Blockworks: Sonic Labs locks over $1 billion in four months, data reveals its countercyclical growth
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Blockworks: Sonic Labs locks over $1 billion in four months, data reveals its countercyclical growth
Currently, Sonic's daily trading volume has stabilized at around $100 million per day.
Navigating Web3 tides with focused insightsAuthor: Blockworks Research
Translation: TechFlow
@SonicLabs has achieved significant growth since its launch, even amid a bear market.
About four months after launching, the chain surpassed $1 billion in total value locked (TVL).
Trading volume on decentralized exchanges (DEXs) has grown in line with the overall chain.
Daily trading volume is now steadily around $100 million per day.
Several decentralized exchanges have migrated to Sonic, including:
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Shadow Exchange
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SwapX Algebra
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WAGMI
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Metropolis DLMM
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SilverSwap
Among them, Shadow Exchange currently leads with approximately $40 million in daily trading volume.
Interestingly, on Sonic, perpetual futures trading volume exceeds DEX spot trading volume.
Daily perpetuals volume consistently exceeds $100 million.
This is primarily driven by Vertex, which accounts for nearly 100% of the chain's perpetuals market share.
Although still in its early stages, Sonic has already built a sustainable ecosystem thanks to strong capital inflows.
Whether the chain can maintain momentum from its early success will be worth watching.
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