SINGAPORE, April 28, 2025 /CNW/ — As Layer 2 scaling solutions remain a focal point of industry discourse, Sonic presents a fundamental shift in blockchain architecture. HTX Research has announced the release of its latest report, “Sonic: A Model for the New DeFi Paradigm” The report dives into the details of the Sonic public chain.

Sonic’s Evolution: 2000+ TPS, 0.7s Confirmation, Near-Zero Fees

The Fantom Opera blockchain, initially recognized for its speed and throughput as a high-performance aDAG-based Layer 1 solution, encountered scalability limitations as its ecosystem expanded. Its traditional EVM architecture struggled with bloated state storage, slow node synchronization, and execution bottlenecks. To overcome these challenges without resorting to sharding or Layer 2 solutions, Fantom developed Sonic — a fundamental redesign engineered to deliver a significant performance leap.

Sonic Labs, a new team led by CEO Michael Kong, CTO Andre Cronje (founder of Yearn Finance), and Chief Research Officer Bernhard Scholz, dedicated two and a half years to the redesign of Fantom’s virtual machine, storage, and consensus. They built Sonic, a new, independent EVM-compatible chain capable of processing over 2,000 TPS, achieving 0.7-second finality, and executing transactions at a cost of $0.0001. It also improves storage efficiency by 90% and reduces node synchronization time from weeks to under two days.

Technical Innovations Driving Sonic’s Performance

Sonic’s enhanced performance is underpinned by three core technological advancements: 

• SonicVM: A newly developed virtual machine fully compatible with the EVM, SonicVM optimizes computationally intensive operations like SHA3 hashing, pre-analyzes jump instructions, delivers significantly faster execution, and supports high throughput.
  
• SonicDB: Achieving nearly 90% data compression, SonicDB uses a layered storage strategy that splits the blockchain state into two databases: LiveDB for the current global state and ArchiveDB for historical blocks and states. This reduces node requirements and enhances network resilience through greater decentralization.
  
• Sonic Gateway: Functioning like an “L2-like” bridging solution to Ethereum, it uses a batch processing mechanism that strikes a balance between security and efficiency, enabling seamless two-way asset transfers and ecosystem access.

Stablecoin Ecosystem: Nested Yield and Resilient Growth

Defying market trends in 2025, Sonic’s on-chain Total Value Locked (TVL) surged by over 500%, with the total stablecoin supply surpassing $260 million. This growth is driven by sophisticated high-leverage yield mechanisms.

• Silo v2 Loop Lending: Use staked S tokens to borrow stablecoins, achieving up to 20x exposure to capture combined incentives alongside stable yield spreads.
• Euler + Rings Protocol Combo: Deposit USDC to mint scUSD, then use leverage to potentially achieve up to 10x yield, along with Sonic points and protocol rewards.
• Shadow DEX Liquidity Provision for Rewards: By facilitating trading activity, particularly with the S/stS pair on Shadow, users can earn up to 169% APY and a share of trading fees.

Looking ahead, the ecosystem will incorporate Real World Asset (RWA) yields and off-chain payment solutions to create a sustainable and widely used stablecoin ecosystem backed by compliant assets and real-world applications.

Conclusion: Sonic – Leading the Charge in DeFi 2.0

Sonic’s high performance, nested yields, and accessibility position it for rapid growth, with the potential to exceed $2B TVL and a multi-billion $S token market cap within a year. More importantly, Sonic is championing an “efficiency revolution” in blockchain design—prioritizing performance and capital efficiency to attract liquidity.

The report identifies technical challenges, including the adaptive AMM’s reliance on external oracles, which introduces potential vulnerabilities. Furthermore, the inherent risks of high-leverage strategies in volatile markets necessitate the use of hedging instruments, such as short perpetual futures, to mitigate potential liquidations.

From a broader view, Sonic is well-positioned to lead the expected 2025 DeFi resurgence. Its thriving stablecoin ecosystem boosts the value of both the $S token and the network. Even in a bear market, Sonic demonstrates the potential for DeFi to establish resilient “yield havens” through innovation and performance. With its nested yields, developer-focused incentives, and efficient infrastructure, Sonic provides a model for the industry. The integration of RWAs and payment tools could place Sonic as a critical bridge between on-chain yields and real-world utility, driving DeFi toward mass adoption

For full report, please visit: https://square.htx.com/wp-content/uploads/2025/04/HTX-Research-Latest-Report-1-1.pdf

About HTX Research

HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends.

