Decoding Sonic’s 24% monthly rally – What every investor needs to know
Will Sonic’s next move be meteoric escape velocity or savage snap-back?
- Sonic gained 24% monthly and 1.20% daily, maintaining bullish momentum overall.
- Sonic’s on-chain strength contrasts bearish trader behavior, creating a split in market outlook.
Sonic [S] rallied 24% over the past month and gained another 1.20% in the last 24 hours.
This upward movement is likely to continue if market momentum grows. However, a major threat still looms.
Sonic leads major blockchains in market activity
Market sentiment has shifted in favor of Sonic (S) crypto, as several indicators show strong buyer interest. This interest is evident in the growth of addresses over the past weeks.
According to Nansen, Active Addresses for the memecoin doubled last week, surpassing 45,000.
The price increase during this period suggests most of these addresses belong to buyers, likely accumulating as selling pressure remains low.
On top of that, activity on decentralized exchanges (DEXs) reflected the same momentum.
DEX volume surged by 26% in the past week to $788 million, placing Sonic ahead of Avalanche [AVAX], Hyperliquid [HYPE], Aptos [APT], Polygon [MATIC], and Tron [TRX].
Such positive activity on Sonic tends to boost S’s utility and demand.
There has also been a significant liquidity inflow into the Sonic chain, placing it ahead of every other blockchain.
As per Artemis data, Sonic recorded a Bridged Netflow of $37.1 million — the highest among all blockchains.
Inflows of this magnitude often signal accumulation and may precede explosive moves if capital continues flowing in.
Binance top traders show selling pressure
However, sentiment from top Binance traders told a different story.
According to CoinGlass, the Long-to-Short Ratio for Binance’s top traders shows a strong tilt toward selling.
The Long-to-Short Ratio indicates whether buying or selling dominates, with values below 1 reflecting higher selling activity.
At press time, Binance’s top traders have a ratio of 0.7435, signaling elevated selling.
Moreover, market-wide signals added to the caution. The Open Interest Weighted Funding Rate stood at -0.0008% at press time — a subtle but clear bearish lean.
This metric combines Open Interest and Funding Rates to measure directional bias in derivative markets. A negative reading like this hints at increased short positions relative to longs.
