Sonic ranks #56 of 508 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #192: 136 of the 191 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 190 non-native assets CoinSpectrum lists above it by market cap, about 51% are claims on other assets, 43% are tokens and 6% are memecoins.
| CoinSpectrum Grade | C · 59/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #56 |
| Rank counting claims | #192 |
| Market capitalisation | $180M |
| Price | $0.0462 |
| Circulating supply | 3,885,497,663 S |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Lachesis (aBFT) |
| Network purpose | Smart-contract platform |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
C — 59 out of 100, provisional (from 15 of 17 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 52 to 65 (C to B).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 9.1 | group average |
| Consensus: leader ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards | 5.4 | group average, 4 of 6 measured |
| Properties (10 whitepaper checks) (Source) | 3 | 3 of 10 passed source |
| Anyone can mint (permissionless) | ✗ | Lachesis (aBFT) |
| Limited supply | ✗ | an issuer or vote can mint outside the schedule |
| No pre-issuance or developer mint | ✗ | |
| No developer tax | ✗ | |
| No authority that can halt the chain or freeze funds | ✓ | No protocol key can freeze native S; the SFC staking contract and network rules change through Sonic Labs upgrades, but no freeze or halt power is documented. |
| No central team | ✗ | The sonic client (LGPL-3.0, 0xsoniclabs/sonic) is developed by Sonic Labs, which sets the protocol roadmap. |
| Fees under one cent | ✓ | typical fee $0.00005 |
| Payments safe to accept within seconds | ✓ | Lachesis aBFT finalises blocks in about a second, with no re-orgs after finality. |
| UTXO ledger | ✗ | |
| Privacy built into the protocol | ✗ | |
| Scalability (fees, throughput, block time, block space) | 5 | average of 2 measures source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00005 |
| Throughput (1,000 transactions a second or more 10) | – | not yet measured |
| Block time (10 minutes 10, less either side) | 0 | a block every 1 second |
| Block space per 10 minutes (32 MB or more 10) | – | not yet measured |
| Security (9 checks) | 5 | 5 of 9 passed source |
| Miners paid over $1 million a day | ✗ | not mined |
| Miners paid over $100,000 a day | ✗ | |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✗ | not mined |
| Largest pool or validator under 50% | ✓ | 12.5% |
| Largest three under 75% | ✓ | 29.5% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | The sonic client (LGPL-3.0, 0xsoniclabs/sonic) is developed by Sonic Labs, which sets the protocol roadmap. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 160,000 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Decentralisation: who can mint (Source) | 8.6 | Proof of stake: 8.6 of 10 on the ladder of who produces blocks |
| Decentralisation: nodes (Source) | — | Not yet counted |
| Decentralisation: holder concentration (Source) | — | Not yet measured |
| Capabilities (protocol features) | 0 | 0 of 6 passed, 1 not yet measured source |
| Decentralisation | ||
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | sonicd relays transactions directly. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No light-client protocol; wallets trust RPC servers. |
| Scalability | ||
| Pruned nodes: a full node can validate and drop old history | – | Read-only and archive node modes exist; pruning of old blocks not documented in the sources checked. |
| Native payment channels or instant payments | ✗ | No payment channels. |
| Security | ||
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential transactions. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | No sender or receiver hiding. |
| Issuance | 3.5 | group average |
| Premine (allocated at launch) | 0.3 | 97.5% of today's supply allocated at launch to founders, a company, a foundation or investors. All S apart from the scheduled ecosystem mint was issuer-created: 3.175B issued 1:1 for FTM (whose whole supply, including the block-reward reserve now paying validators, was allocated by the Fantom Foundation), plus the 190.5M airdrop mint and the 472.4M governance mint (Sep 2025). Only the ~95M of yearly ecosystem mints is now scored as a block-reward cut: (3.885B − 0.095B) / 3.885B ≈ 97.5%. source |
| Fundraising | 0.3 | Sold by its issuer or insiders: 97.5% of supply was theirs to sell, 32.2% sold so far. Fantom's 2018 seed, private and public sales sold ~1.23-1.27B FTM (38.9-40% of 3.175B; ~$39.65M), carried 1:1 into S at the Sonic migration. ~1.25B / 3,885,497,663 S (CoinGecko total, 2026-10-24) = 32.2% (range 31.7-32.7%); any 2025 sales from the governance mint are not established and are excluded. Fantom's 2018 token sale sold about 40% of 3.175B FTM for about $39.65M across private and public rounds (CoinCarp lists private rounds of $25M and $13M, a $2M ICO and a $1.6M seed); investors included Hyperchain Capital, Signum Capital, Arrington XRP Capital and Bibox Fund. source |
