Blockworks: Sonic Labs locked up over $1 billion in four months, data reveals its counter-cyclical growth.

CN
1 day ago

Currently, Sonic's daily trading volume has stabilized at around $100 million.

Author: Blockworks Research

Compiled by: Deep Tide TechFlow

Since its launch, @SonicLabs has achieved significant growth even in a bear market environment.

About four months after its launch, the total value locked (TVL) on the chain surpassed $1 billion.

The trading volume of decentralized exchanges (DEX) is consistent with the overall growth of the chain.

Currently, the daily trading volume has stabilized at around $100 million.

Several decentralized exchanges have migrated to Sonic, including:

  • Shadow Exchange

  • SwapX Algebra

  • WAGMI

  • Metropolis DLMM

  • SilverSwap

Among them, Shadow Exchange is currently in the lead, with a daily trading volume of about $40 million.

Interestingly, on Sonic, the trading volume of perpetual contracts exceeds that of DEX.

The daily trading volume of perpetual contracts consistently exceeds $100 million.

This is mainly attributed to Vertex, which holds nearly 100% of the perpetual contract market on the chain.

Although Sonic is still in its early stages, its strong capital inflow has formed a sustainable ecosystem.

In the future, it will be worth watching whether the chain can continue to build on its early momentum.

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