Despite a slow growth in the crypto markets, Sonic placed a strong meeting this week, fueled by remarkable Defi extension and Bullish Technicals.
While the fears of escalating rates continue to weigh on the sentiment of investors, Sonic (s) broke out on Friday 4 April and reached a daily high of $ 0.514, which marks an increase of 11% in 24 hours. The rally seems to be powered by several milestones in the decentralized financial ecosystem of Sonic, which has demonstrated a steady growth of both use and capital inflow.
The total bridged value that is locked in the sonic decentralized financial ecosystem is approaching the milestone of $ 2 billion. On April 4, the figure reached that all assets to and from the Sonic Network and several other chains represents a record high of $ 1.8 billion.
This development came after Sonic on 2 April $ 1 billion in the average TVL Brak. Both figures have risen consequently since the launch of the platform, which demonstrated the steady growth of the Sonic Defi Ecosystem.
Sonic Defi -Ecosystem is growing despite bear markets
What makes Sonic’s rally more remarkable is that it came in the midst of a bearish market background. The current global trade war has dragged down the most crypto and stock activa, but the Defi sector of Sonic seems resilient. Sonic’s Defi total value has been locked since the rebranding of Fantom on December 18 from $ 520,540 to $ 987 million, which represents a price increase of 189,510%.
Solana’s Defi TVL, on the other hand, has fallen from the amount of January 22 from $ 11.7 billion to its current level of $ 6.4 billion. For this reason, some analysts point out that Sonic can be undervalued when taking his Defi growth into account.
Especially on March 24, Defi Analyst Defi Plug noted that the market capitalization of Solana was trading on a multiple of 12 compared to the Defi TVL. At the same time, the figure is for Sonic 2, which suggests that more potential benefit for the network.