| Developer share (after launch) | 9.8 | Developer share: about 2.5% of today's supply received so far; 40.5% of each new block reward goes to them today. Validators are paid ~70M S a year from Fantom's reallocated block-reward reserve (no new mint for four years), while 47,625,000 S a year are minted for six years from 18 June 2025 into the ecosystem vault run by Sonic Labs, with unused tokens to be burned. That is 47.625 / (70 + 47.625) = 40.5% of today's reward stream. Two yearly mints so far ≈ 95.25M = 2.5% of ~3.885B (upper bound: burns of unused tokens not verified). The 190.5M airdrop mint and the 472.4M governance mint of 4 Sep 2025 are discretionary, so premine. source |
| Supply & Demand | 6 | group average |
| Supply & Demand (Source) | 6.8 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 44 exchanges |
| Volume rank among the top 200 | 3 | $5,542,237 traded in 24 hours; #141 by volume on the exchanges the site reads (ranked on the median day of the last 30, $10,272,811) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 9.8 | 5.6% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 9.3 | $1,138,583 within 2% of the price on 9 exchanges, 0.63% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 5.6 | $180M, 5.6 on a scale of 2.5 points per tenfold |
| Futures exposure (open interest ÷ market cap, less is better) | 3 | perpetual open interest 10% of its market cap |
| Supply (smaller is better) | 5.2 | no fixed maximum; 3.89 billion in circulation |
| Record | 9 | group average |
| Record (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
| Age (years since genesis) (Source) | 7 | 7 full years since 2019-06-11, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 10 | 4 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 972 commits in 12 of the last 12 months (github.com/0xsoniclabs/sonic); sonic v2.2.5 released 2026-10-07 (v2.2.6-rc.3 2026-10-23). |
| Shipped a security fix in two years, +1 | ✓ | v2.1.2, Nov 2025: critical security improvements; v2.1.6, Mar 2026: CVE patches. |
| Shipped a new capability for users in two years, +1 | ✓ | v2.1.2 network upgrade, 3 Nov 2025: native fee subsidies and Pectra compatibility. |
| Token issuance at protocol level, validated by its own nodes, +2 | ✓ | ERC-20 contracts on its EVM, open to any account. |
| Not yet researched | ||
| Shipped a scaling upgrade in two years | – | |
Seventeen criteria, weighted equally. The Cryptocurrency Standards group four parts: properties (ten checks drawn from the Bitcoin whitepaper), scalability (four measures), security (nine checks) and decentralisation (three scales). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
3,885,497,663 S are in circulation, against no fixed cap — issuance has no defined end.
| Premine (allocated at launch) | 97.5% of today's supply |
|---|---|
| Sold by the issuer or insiders | 32.2% of today's supply |
| Developer share received since launch | 2.5% of today's supply |
| Developer share of new coins today | 40.5% |
| Fundraising | Private or venture funding |
All S apart from the scheduled ecosystem mint was issuer-created: 3.175B issued 1:1 for FTM (whose whole supply, including the block-reward reserve now paying validators, was allocated by the Fantom Foundation), plus the 190.5M airdrop mint and the 472.4M governance mint (Sep 2025). Only the ~95M of yearly ecosystem mints is now scored as a block-reward cut: (3.885B − 0.095B) / 3.885B ≈ 97.5%.
Fantom's 2018 token sale sold about 40% of 3.175B FTM for about $39.65M across private and public rounds (CoinCarp lists private rounds of $25M and $13M, a $2M ICO and a $1.6M seed); investors included Hyperchain Capital, Signum Capital, Arrington XRP Capital and Bibox Fund.
Fantom's 2018 seed, private and public sales sold ~1.23-1.27B FTM (38.9-40% of 3.175B; ~$39.65M), carried 1:1 into S at the Sonic migration. ~1.25B / 3,885,497,663 S (CoinGecko total, 2026-10-24) = 32.2% (range 31.7-32.7%); any 2025 sales from the governance mint are not established and are excluded.
Validators are paid ~70M S a year from Fantom's reallocated block-reward reserve (no new mint for four years), while 47,625,000 S a year are minted for six years from 18 June 2025 into the ecosystem vault run by Sonic Labs, with unused tokens to be burned. That is 47.625 / (70 + 47.625) = 40.5% of today's reward stream. Two yearly mints so far ≈ 95.25M = 2.5% of ~3.885B (upper bound: burns of unused tokens not verified). The 190.5M airdrop mint and the 472.4M governance mint of 4 Sep 2025 are discretionary, so premine.
Sources: icodrops.com · dropstab.com · forklog.com · coingecko.com · docs.soniclabs.com · theblock.co. Researched 2026-10-24, medium confidence.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Sonic is #56 among cryptocurrencies and #192 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 136 places between Sonic's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).
See the 3 wrapped and staked claims on Sonic →