When comparing Layer-1 Sonic (formerly known as Fantom) to Cardano, crypto analysts may quickly conclude that one of these projects is significantly undervalued in comparison to the other. Let’s dive in and take a closer look!
Since its rebrand in January of this year, André Cronje’s Layer-1 blockchain, formerly known as Fantom ($FTM), Sonic ($S) has been on quite a ride. While the token’s price took a lot of damage along with the rest of most altcoins these last few months, the Sonic team hasn’t been sitting still. The chain has been getting more and more attention lately, even being compared to the well-known and established big Cardano.
“Sonic just crossed $1B in DEX volume. $200k MC with $200k liquidity. ranked #16 by TVL across all chains” – aixbt on X
Credits: DeFiLlama
Sonic versus Cardano
This week, Sonic surpassed Cardano in TVL (Total Value Locked) and is now approaching other giants like Optimism, Hyperliquid and Aptos. Sitting around five places above Cardano, a top 10 coin, is already an achievement they can be proud of. Here are some interesting statistics comparing the two:
- Sonic TVL – 460 Million
- Cardano TVL – 360 Milion
- Sonic App Revenue – 100k per day
- Cardano App Revenue – 2k per day
- Sonic TPS (Max Transactions per Second) ranking – #1
- Cardano TPS ranking – #48
- Sonic FDV – 1.77 Billion
- Cardano FDV – 35.38 Billion
Momentum for Sonic
It seems Sonic has gained new momentum after its rebrand, and is gearing up nicely for altseason. With Cardano’s FDV being 20 times higher, crypto enthusiasts might argue that Sonic is significantly undervalued in comparison. However, Sonic must first prove themselves under greater demand, as said by André Cronje:
“Nice. However, even if you have a vehicle that can drive 750mph, if you don’t take it out for a spin, kinda pointless. We have the capacity, now we build the demand”
Could Sonic catch up and join Cardano among other giants? Time will tell where the crypto world takes it!
