The $S ecosystem had a strong run earlier this year and brought a lot of fun along with it. Most of that momentum has cooled off, with many tokens now sold off heavily. Season 2 of the airdrop is now running. As a result, mindshare is rising again, with $S now in the top 5 among L1s over the past 7 days and holding the highest mindshare to FDV ratio of any chain. Season 1 of the airdrop is also expected to be ready by mid July. Alongside this, Many new projects are also starting to launch. One major catalyst on the horizon is @flyingtulip_, a new project from Andre Cronje that is expected to go live in the near future. Of all upcoming catalysts, this one stands out. It is often described as an improved Hyperliquid and will no doubt be a major driver of onchain activity. The charts referenced below for $SHADOW, the leading DEX, and $GOGLZ, the lead meme, reflect the price action of much of the ecosystem. After months of pain, could sonic finally be ready to run it back?
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