Sonic SVM
SONIC
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Sonic SVM price
in USD$0.13653
-- (--)
USD
Last updated on --.
Market cap
$49.35M #171
Circulating supply
360M / 2.4B
All-time high
$1.318
24h volume
$15.99M
Rating
4.0 / 5
About Sonic SVM
Sonic SVM (ticker: SONIC) is a next-generation cryptocurrency designed to power a high-performance blockchain ecosystem. Built for speed and efficiency, SONIC leverages advanced technology to enable ultra-fast transactions and seamless decentralized applications (dApps). Its unique architecture supports sub-second finality, making it ideal for use cases like gaming, DeFi, and real-time data processing. Within its ecosystem, SONIC is used for transaction fees, staking, and governance, empowering users to actively participate in the network's growth and decision-making. Whether you're a developer, trader, or blockchain enthusiast, SONIC offers a robust and scalable platform to explore the future of decentralized innovation.
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Sonic SVM risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Sonic SVM. All crypto assets are risky, there are general risks in investing in Sonic SVM. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
Sonic SVM’s price performance
Past year
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3 months
-38.70%
$0.22
30 days
-21.65%
$0.17
7 days
+7.18%
$0.13
Sonic SVM on socials
Quick update following yesterday’s situation with the creation of a scammy Euler vault and an incentive campaign by a bad actor on @merkl_xyz
The first thing to note is that Merkl operates as a permissionless platform: anyone can create a campaign on top of any asset/pool using Merkl, provided that they use a reward token that we've whitelisted.
That being said, as maintainers of the Merkl app, we recognize our responsibility to protect users. Everyone deserves clear warnings and the tools necessary to conduct proper due diligence before committing to any opportunity, especially those carrying significant risk.
On this topic in particular, as soon as we were notified of the potential danger on this vault, we labeled it as UNVERIFIED and later proceeded with removing it from the Merkl app.
We're working on adding extra safeguards to prevent scammy incentive campaigns from appearing on our frontend. We’re also collaborating with protocols to improve metadata parsing, spot risky vaults or markets ahead of time, and help everyone steer clear of such traps.
YAM 🌱
Be VERY careful interacting with unverified @merkl_xyz campaigns.
A bad actor is creating triple digit APR incentives on Sonic for depositing USDC into an Euler vault, and drains all deposits. This is how it works:
Because Euler is permissionless, the attacker was able to deploy a 'fake' market using scUSD as collateral and USDC as debt. The market has a 1$ deposit cap for scUSD - fully taken by the bad actor. The scUSD oracle price is set to $1M per token, allowing the attacker to borrow 700,000 USDC against a single scUSD (at 70% LTV). The attacker controls the oracle and can raise the price further to extract more funds if needed.
Next, the attacker created an unverified, fake campaign on Merkl to attract deposits. Any USDC deposited to this market is borrowed, swapped into ETH, and transferred to @RAILGUN_Project.
Current losses: roughly $145,000, and growing.
As the attacker is not actively monitoring the vault for new deposits, it allowed 0xc0f8feab321f8ffe97666768451747d16da8cad5, a victim who previously deposited USDC into this vault, to withdraw USDC before the attacker managed to borrow it.
While we don't think @merkl_xyz or @eulerfinance are at fault here, as they both clearly flag the campaign/market as unverified, @merkl_xyz should likely make depositing into an unverified campaign much more annoying with more pop-up warnings, just to prevent this from happening in the future.
Main operator: 0x8ba913e764c5cc9b22ee63737841059ad9caac5f
Final receiver before railgun: 0xa86399e78fb3d9fb5be053825a016e32d390fc12
The list of victims can be found here:
Campaign (SCAM, don't deposit):
Euler Market (SCAM, don't deposit):
cc @zachxbt
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Sonic SVM FAQ
Currently, one Sonic SVM is worth $0.13653. For answers and insight into Sonic SVM's price action, you're in the right place. Explore the latest Sonic SVM charts and trade responsibly with OKX.
Cryptocurrencies, such as Sonic SVM, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Sonic SVM have been created as well.
Check out our Sonic SVM price prediction page to forecast future prices and determine your price targets.
Dive deeper into Sonic SVM
Sonic SVM is the first SVM to launch on Solana. Sonic SVM built the first Web3 TikTok app-layer to bring millions of TikTok users to Solana. Sonic SVM is also the leading gaming ecosystem on Solana.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice.
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
Market cap
$49.35M #171
Circulating supply
360M / 2.4B
All-time high
$1.318
24h volume
$15.99M
Rating
4.0 / 5