Here's Why Sonic (S) Price Pumped 50% In February Despite Crypto Market Crash

The price of Sonic (prev FTM) saw a 50% increase in February 2025, even as the broader cryptocurrency market faced downward pressure.

The price of Sonic (CRYPTO: SONICP) has surged by 50% in February 2025 despite the broader cryptocurrency market facing strong headwinds.

What Happened: The price of Sonic, formerly known as Fantom (FTM), has experienced a remarkable 50% surge in February 2025, even as the broader cryptocurrency market encountered downward pressure. Data from DeFiLlama reveals that the Total Value Locked (TVL) in Sonic EVM has surged past $700 million, showcasing the strong interest from investors.

A key development occurred on February 15, when Solana-based meme coins started losing their value, resulting in a liquidity shift that favored the price uptick of Sonic.

Crypto expert Miles Deutscher highlighted on X, formerly Twitter, that Sonic is one of the few ecosystems showcasing sustained growth amid a market downturn.

“Total value locked (TVL) on $S has surged since people started leaving Solana and has managed to hold its value during this market pullback. Nearly $700m now in Sonic, one of the few chains still in growth despite the market downturn,” Deutscher stated.

At the time of writing, the price of Sonic is $0.7189.

Sonic's TVL Growth and Market Performance:

An analysis of chart data from DeFiLlama indicates a steady upward trend in Sonic EVM’s TVL since December 2024. Commencing from near-zero levels, the TVL exceeds $200 million by early January 2025.

Throughout January and early February, the TVL maintains consistent growth, reaching around $500 million before undergoing a significant increase following the February 15 event.

The surge in TVL after Solana meme coins experience momentum loss suggests a correlation between liquidity outflows from Solana and rapid inflows into Sonic. Notably, there is no major retracement or resistance encountered by the TVL during this period, signifying strong investor confidence and sustained demand.

Key Market Shift in February:

The chart data highlights February 15, 2025, as a pivotal moment, with Sonic’s TVL undergoing a sharp rise immediately after Solana-based meme coins begin to experience a decline in value.

Investors appear to be transferring their funds into Sonic’s ecosystem, leading to a nearly parabolic increase in TVL to levels beyond $700 million.

This movement aligns with Deutscher’s observation that Sonic is benefitting from market shifts while other ecosystems struggle. The timing of Sonic’s price jump suggests that traders are seeking alternative assets amid Solana’s price volatility.

See Also: How Much Will 3,000 PI Coins Be Worth If Bitcoin Bounces Back to $100K?

Sonic Price Support Levels and Future Prospects:

From a technical pattern perspective, technical traders may recognize that Sonic’s TVL encountered early support at the $200-$300 million levels in January, establishing a foundation for further growth.

The $500 million level in early February serves as another key milestone before the rapid spike in mid-February. Unlike other assets which are facing market corrections, Sonic’s price has encountered no technical resistance during this ascent.

Technical traders can identify a strong support level for Sonic price at $0.2499, which has prevented steeper drops on previous occasions. In terms of resistance, the $0.4834 level is the main barrier to watch for further price gains. If the price manages to break through this point, it could open the way for a potential rally to the next resistance zone at $0.6664.

A sustained period of institutional or large-scale capital inflows into Sonic suggests that investors remain optimistic about the long-term prospects of the ecosystem.

If broader market conditions deteriorate, and investors become concerned about other cryptocurrencies, there is a possibility that capital could flow out of those assets and into Sonic, potentially reinforcing its growth trend further.