Solana Gaming Layer-2 SONIC Soars to $2.58B Valuation on Launch Day, Backed by TikTok Integration

Sonic SVM, a new layer-2 gaming solution built on the Solana blockchain, launched its native SONIC token on Tuesday across multiple major cryptocurrency exchanges, reaching a fully diluted valuation of approximately $2.58 billion within hours of trading.

Solana Gaming Layer-2 SONIC Soars to $2.58B Valuation on Launch Day, Backed by TikTok Integration
Sonic, Solana’s layer-2 network for gaming, launches

The token, which began trading at roughly $0.98, has been listed on several prominent exchanges including Bybit, OKX, KuCoin, MEXC, and Raydium. Bybit is offering SONICUSDT perpetual contracts with up to 75x leverage, while other platforms have introduced spot trading pairs. South Korea’s largest crypto exchange, Upbit, has also announced plans to list SONIC trading pairs in KRW, BTC, and USDT.

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Solana’s First Layer-2 Solution for Gaming

Using the Solana Virtual Machine (SVM) to enable simultaneous execution of hundreds of thousands of transactions per second at minimal costs, Sonic SVM marks a major change in Solana’s ecology. With its flagship game SonicX, a “tap-to- earn” game fully linked with TikHub, now attracting over 120,000 users, the project has drawn especially interest for its emphasis on gaming applications.

The project team said in a news release “the launch of the SONIC token will raise awareness of the network’s impending launch and onboard more users to its growing ecosystem.” With 57% of the token supply set for the community, the platform seeks to democratize access to Web3 gaming.

Successful Alpha Vault and SONIC Airdrop

Sonic SVM provided early access before to the general release via an Alpha Vault in association with Meteora and Bonk. Originally aiming at $300,000, the vault—which let users deposit up to 420 USDC—was much oversubscribed and attracted about $3 million in deposits.

Seven percent of the overall SONIC supply was also given to qualified individuals including SonicX gamers, node operators, and particular NFT holders via an airdrop. Airdrop participants could choose a vesting schedule with a bonus structure or receive their whole allotment right now.

Sonic SVM’s Technical Infrastructure and Future Plans

The project’s technical architecture includes several notable features:

  • A HyperGrid framework designed for optimistic rollups
  • Sorada, a native RPC service operating alongside Helius RPC
  • Integration with Pyth’s oracle network for decentralized price feeds
  • Collaboration with Metaplex for NFT functionality

The full mainnet launch is scheduled for February 10, 2025, with plans to activate a cross-chain bridge and launch Sega DEX, an automated market maker protocol optimized for capital efficiency.

Market response to the launch has been notably positive, with SONIC processing over $1.2 billion in trading volume within its first day of trading, according to CoinMarketCap. The token’s market capitalization has shown resilience, reaching new highs of over $630 million before sliding lower on airdrop selling pressure.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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