Sonic Claims Fastest Transactions
According to Sonic their Ethereum Virtual Machine (EVM) chain leads all networks with transactions processing in only 720 milliseconds. After a transaction happens on the blockchain it becomes permanent and unchangeable at blockchain finality. The blockchain stands apart from other blockchains because it takes less than 700ms rather than numerous blocks to establish transaction finality.
The crypto industry highlighted the blockchain project when its testnet hit the 720ms finality mark on September 8, 2024. By achieving mainnet consistency in transaction processing the blockchain would have one of the fastest blockchain networks according to Andre Cronje, the blockchain chief technology officer and creator of the Fantom Network.
Current mainnet data shows the blockchain processes transactions in less than a second while averages 0.98 seconds between blocks according to Chainspect statistics. For comparison, Solana, another high-performance blockchain, features a 12.8-second finality with a faster block production time of 0.4 seconds—twice as fast as the blockchain current block generation speed.
Investors trust the blockchain new branding and enhanced technology platform more than before which propelled Total Value Locked (TVL) numbers up sharply. People will watch carefully to see the blockchain keeps growing its business and turns its technological promises into successful market usage.
