Amid the wide decline, trading company Crypto.com ignited the Sonic community with a flash rewards campaign, offering $S holders a short-term chance to enjoy 6% annual returns.
Promotion starts today and ends on November 13th or when the total limit of $1,500,000 is reached.
Meanwhile, the event also introduces another incentive program for users of the exchange's Crypto Earn feature, offering rewards to users who lock their tokens for a specified period of time.
Most traditional acquisition options can span several months. Crypto.com Flash Rewards, on the other hand, offers a 14-day lock-up period while securing favorable yields.
$S Flash Reward Details
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Crypto.com has launched Flash Rewards within Crypto Earn to allow users to earn increased incentives on select tokens.
Each reward program targets a specific asset ($S in this case) and provides short-term profit increases with pre-determined lock-up conditions.
In the ongoing campaign, participants can allocate between 200 $S and 30,000 $S tokens.
After locking, these assets will be unavailable for 14 days. After that, the user will automatically receive the coins and earned rewards.
In particular, Flash Rewards quotas do not affect a user's tier-based quotas in Crypto Earn.
Individuals who have met their Tier 1 quota but have not reached their maximum earned quota may also participate in the promotion.
Sonic receives a short-term boost
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The Sonic Flash Rewards promotion is part of Crypto.com's ongoing efforts to attract and retain users through token-specific campaigns and flexible revenue avenues.
The 6% APY reflects the exchange's commitment to balancing competitive yields and accessibility.
$S holders can take advantage of the 14-day event to leverage their idle tokens without committing to a long-term contract.
These benefits align with Crypto.com's broader vision to enhance user participation through limited-time promotions and diverse asset offerings.
qualification
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Crypto.com has opened up its Sonic Flash Rewards campaign to users in certain countries due to regulatory challenges.
For example, enthusiasts in the United States will not have access to the promotion, despite the project's latest efforts to expand its presence in the region.
Additionally, Crypto.com app users in Canada, the United Kingdom, Turkey, South Korea, Singapore, Australia, and the European Economic Area do not receive the 6% APY.
Outlook for S dollar price
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Sonic’s token is trading at $0.1431 after dropping more than 6% of its value in the past 24 hours.
$S has had a lackluster performance after dropping 15% and 50% in the last week and month.
Technical indicators confirm that the bears are in the ascendancy.
The token is trading well below the 50 and 100 exponential moving averages on the 4H chart.
Additionally, the moving average convergence divergence has remained below the signal line since the October 27 crossover.
Nevertheless, the 4H relative strength index suggests a potential rebound. The RSI is showing 25, indicating an oversold situation.
Meanwhile, Sonic's global expansion mission shows the team's dedication to long-term goals.
