Trading activity on the Sonic blockchain surged today after Binance Wallet announced support for this network with an upcoming airdrop. Specific details about the airdrop remain quite limited, but the community has reacted very enthusiastically.
Sonic has several important developments beyond this airdrop that help create excitement. Binance Alpha has listed three tokens in its ecosystem, including a token for its largest DEX, and the airdrop could contain 200 million S tokens.
Binance Airdrop Ignites Sonic Fever
Sonic, a high-performance Layer-1 blockchain, has become increasingly prominent recently. It was one of the leaders at the end of March, and its blockchain ecosystem reached $1 billion in TVL earlier this month.
Since Binance's announcement about the airdrop, Sonic has rebounded, with a price increase of nearly 14% and trading volume rising 130% in 24 hours.
Daily price chart of Sonic (S). Source: TradingViewBinance stated that "S and Sonic ecosystem assets will be airdropped to active traders on the new Sonic Chain," but specific details remain unknown. Previous statements suggested that Sonic would airdrop 200 million tokens, but this has not been recently confirmed.
However, there is useful information that might explain this. A few hours before the Sonic airdrop announcement, Binance Alpha had listed SHADOW.
Shadow, the token issuer, is the largest DEX on Sonic's blockchain. Community commentators have begun speculating that listing this token and several others in the Sonic ecosystem indicates Binance's growing interest in this blockchain.
In other words, several developments in the ecosystem are together creating excitement in the community. Even if Binance has not officially confirmed that they will help airdrop 200 million S tokens, Sonic still has some positive developments ongoing.
The network is showing an increasingly optimistic sentiment as traders rush into Sonic with hopes of a potential future airdrop.
