By Brenda Collins
Latest update says that a new rival named Sonik Coin has surfaced amid a lingering pessimistic trend in the cryptocurrency market, grabbing the interest of both investors and enthusiasts. Report says that the Sonik Coin has managed to raise more than $350,000 during its ongoing presale, reigniting interest in the cryptocurrency industry amid low investor morale
Market watchers revealed that top cryptocurrency market pioneers, including Ethereum and Bitcoin, are currently struggling to maintain their prices amid the -22% and -20% loss (respectively) recorded in the previous month. According to reports, users who bought SONIK tokens are eligible to obtain Annual Percentage Yields (APYs) of up to 4,000%, a figure that has shocked many industry stakeholders in the cryptocurrency industry.
Nick Dunn, a cryptocurrency Journalist with Tech Report, explained that the token distribution demonstrates a calculated strategy for avoiding potential rug pulls, a problem that has dogged several other cryptocurrency projects. However, Sonik Coin is even more committed to fostering a passionate and active user base because it has set aside 40% of its token supply for rewarding Stakers.
XRP, on the other hand, dropped by over 44% from the top, which introduced a new era of price instability that triggered a major panic sale in the XRP community, thus reducing the investor’s confidence. Evidence of a bullish recovery in major digital assets was seen in the 4% upward movement in XRP on the 23rd of August. This move has started resonating with investor’s confidence, as seen in other digital assets.
Sonik Coin Gains New Popularity Amongst Traders, Cryptocurrency Community Reacts
Sonik Coin’s ongoing presale event has received a surprising reaction, and the project has now raised over $350,000. Update on the presale says that it was manned by a well-balanced mechanism that governs the allocation of tokens the presale, with 50% going to participants, 40% to staking incentives, and 10% to assuring exchange liquidity.
The opportunity to purchase Sonik Coin at its introductory price of $0.000014 per token has attracted investors. This pricing method is believed to increase the possibility of major growth as the project develops. According to the whitepaper, Sonik Coin wants to grow by 100X. Meanwhile, this objective has sparked enthusiasm and skepticism in the cryptocurrency community.
Previous articles on Tech Report described Sonik as a project with the ambition to build a significant and inclusive ecosystem that can accommodate a variety of players. They said that journey is underscored by the total token supply of 299,792,458,000 SONIK tokens.
Investor’s Hope Rekindled, As Cryptocurrency Community Greeted By Limited Window
Reports gathered on the recent headline says that discussions on online forums and social media platforms have been sparked by the project’s distinctive combination of community interaction, branding that draws inspiration from memes, and aggressive growth ambitions. The report has it that the ongoing presale has 13 days left.
Thus, the cryptocurrency community has a limited window of time to lock in their investment in Sonik Coin. Dunn explained that investors are now excitedly delving into the complexities of this meme-inspired digital asset because of Sonik Coin’s quick rise in funding. Also, the huge Annual Percentage Yields (APY) that are being provided to early adopters has been pointed out as one of the main causes fostering this enthusiasm.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.