Sonic Crypto is a 120 m milestone as a network price as a network.

The sonic crypto value was provoked for the secret day as the network transaction reached 120 million milestones.

Sonic (S) token on Thursday at a high level of $ 0.3555, up to 25% from its lowest point this week. It is paid some of those benefits and was trading at $ 0.3300 at the press time.

Sonic transaction hit 120 meters

After announcing by the devilopers, Sonic jumped that Layer -1 network crossed 120 million transactions six months after its launch.

Although it is a remarkable milestone, there are indications that the sonic is losing speed, which suggests that it is a token that robs the initial growth back.

Nansen’s data shows that Sonic’s transaction in the last 30 days has increased to 8.6 million. At the same time, the number of active addresses on the network declined by 40% to 232,000. This recession occurred even when other chains like medieval and Linia saw an increase in transaction.

More data suggests that the sonic ecosystem is struggling. For the Defef Lama, the amount of Stabelcoin in its ecosystem fell to $ 209 million, the lowest level since March and below the year-by-year $ 597 million.

The total value of the sonic is locked, which is also in a strand downrade in the months. This year, after a pecking of about $ 2 billion, TVL has fallen to $ 1.2 billion.

Sound price technical analysis

The daily chart suggests that the Sonic Crypto price has traded sideways during rejection days. It was trading at $ 0.30, which is a few digits from the year-by-year of $ 0.2490.

The token has formed a descending triangle pattern, a popular recession with a signal. With transacts, defi assets and stablecoin supplies, there is a risk of a recession breakdown. If this happens, the initial target will be low-time of $ 0.2490. A motor further negatively negative under that low wold signal.

On the other hand, descending the upper part of the channel confirms a rapid breakout and pointing to more profit.