In the week to 8 September 2026, Sonic's S token rose about 7%. CoinGecko's hourly data puts it at $0.0281 at 13:00 UTC on 1 September and $0.0301 at 13:00 UTC on 8 September. Even after that gain, S was about 97% below its all-time high of $1.029, set on 4 January 2025. Activity on the network did not rise with the price: DefiLlama put Sonic's total value locked (TVL) at $16.5 million that day. Since then the token has gone further. On 25 October 2026 CoinGecko quoted S at $0.0469, about 56% above the 8 September level.
The newest figure: 25 October 2026
- Price: $0.0469 (CoinGecko, updated 25 October 2026, 10:21 UTC).
- Market cap: $182.1 million, rank 185 (CoinGecko).
- Circulating supply: 3,885,497,663 S (CoinGecko).
- Distance from the high: about 95% below the $1.029 high of 4 January 2025.
- Chain TVL: $17.1 million on 25 October 2026 (DefiLlama).
We could not find a verified news event that explains the move from September to October. We have not assigned it a cause.
The week to 8 September 2026
| Measure (CoinGecko unless stated) | Value |
|---|---|
| Price, 1 Sep 2026, 13:00 UTC | $0.0281 |
| Price, 8 Sep 2026, 13:00 UTC | $0.0301 |
| Seven-day change | about +7% |
| Seven-day low | $0.0263 (3 Sep, 01:00 UTC) |
| Seven-day high | $0.0310 (7 Sep, 00:00 UTC) |
| Market cap, 8 Sep 2026, 13:00 UTC | $116.9 million |
| 24-hour trading volume, all venues (daily snapshot, 8 Sep) | $16.3 million |
| Chain TVL, 8 Sep 2026 (DefiLlama) | $16.5 million |
The 30-day view
Between 7 and 9 August 2026, S traded between $0.0217 and $0.0237. At $0.0301 on 8 September, it stood roughly 27% to 39% above that range. We could not pull a single exact 8 August reference price, so treat the 30-day figure as a range.
Sonic (S): price and TVL on the dated points
How did S's price and Sonic's chain TVL move between June and October 2026, on the dates the article gives?
Data table
| Item | USD | Source |
|---|---|---|
| 20 Jun 2026 (The Block, about) | 0.028 | |
| 1 Sep 2026, 13:00 UTC | 0.0281 | |
| 3 Sep 2026, 7-day low | 0.0263 | |
| 7 Sep 2026, 7-day high | 0.031 | |
| 8 Sep 2026, 13:00 UTC | 0.0301 | |
| 25 Oct 2026, 10:21 UTC | 0.0469 |
Data table
| Item | USD | Source |
|---|---|---|
| 20 Jun 2026 | 18,700,000 | |
| 8 Sep 2026 | 16,500,000 | |
| 25 Oct 2026 | 17,100,000 |
These are only the dated points in the article: prices are CoinGecko aggregates (the June price is The Block's rounded figure), TVL is DefiLlama's method only, and the chart shows no cause for any move and no forecast.
Context: what had happened before this week
- Leadership change, 20 June 2026. The Block reported that Andre Cronje, Michael Kong and David Richardson had left the Sonic Labs board. Matt Visser was named CEO and Kosta Kourkoumelis COO. That day The Block put S at about $0.028, roughly 97% below its January 2025 peak.
- TVL far below its peak. DefiLlama records Sonic's TVL peak at $1.14 billion on 9 May 2025. It was $18.7 million on 20 June 2026 and $16.5 million on 8 September 2026. The Block cited about $26 million in June. Trackers measure TVL in different ways, so we use DefiLlama's series throughout.
How S supply grows
Sonic's own documentation describes several sources of new S. They matter for anyone reading price against market cap.
- Ongoing funding: 47,625,000 S issued each year for six years. The first issuance was on 18 June 2025. The network burns any newly issued tokens not used during the year.
- Airdrop: 190.5 million S issued in phases for the airdrop programme. Users who claim before the full 270-day maturation period lose part of their allocation, and that part is burned.
- Institutional expansion: a governance proposal approved $50 million in S for an ETF effort, $100 million in S for a Nasdaq-listed digital asset treasury vehicle and 150 million S for Sonic USA. The first issuance under it was 472,372,662.8 S on 4 September 2025.
- Block rewards: for the first four years, about 70 million tokens a year are redirected to validators from Opera's block rewards, and no new tokens are issued for this. After that, issuance resumes at 1.75% a year.
Staking terms
The documentation sets a target validator reward rate of 3.5% when 50% of S is staked. The rate moves inversely with the staked share: about 1.75% if all S is staked, 7% if 25% is. Unstaking has a 14-day waiting period. Delegated stake can be affected by validator misconduct or setup errors.
What Sonic is
Sonic describes itself as an EVM-compatible layer-1 blockchain with sub-second finality and a claimed throughput of 400,000 transactions per second. The documentation gives no test conditions for that figure. S pays transaction fees and is used for staking, running validators and governance. Through Fee Monetization, developers receive 90% of the network fees their applications generate.
Limitations: prices are CoinGecko aggregates at the times stated, TVL is DefiLlama's methodology only, and the leadership news rests on a single outlet, The Block.
Crypto assets are volatile and you can lose your capital. Nothing here is investment advice.
