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Sonic DEX Volume Rises 17% – But This Signals Likely Trend Reversal
In a shocking turn of events, the decentralized exchange (DEX) volume for Sonic [S] has risen by an astonishing 17%. While this increase may initially seem like a reason to rejoice for investors who have been stuck in a rut, it could be signaling something far more profound – a trend reversal.
As it stands, Sonic’s DEX volume has surged by 16.97% over the past week alone, with the majority of these transactions occurring on decentralized platforms. This sudden spike is not only an encouraging sign but also hints at a growing sense of confidence among traders and investors in this cryptocurrency.
However, when examining the bigger picture, it becomes clear that such a dramatic shift may be nothing more than a temporary blip on the radar. It’s crucial to note that while DEX volume has risen significantly, the majority of holders are still underwater, with an overwhelming 96% stuck in a losing position.
Source: ambcrypto.com
