Sonic Crypto Price Sees Bullish Momentum but Crypto Market Downturn Erases Gains
Sonic has recently published several updates for ecosystems, but the overall market dynamics still deleted a large part of its profits.
The integration of Sonic in Covalent enables the data to transmit as quickly as the network speed. This development is crucial for the blockchain, which is known for its ultra-fast speeds, with 400,000 transactions per second. However, most of the infrastructure has remained behind Sonic’s speed, causing a latency crisis.
Key Updates and Partnerships
Some of the key updates include:
- The integration of Sonic in Covalent enables the data to transmit as quickly as the network speed
- So far, most of the infrastructure has remained behind Sonic’s speed, which caused a latency
- Covalent offers developers of Klunddats as API
Sonic (S) has recently recorded positive market dynamics due to several updates and partnerships. On Tuesday, September 9th, the token reached a weekly high of $0.3178. Due to the general downturn of the crypto market, its price then corrected to $0.3051, which reduces its weekly profits to only 0.4%.
Covalent Integration and Compliance Functions
“Sonic is fast, 400k TPs with fast end habits. However, if the chain is in milliseconds and its infrastructure, they cannot react. This is the latency crisis,” wrote Covalent in its press release. The integration enables external developers to pull data from Sonic almost as quickly as the chain updates. This is important for users of its Goldrush platform, which mainly includes automated trade bots and on-chain agents. For them, speed is of essential importance for the achievement of profits.
Covalent also emphasized that the compliance functions remain robust even when the API accelerates. The platform generates cryptographic evidence for your API edition, which means that dealers can demonstrably provide potential examiners for their transaction history. The network also supports more than 100 chains and provides data in a uniform format. This means that compliance for platforms that work in different blockchain networks is easier because no separate programs are required for each network.
In the past, on September 7th, Sonic revealed major changes in his tokenomics. The total delaying offer will increase from 4.12 billion to 4.75 billion Sonic tokens, with a large part of the new tokens increasing Sonic’s partnerships. At the same time, the network expands its combustion mechanism and creates a deflation print.
For more information on Sonic and its recent updates, visit https://crypto.news/sonic-crypto-price-sees-bullish-momentum-but-crypto-market-downturn-erases-gains/
