SONIC Token Launches on Multiple Exchanges, Reaches $2.3B FDV as Solana's Layer-2 Gaming Solution

The SONIC token, associated with Sonic SVM, a layer-2 solution on the Solana blockchain, has been launched and is now available for trading on multiple major cryptocurrency exchanges.

The token began trading at approximately $0.98, reaching a fully diluted valuation (FDV) of about $2.3 billion within the first few hours. Sonic SVM, designed to address potential network congestion issues during on-chain game development, has been listed on platforms including Bybit, OKX, Backpack, and Raydium. Bybit offers SONICUSDT perpetual contracts with up to 75x leverage, while OKX and Raydium have introduced spot trading options for SONIC.

Additionally, Upbit, South Korea's largest crypto exchange, plans to list SONIC trading pairs in KRW, BTC, and USDT. The launch of SONIC marks a significant step for Solana's ecosystem, aiming to enhance scalability and user engagement in blockchain gaming. The Alpha Vault, which facilitated the token's fair launch, has been closed.

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