Sonic (S) Approves $150M Token Issuance for Groundbreaking US ETF Goals
Sonic S $0.30 24h volatility: 4.9% Market cap: $980.41 M Vol. 24h: $108.68 M , formerly known as Fantom, has taken a bold step toward institutional adoption after its community voted overwhelmingly in favor of a $150 million expansion strategy aimed at breaking into the United States market.
The proposal, backed by 99.99% of participants, will fund a $50 million ETF initiative, a $100 million investment program, and the creation of a Delaware-registered company, Sonic USA, based in New York City.
A Strategic Break From Old Tokenomics
The move marks a decisive shift from Sonic’s “2018 tokenomics,” under which the Fantom Foundation distributed most of its token supply to the community, leaving itself with just 3% at launch.
While this approach showed its community-first reputation, it also left the foundation unable to fund exchange listings, acquisitions, and strategic partnerships.
By issuing 150 million new S tokens, Sonic now seeks to level the playing field with competitors that usually control 50%–90% of their supply.
Launching an ETF
The plan includes launching a US-regulated ETF through a provider with over $10 billion in assets under management, with custody handled by BitGo.
A private investment in public equity (PIPE) structure will lock S tokens for three years in exchange for strategic treasury purchases, bolstering institutional confidence.
On-chain, Sonic will also revise its fee mechanisms to burn more tokens, responding to long-standing community calls for deflationary pressure.
The nearly unanimous vote, 860.6 million in favor versus just 51,200 against, signals overwhelming community support for Sonic’s pivot toward institutional-grade finance.
Price Analysis: S Token Consolidates Ahead of Breakout
At the time of writing, S is trading around $0.31, consolidating within a symmetrical triangle pattern visible on the daily chart. Bollinger Bands are tightening, suggesting an imminent volatility spike.
A breakout above resistance at $0.34-$0.35 could open the path toward $0.42, with a stronger push potentially targeting $0.50 if momentum builds around ETF progress.
However, a failure to hold support near $0.29 risks a retest of $0.26, with further downside toward $0.22 if selling pressure intensifies.
S token’s price chart as of September 1st. | Source: TradingView
Meanwhile, the RSI sits near 47, showing no strong momentum bias, while the MACD hovers close to the signal line, awaiting a decisive move.
The Chaikin Money Flow (CMF) at –0.01 suggests subdued capital inflows, reinforcing the idea of a coiled market awaiting direction.
With community approval secured and a roadmap focused on US market penetration, traders should watch the $0.34-$0.35 resistance closely, as S could very well be the next crypto to explode.
nextThe post Sonic (S) Approves $150M Token Issuance for Groundbreaking US ETF Goals appeared first on Coinspeaker.
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