Cryptocurrency
Sonic Labs Launches the Sonic Mainnet: EVM-Compatible, Verifiable 10,000 TPS, and Sub-Second Finality

[PRESS RELEASE – George Town, Cayman Islands, December 13th, 2024]
Sonic Labs today announced the launch of the Sonic mainnet, an EVM-compatible layer-1 blockchain platform that offers developers attractive incentives and powerful infrastructure.
With 10,000 transactions per second (TPS), sub-second finality, and a native, decentralized gateway to Ethereum, Sonic empowers developers to build the next generation of applications on unparalleled infrastructure and liquidity.
Developed by the same team behind Fantom, Sonic and its S token deliver a significant leap forward from both Fantom and FTM. Through a one-to-one upgrade process from FTM to S, existing FTM holders can seamlessly start using Sonic.
Sonic leverages proven expertise to establish itself as a DeFi hub by revolutionizing developer incentives while providing users with smooth user experiences and access to vast amounts of liquidity.
Fee Monetization: Developers Come First
Fee Monetization (FeeM) on Sonic rewards developers with up to 90% of the network fees generated by their applications, adopting the Web2 ad-revenue strategies popularized by platforms like YouTube. While many blockchains offer limited developer incentives and primarily focus on value extraction, Sonic addresses this issue effectively through its FeeM model.
“Recently, we’ve seen many new chains launch, especially centralized layer 2s where the founders pocket all network fees. This excludes developers from the equation, forcing them to impose extra fees on users to earn revenue. FeeM addresses this by coding developer rewards directly into the chain, ensuring that network fees are shared with developers from the start.”— Sam Harcourt, Business Development Lead, Sonic Labs
Developers on the Sonic chain receive a share of network fees generated by the traffic and engagement their applications attract, offering a built-in mechanism for ongoing revenue.
Fantom to Sonic: Upgrading FTM to S
Fantom and its FTM token are officially transitioning to Sonic and the S token. Sonic Labs is facilitating the transition by offering a dedicated upgrade portal on MySonic that allows FTM holders to seamlessly upgrade their FTM to S on a one-to-one basis.
“We are proud to launch the new Sonic chain as the next evolution of Fantom, building on its impressive track record of nearly 100% uptime since 2019. Sonic is a revolutionary platform that prioritizes developers, empowering them to create applications with seamless user experiences while earning a share of network fees.”— Michael Kong, CEO, Sonic Labs
During the initial 90 days after Sonic’s mainnet launch, holders can freely swap between FTM and S using the upgrade portal. After this period, holders will only be able to upgrade from FTM to S.
Sonic Gateway: Secure, Decentralized Interoperability
With the rise of cross-chain activity, secure and trustless bridges are more crucial than ever. Traditional layer-1 and layer-2 bridging solutions often rely on centralized systems, risking billions in potential losses.
The Sonic Gateway addresses these challenges as a decentralized and trustless bridge between Ethereum and Sonic, offering:
- Security: A fail-safe ensures user funds can be recovered on Ethereum if the Gateway is down for 14 days, guaranteeing asset protection.
- Speed: Asset transfers are batched efficiently (every 10 minutes from Ethereum to Sonic and hourly in reverse). The Fast Lane feature lets users pay a small fee to bridge instantly.
- Decentralization: Operated by Sonic’s validators on both chains, the Gateway is as decentralized as Sonic itself, preventing centralized manipulation.
“To empower users with effective and trustless control of their assets, we developed the Sonic Gateway, which provides liquidity from other platforms. Powered by our own validators and secured by a fail-safe, the Gateway lets users and apps safely leverage the benefits and incentives of bringing new liquidity to Sonic.” — Bernhard Scholz, Chief Research Officer, Sonic Labs
Sonic Labs will expand the Gateway beyond Ethereum in the future, enabling direct, decentralized access to multiple blockchains’ native assets.
Sonic Airdrop: Distributing the S Token
To encourage network growth, Sonic Labs is distributing 190.5 million S tokens through an airdrop program focusing on both users and developers. The program includes two incentive structures:
- Sonic Points: Rewards end-users for early adoption, asset holding, and overall engagement.
- Sonic Gems: Rewards developers for creating applications that drive user activity and innovation. Developers can convert Gems to S and share the tokens with their users to incentivize continuous usage.
About Sonic
Sonic is an EVM layer-1 platform that offers developers attractive incentives and powerful infrastructure. The chain provides over 10,000 TPS, sub-second confirmation times, and a secure gateway to Ethereum for enhanced liquidity and asset security.
For more information, users can visit Sonic’s official website and follow Sonic’s Twitter.
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Cryptocurrency
Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

TL;DR
- Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
- Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
- Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.
Large Withdrawals and Whale Activity
Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours.
Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.
One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.
Major ETH Holders Offload Millions Amid Price Rally
In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.
A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months.
Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578.
Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.
The #EthereumFoundation-linked wallet(0xF39d) sold another 1,300 $ETH($5.87M) at $4,518 ~11 hours ago.
Over the past 3 days, this wallet has sold a total of 6,194 $ETH($28.36M) at an average price of $4,578.https://t.co/4hfCWymHVG pic.twitter.com/ErUyEY8SJy
— Lookonchain (@lookonchain) August 15, 2025
Network Activity on the Rise
CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.
Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period.
At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.
In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.
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Cryptocurrency
Massive DOGE Whale Activity Hints at $1 Breakout

TL;DR
- Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
- A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
- DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.
Price and Market Moves
Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion.
Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.
On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.
$Doge/2-week#Dogecoin is gaining strong momentum to surge above $1 pic.twitter.com/TuSEKr19nv
— Trader Tardigrade (@TATrader_Alan) August 15, 2025
Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.
Heavy Whale Buying and Large Transfers
As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community.
Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.
Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.
Whales are back! Dogecoin $DOGE activity at a 1-month high. pic.twitter.com/C83Pv68mCt
— Ali (@ali_charts) August 14, 2025
Sentiment Building
Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding,
“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”
With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.
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Cryptocurrency
Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.
Technical Analysis
By ShayanMarkets
The USDT Pair
On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.
Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.
However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.
This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.
The BTC Pair
Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.
This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.
That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
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