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SOURCE HTX

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DUBAI, UAE, April 25, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, and the first mainstream cryptocurrency exchange to incorporate Gold & FX trading on its trading platform, is thrilled to introduce the Gold & FX Referral Program as Gold price skyrockets. This exclusive offer is available to eligible Bybit users only, with up to 10,000 USDT in bonuses available for top referrers.

In April 2025, Gold prices surpassed $3,500 per ounce for the first time in history, soaring by 42% year-on-year. Despite brief corrections, the oldest safe haven asset’s price growth continues to seem unstoppable as macroeconomic uncertainty intensifies. Live since August 2024, Bybit’s Gold & FX trading volumes also hit an all-time-high — exceeding $24 billion over a 24 hour period on April 17, 2025.

To help traders capture the momentum, Bybit has unlocked a total 180,000 USDT prize pool for Gold and FX traders from now until 10AM UTC, May 22 on a first-come, first-serve basis. Eligible referrers may register at the campaign page to join the referral mania, refer friends to make a first-time deposit and trade Bybit’s MT5 platform to win rewards:

• Referrers can each earn up to 10,000 USDT if their successful referees make an eligible first-time deposit and trade the minimum required number of lots.
• Referees shall automatically qualify for zero fees when trading the following indices with MT5 on Bybit: DJ30, NAS100, CHINA50, SP500, GER40, US2000, HK50, FRA40, Nikkei225, UK100, EU50, ES35, HKTECH, BVSPX, SA40, SPI200, SGP20 and TWINDEX.

With Gold forecast to reach new heights and Bybit expanding its multi asset class products across its various exchange trading capabilities, more traders are expected to turn to the exchange for access to their comprehensive suite of trading tools, with unique market offerings ranging from trending tokens to global indices. Bybit is committed to leading in user experience and redefining rewards in the crypto trading space.

Restrictions apply. Users may refer to the campaign page for further details.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press 

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Closing out TOKEN2049 Dubai, the party will be hosted at Be Beach, delivering a state-of-the-art audio and visual production experience

DUBAI, UAE, April 25, 2025 /PRNewswire/ — TOKEN2049, the world’s premier crypto conference, has announced a star-studded DJ line-up for AFTER 2049, the official closing event of this year’s highly anticipated Dubai edition. Making his eagerly awaited return to Dubai, legendary Seth Troxler will be headlining the event, alongside iconic German duo Monkey Safari supported by ANONM, Chaleee, Leon (FR), Milam and Mo-Shi. AFTER 2049 will be held on Friday, 2nd May at Be Beach amidst the stunning Dubai marina skyline.

This year’s AFTER 2049 will host 3,000 guests boasting a multi-sensory music experience powered by state-of-the-art, fully spatial 360° production from sound pioneers Polygon Productions. Set to redefine live music experiences through spatial audio technology, the build will combine binaural sound and synchronised lighting to curate an immersive sensory journey unlike anything Dubai has seen before. Polygon Production’s audio technology features L-Acoustics speaker stacks in a circular formation, allowing music to move above, around and through the audience. This technology has already been adopted by the likes of deadmau5 and Katy Perry, and is set to change the face of live music — with AFTER 2049 as its stage.

Headlining AFTER 2049 is none other than Grammy-nominated artist Seth Troxler, a music icon whose influence resonates far beyond the dancefloor. Voted the world’s number one DJ by Resident Advisor and a three-time Mixmag cover star, Troxler has become a defining figure in global electronic music. From his legendary sets at CircoLoco to unforgettable performances at Glastonbury, his career is a masterclass in boundary-pushing creativity.

Alongside Troxler, German duo Monkey Safari known for their deep, melodic sun-soaked beats are definitely crowd favourites. These real-life brothers are no strangers to the global stage,  with iconic sets at Fusion Festival and Awakenings, acclaimed remixes for RÜFÜS DU SOL, and collaborations with electronic legends like Carl Cox. Expect nothing less than pure euphoria as Monkey Safari brings the heat to AFTER 2049.

