The Sonic blockchain has surpassed $250 million in total value locked (TVL), driven by the growing investor interest following its recent rebranding.
The Andre Cronje-led Sonic surpassed $253 million in TVL on Jan. 28, growing over 65% from $153 million on Jan. 16, DefiLlama data shows.
Sonic TVL, all-time chart. Source: DeFiLlama.com
The surge in TVL occurred after the project rebranded from Fantom to Sonic on Binance.
The Sonic (S) token has been in a downtrend despite the blockchain surpassing the $250 million TVL milestone. The token has fallen by over 41% in January and traded at $0.43 at the time of writing, CoinMarketCap data shows.
S/USDT, all-time chart. SourceL CoinMarketCap.com
Sonic claims to be the world’s fastest Ethereum Virtual Machine (EVM) chain, with a “true” 720 milliseconds (ms) finality — the assurance that a transaction is irreversible, which happens after it is added to a block on the blockchain ledger.
Related: Arizona Senate moves forward with Bitcoin reserve legislation
Sonic aims to become the world’s fastest blockchain by finality
Sonic has garnered attention in the crypto industry since its testnet achieved a 720 ms finality on Sept. 8, 2024.
Sonic testnet, finality numbers. Source: Andre Cronje
After a transaction is executed, most blockchains require several additional blocks to make the transaction non-reversible, unlike Sonic, which brings this transaction finality to just over 700 ms.
The milestone, which occurred in a controlled test environment, positions Sonic as a contender for the world’s fastest blockchain network by transaction finality if the same performance can be achieved on its mainnet, according to Andre Cronje, the creator of the Fantom Network and the chief technology officer of Sonic Labs.
Related: Trump’s executive order a ’game-changer’ for institutional crypto adoption
Currently, the Sonic mainnet boasts a sub-second transaction finality and 0.98-second block times, according to Chainspect data.
Solana finality and TPS. Source: Chainspect
In comparison, the Solana mainnet averages 12.8-second finality but boasts a 0.4-second block time, which is twice as fast as Sonic’s current block production.
$10T Crypto Market Cap in 2025? Dan Tapiero Explains. Source: YouTube
Magazine: BTC above $150K is ‘speculative fever,’ SAB 121 canceled, and more: Hodlers Digest, Jan. 19 – 25