Sonic Token Issuance: $150M Don Approve to Fuel US-Regulated ETF
Sonic token issuance get 99.99% community backing for 150 million new S tokens wey dem wan use fund $50 million US-regulated ETF initiative plus $100 million investment program. The Sonic token issuance plan dey reset supply control make e match wit competitors and dem don establish Sonic USA for Delaware with custody by BitGo under three-year PIPE structure. On-chain fee revisions go introduce extra token burns to add deflation pressure. Governance vote see over 860 million S tokens favor, pass 55% quorum requirement. Trading at $0.31, S dey consolidate for symmetrical triangle pattern with resistance at $0.34–$0.35 and support near $0.29. Technical indicators—RSI at 47, MACD near signal line, and CMF at –0.01—show say momentum dey low before volatility spike. Successful ETF launch fit trigger breakout reach $0.42 and $0.50, but if e no hold support, fit drop go $0.26 or $0.22. Traders suppose dey watch the ETF progress well as important catalyst for Sonic next move.
Bullish
The approval of $150 million token issuance wey go back one US-regulated ETF na big step for institutional adoption, e dey mirror past times wey ETF-related developments boost token demand. The near-unanimous vote plus token lock-up structure dey increase credibility among institutional investors. On-chain adjustments to introduce deflationary burns still dey support bullish outlook by addressing supply concerns. Technical consolidation before potential breakout, like before ETF news cycles for crypto markets, show say successful ETF launch fit trigger strong upward move. Short-term, traders fit see more volatility around key resistance levels at $0.34–$0.35. Long-term, sustained institutional involvement plus better tokenomics fit support higher valuation base for S.