We are proud to announce our partners for AFTER 2049 Dubai; MEXC: A global exchange known as “Your Easiest Way to Crypto”; Mesh – crypto payments network; 1inch: The seamless cross-chain marketplace; DWF: New Generation Web3 Investor and Market Maker; Meta Earth: Native DID. Modular Power. Limitless Web3; JuCoin: Seamless crypto trading and dApp within an innovative unified ecosystem; WhiteBIT is the largest European cryptocurrency exchange; Fastex – all-in-one Web3 ecosystem: crypto, NFTs, metaverse, payments, blockchain; ADI Foundation’s blockchain empowers governments of emerging markets to transform lives; Fibonacci – your go-to partner for MM and token launches; Tokenize Xchange: Asia’s Leading Digital Exchange; GOC: Tokenizing 100M Olive Trees with Purpose, for Prosperity; WOW.AI – Agentic AI Launchpad; C1 – shaking up Web3—real utility, zero hype, all impact; FLOKI – the meme utility token of the community-powered FLOKI ecosystem; Bitcoin Suisse: the leading Swiss crypto native financial service provider; Morphware AI: Where NVIDIA B200 meets scalable, affordable renewable intelligence; The Bitcoin Everything Chain – Core; AMINA – a Swiss-headquartered global crypto bank with ADGM offices; Bitvavo: The Largest EUR Spot Exchange Globally; Saros DLMM – The Liquidity Layer of Solana; Protect your crypto wealth with Changer – visit changer.ae; Kava: Scaling DeFi and DeAI on a multichain platform; DinarMaker is an innovative stablecoin lending protocol.

Limited tickets to AFTER 2049 are available exclusively on Platinumlist.

For more information and continued updates on TOKEN2049 Dubai, please visit: https://www.dubai.token2049.com/. For any table booking interest on AFTER 2049, please refer to reservations@after2049.com and enquiries can be directed to community@after2049.com.

About TOKEN2049
TOKEN2049 is a global Web3 event series, organised semi-annually in Singapore and Dubai, where decision-makers in the global crypto ecosystem connect to exchange ideas, network, and shape the industry. TOKEN2049 is the preeminent meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those with a strong interest in the crypto and blockchain industry.

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Coinbase platforms to provide fee-free purchases and easy 1:1 redemption of PayPal USD while companies jointly explore new payment use cases

SAN JOSE, Calif., April 24, 2025 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) and Coinbase Global, Inc. (NASDAQ: COIN) today announced an expansion of their partnership to increase the adoption, distribution, and utilization of the PayPal USD (PYUSD) stablecoin. This collaboration will provide value for consumers, enterprises, and institutions as they continue to utilize digital currencies across platforms and borders with the stability of regulated USD-denominated crypto-native assets.

“For years, we’ve worked with Coinbase to enable a best-in-class integration to provide a simple, familiar way for PayPal users to fund crypto purchases on Coinbase. Our objectives aligned further as we deployed PYUSD in combination with our payments expertise enabling greater commerce applications,” said Alex Chriss, President and CEO, PayPal. “We are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center and driving further utility and adoption for digital currencies among developers, customers, and other users.”

This partnership will give Coinbase‘s millions of customers direct access to PYUSD while also enabling the thousands of institutions already using crypto increased utility with PYUSD. Additional details include:

• 1:1 PYUSD to USD conversions– Coinbase users will now be able to buy, sell, trade PYUSD with no platform fees, while also being able to redeem PYUSD 1:1 for US dollars directly on Coinbase platforms.
• Payments related activities – The two companies are committed to collaborating on a variety of innovations that will help accelerate the adoption and utility of stablecoin based solutions for the purposes of moving or managing money around the world, particularly in commerce.
• DeFi exploration – Coinbase and PayPal agree to explore new use cases for PYUSD in DeFi and onchain platforms.

“We’re excited to be partnering with PayPal. Their more than 430 million consumer and merchant accounts offer an unprecedented opportunity to increase stablecoin adoption globally,” said Brian Armstrong, CEO, Coinbase.

