Sonic Token Surges 7% as CMCC Global Launches $25M Ecosystem Fund

On Sept. 30, the Sonic (S) token recorded a strong 7% price surge, adding more than $50 million to its market capitalization in just one day. The rally comes as venture capital firm, CMCC Global, launched a $25 million fund designed to accelerate growth in the Sonic ecosystem.

The fund, called “Resonance,” targets innovative DeFi protocols and consumer-facing applications on the network. It will also promote Fee Monetization (FeeM) as a sustainable revenue model for smart contract developers.

With the new crypto fund, CMCC Global aims to strengthen liquidity within the Sonic network and capture long-term value.

The announcement triggered a surge of activity in the Sonic market, with 24-hour trading volume soaring 70% to $126 million. At present, S is trading at around $0.26 with a market capitalization of $750 million.

Institutional Interest Fuels Market Optimism

Mitchell Demeter, who just stepped in as Sonic Labs’ new CEO on Sept. 29, expressed confidence in the fund’s impact. He stated that Resonance will provide meaningful backing for builders and innovators within the Sonic ecosystem.

He added that institutional participation suggests a growing recognition of Sonic’s long-term potential.

The milestone comes as the network continues to grow in 2025. Since its debut in December last year, it has already secured major exchange listings, launched native USDC issuance, and integrated with Chainlink’s Cross-Chain Interoperability Protocol (CCIP).

On Aug. 31, Sonic approved a $150 million expansion strategy to accelerate its entry into the United States. The initiative includes a $50 million ETF push and a $100 million investment program.

Sonic (S) Price Shows Signs of Recovery

On the daily S price chart, the RSI has climbed out of oversold territory and is hinting at growing buyer interest. A move above 50 could confirm stronger bullish momentum, with key resistance around $0.28 and $0.33.

Meanwhile, Bollinger Bands show that the price is rebounding from the lower band. This is a sign of potential reversal toward the mid-band resistance (20-day SMA) around $0.28, a level above which S could see further gains.

However, traders looking for a buying opportunity should watch for the support wall around $0.24.

Read original story Sonic Token Surges 7% as CMCC Global Launches $25M Ecosystem Fund by Parth Dubey at Coinspeaker.com

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