Transaction activity on the Sonic blockchain is surged today after Binance Wallet announced support for the network in upcoming airdrops. The exact details of the airdrop are still relatively sparse, but the community is responding to enthusiasm.
Sonic has some important developments beyond this airdrop that will help promote hype. Binance Alpha lists three ecosystem tokens, including one for the largest DEX, and Airdrop may contain 200 million tokens.
Binance Airdrop Fuel Sonic hype
Sonic, a Layer-1 blockchain focused on high performance, has been a prominent lately. Temporarily a top performer in late March, its blockchain ecosystem hit $1 billion on TVL earlier this month.
Since Binance announced Airdrop, Sonic has been rising again, with trading volumes rising in 24 hours, with price increases of nearly 14% and 130%.
Sonic(s) Daily Price Chart. Source: TradingView
Binance claimed that “S and Sonic Ecosystem Asset Airdrops are coming for the active traders of the new Sonic Chain,” but details are unknown. Previous statements suggest that Sonic will air 200 million tokens, which has not been confirmed recently.
Still, there is one useful insight that might help explain this. A few hours before the announcement of Sonic Airdrop, Binance Alpha listed Shadow.
Shadow, the company that creates this token, is the largest dex on Sonic's blockchain. Community commentators have begun to speculate that this and several other Sonic Ecosystem token lists are revealing the growing interest in Binance in blockchain.
In other words, several ecosystem developments are gathering together to build community hype. Even though Binance has not officially confirmed that it will help with Airdrop 200 million tokens, Sonic has made some positive developments in its work.
The network shows increasingly bullish sentiment as traders are crowding Sonic in anticipation of potential airdrops in the future.