This agreement expands on the previous work between the two companies announced in 2021, enabling Coinbase users to use their PayPal accounts for immediate and direct funding of purchases on Coinbase and making withdrawals of fiat currency from Coinbase.

For more information about PYUSD, visit www.paypal.com/pyusd.

About PayPal USD (PYUSD)
PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company. Paxos is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD.

About PayPal:
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.

PayPal, Inc. (NMLS ID #: 910457) is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services.

About Coinbase
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

Contact: Media Relations, mediarelations@paypal.com

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SOURCE PayPal Holdings, Inc.

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Is Ethereum dead? That’s the question some crypto analysts have been asking as ETH struggles to recover from its significant 2024 correction. After dropping more than 56% from its November highs, the Ethereum price level has become a major focus point for investors trying to determine what comes next.

Ethereum Trails Behind Bitcoin and Solana

So far in 2025, Ethereum’s (CRYPTO:ETH) performance has lagged behind that of other major cryptocurrencies. While Bitcoin (CRYPTO:BTC) and Solana (CRYPTO:SOL) have made notable rebounds, Ethereum has struggled to gain traction. ETH has even dropped to its lowest levels against SOL and BTC since 2020.

Cardano (CRYPTO:ADA) founder Charles Hoskinson recently added fuel to the bearish fire. In a YouTube video, he claimed Ethereum wouldn’t last another 15 years, pointing to the rise of faster and cheaper Layer-2 networks like Base, Arbitrum, Optimism, and Polygon. These platforms have eaten into Ethereum’s user base by offering more efficient and affordable transactions.

Key Network Metrics Tell a Different Story

Despite the skepticism, the Ethereum price level alone doesn’t tell the full story. Blockchain data suggests Ethereum still has a solid foundation. Its decentralized exchanges (DEXs) processed over $57 billion in trading volume over the past 30 days, trailing only behind Solana’s $61.3 billion.

Ethereum also leads in Total Value Locked (TVL), with a staggering $107 billion, giving it a 57% market share in decentralized finance (DeFi). Furthermore, Ethereum has the largest stablecoin market cap, totaling $124 billion—about 51% of the market.

Non-fungible token (NFT) activity also remains strong on Ethereum, and its long-term holders seem unfazed by recent price drops. Data from Santiment shows ETH now has over 144.8 million holders, up from 130 million just a few months ago. The Mean Dollar Invested Age (MDIA), now at 658 days, reflects strong conviction among older holders who aren’t rushing to sell.

Ethereum Technical Analysis: What to Watch Now

From a charting perspective, ETH has shown signs of recovery. After bottoming near $1,383 earlier this month, the Ethereum price level has climbed to $1,787—its highest since early April.

Importantly, ETH has broken above the upper trendline of a falling channel that began in November. It’s also crossed the 25-day moving average and appears to be forming a bullish flag pattern—a signal that often precedes further gains.

The Awesome Oscillator, a technical momentum indicator, is approaching the zero line. A break above this threshold has historically signaled bullish momentum. The last time this happened, Ethereum surged over 40%.

The most critical Ethereum price level to monitor right now is $2,150. This was a major support zone in August and September 2024, and it now represents a crucial resistance level. A clean break above $2,150 could set the stage for a rally toward $3,000.

Risks of Rejection at Key Resistance

However, if Ethereum fails to break above $2,150, it could trigger a bearish pattern known as a break-and-retest. This would indicate that the recent rally is losing steam and could lead to further downside—possibly back to the $1,600 level or lower.

The market is at a crossroads, and upcoming developments in the broader crypto sector—particularly Bitcoin’s (CRYPTO:BTC) trajectory and macroeconomic factors—could influence Ethereum’s next move.

Final Thoughts: Is Ethereum Really Dead?

Despite concerns, the data suggests Ethereum is very much alive. Network usage remains strong, investor confidence is intact, and technicals show potential for a breakout. Whether ETH will retest its highs or sink lower depends heavily on whether it can hold above or break through that $2,150 Ethereum price level.

For now, Ethereum is holding its ground—and possibly setting up for its next big move in 2025.

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