Interpreting the airdrop release rules of the veteran Layer1 Sonic: What will be the subsequent price trend of $S tokens?

Author: Yue Xiaoyu

has recently seen a lot of tweets about Sonic, which shows that Sonic's ecology is still relatively hot, and naturally there are many opportunities.

Sonic (formerly known as Fantom), as a veteran Layer 1 public chain project, has been in the spotlight for its high performance and innovation in the last bull market.

Now, Sonic is back with a new brand and technology upgrades, and has embarked on a very large-scale, long-term airdrop program.

Some friends may be worried about whether this wave of large-scale airdrops will have an impact on the price of $S, so let's briefly analyze it:

1. Controllable selling pressure: The market impact can be quantified

The 47.625 million $S released by the airdrop in the first quarter accounted for only 1.5% of the total supply, and Sonic The burning mechanism and the fNFT market further weakened the selling pressure.

Fantom (the predecessor of Sonic) has an average daily trading volume of about $250 million. Even though the initial sell-off accounted for 10% of the trading volume, the average daily selling pressure was only about $25 million, which was much lower than the market's ability to absorb it.

2. Ecological explosion: The TVL of Sonic's internal strong support

has surged from $26 million in early 2024 to $1 billion (May 2025), coupled with the entry of top DeFi protocols such as Aave, Silo, Euler, and Shadow, cementing Sonic's position as a DeFi hub.

Sonic's FeeM model, which refunds 90% of network fees to developers, is a reversal of traditional Layer-1 revenue distribution, similar to Airbnb's incentives for hosts. This model appeals to a large number of dApp developers.

The outbreak of the ecosystem will create continuous demand (such as transaction fees, staking, and governance) for $S, and support the long-term rise of the currency price.

3. Differentiated competition in the Layer 1 track:

Sonic's SonicVM and sub-second determinism are unique among EVM-compatible chains.

Compared to Solana (non-EVM, which has a steep learning curve for developers) and Arbitrum (which is slightly less performant), Sonic finds a balance between performance and compatibility.

Sonic's rebranding (from Fantom to Sonic) is not just a name change, it's a strategic upgrade.

Referring to Polygon's 30% increase in market capitalization following the MATIC to POL upgrade, Sonic's repositioning triggers a market revaluation.

To sum up

, the selling pressure of the airdrop is limited, and the price fluctuations of the $S may show a trend of "first suppressing and then rising" in the early stage of the airdrop.

After a short-term correction (5-10%), ecological growth and the market narrative are expected to drive the price into an upward channel.

Sonic's ecosystem is still relatively active, and there are also airdrop opportunities, which are worth paying attention to for a long time.

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