Sonic unveils high-yield algorithmic stablecoin, reigniting Terra-Luna ‘PTSD’

The Sonic blockchain is working on the implementation of its yield-generating, algorithmic stablecoin despite fears over a potential collapse similar to the Terra-Luna meltdown that led to the industry’s longest crypto winter. Algorithmic stablecoins employ code-based mechanisms to ensure their price stability, as opposed to fiat stablecoins pegged directly to the value of the underlying…

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Why is Bitcoin price stuck?

Bitcoin (BTC) price has been oscillating inside the $82,400-85,300 range since March 14 as breakouts in both directions have been short-lived, as shown below. BTC/USD four-hour price chart. Source: TradingView Key factors behind Bitcoin’s flat price action include: Trade war fears offset pro-Bitcoin news Bitcoin’s price is stuck as bullish and bearish headlines are clashing,…

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  • bitcoinBitcoin (BTC) $ 108,219.00
  • ethereumEthereum (ETH) $ 2,519.44
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.22
  • bnbBNB (BNB) $ 656.68
  • solanaSolana (SOL) $ 147.56
  • usd-coinUSDC (USDC) $ 0.999915
  • tronTRON (TRX) $ 0.283133
  • dogecoinDogecoin (DOGE) $ 0.164459
  • staked-etherLido Staked Ether (STETH) $ 2,517.71
  • cardanoCardano (ADA) $ 0.573981
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 108,162.00
  • hyperliquidHyperliquid (HYPE) $ 39.19
  • wrapped-stethWrapped stETH (WSTETH) $ 3,041.39
  • suiSui (SUI) $ 2.89
  • bitcoin-cashBitcoin Cash (BCH) $ 487.40
  • chainlinkChainlink (LINK) $ 13.22
  • leo-tokenLEO Token (LEO) $ 9.04
  • avalanche-2Avalanche (AVAX) $ 17.87
  • usdsUSDS (USDS) $ 0.999762
  • stellarStellar (XLM) $ 0.238079
  • wrapped-eethWrapped eETH (WEETH) $ 2,698.02
  • the-open-networkToncoin (TON) $ 2.74
  • shiba-inuShiba Inu (SHIB) $ 0.000011
  • litecoinLitecoin (LTC) $ 87.36
  • wethWETH (WETH) $ 2,519.07
  • hedera-hashgraphHedera (HBAR) $ 0.153664
  • whitebitWhiteBIT Coin (WBT) $ 45.29
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999955
  • moneroMonero (XMR) $ 315.52
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 108,204.00
  • bitget-tokenBitget Token (BGB) $ 4.40
  • polkadotPolkadot (DOT) $ 3.35
  • uniswapUniswap (UNI) $ 7.37
  • aaveAave (AAVE) $ 273.20
  • pepePepe (PEPE) $ 0.000010
  • daiDai (DAI) $ 0.999858
  • pi-networkPi Network (PI) $ 0.459311
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • okbOKB (OKB) $ 48.79
  • bittensorBittensor (TAO) $ 321.31
  • aptosAptos (APT) $ 4.42
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • nearNEAR Protocol (NEAR) $ 2.14
  • jito-staked-solJito Staked SOL (JITOSOL) $ 179.23
  • internet-computerInternet Computer (ICP) $ 4.77
  • crypto-com-chainCronos (CRO) $ 0.081014
  • ethereum-classicEthereum Classic (ETC) $ 16.38
  • ondo-financeOndo (ONDO) $ 0.780667
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 0.999847
  • kaspaKaspa (KAS) $ 0.074781
  • fasttokenFasttoken (FTN) $ 4.45
  • mantleMantle (MNT) $ 0.564004
  • gatechain-tokenGate (GT) $ 15.30
  • cosmosCosmos Hub (ATOM) $ 4.01
  • vechainVeChain (VET) $ 0.020557
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.658073
  • official-trumpOfficial Trump (TRUMP) $ 8.55
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 108,096.00
  • tokenize-xchangeTokenize Xchange (TKX) $ 20.62
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.181952
  • render-tokenRender (RENDER) $ 3.16
  • skySky (SKY) $ 0.076196
  • arbitrumArbitrum (ARB) $ 0.327130
  • ethenaEthena (ENA) $ 0.254419
  • quant-networkQuant (QNT) $ 107.49
  • filecoinFilecoin (FIL) $ 2.25
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,519.90
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.46
  • algorandAlgorand (ALGO) $ 0.174030
  • bonkBonk (BONK) $ 0.000019
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998951
  • worldcoin-wldWorldcoin (WLD) $ 0.868281
  • usdtbUSDtb (USDTB) $ 0.999864
  • sei-networkSei (SEI) $ 0.262570
  • kucoin-sharesKuCoin (KCS) $ 11.03
  • binance-staked-solBinance Staked SOL (BNSOL) $ 156.39
  • usdt0USDT0 (USDT0) $ 1.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.436202
  • nexoNEXO (NEXO) $ 1.24
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,640.14
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,870.05
  • fartcoinFartcoin (FARTCOIN) $ 1.18
  • flare-networksFlare (FLR) $ 0.016636
  • spx6900SPX6900 (SPX) $ 1.23
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • celestiaCelestia (TIA) $ 1.49
  • injective-protocolInjective (INJ) $ 10.55
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.016273
  • xdce-crowd-saleXDC Network (XDC) $ 0.062565
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.55
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999995
  • sonic-3Sonic (S) $ 0.307716
  • blockstackStacks (STX) $ 0.640010
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,694.85
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,645.45
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • pax-goldPAX Gold (PAXG) $ 3,343.95
  • bitcoinBitcoin (BTC) $ 108,219.00
  • ethereumEthereum (ETH) $ 2,519.44
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.22
  • bnbBNB (BNB) $ 656.68
  • solanaSolana (SOL) $ 147.56
  • usd-coinUSDC (USDC) $ 0.999915
  • tronTRON (TRX) $ 0.283133
  • dogecoinDogecoin (DOGE) $ 0.164459
  • staked-etherLido Staked Ether (STETH) $ 2,517.71
  • cardanoCardano (ADA) $ 0.573981
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 108,162.00
  • hyperliquidHyperliquid (HYPE) $ 39.19
  • wrapped-stethWrapped stETH (WSTETH) $ 3,041.39
  • suiSui (SUI) $ 2.89
  • bitcoin-cashBitcoin Cash (BCH) $ 487.40
  • chainlinkChainlink (LINK) $ 13.22
  • leo-tokenLEO Token (LEO) $ 9.04
  • avalanche-2Avalanche (AVAX) $ 17.87
  • usdsUSDS (USDS) $ 0.999762
  • stellarStellar (XLM) $ 0.238079
  • wrapped-eethWrapped eETH (WEETH) $ 2,698.02
  • the-open-networkToncoin (TON) $ 2.74
  • shiba-inuShiba Inu (SHIB) $ 0.000011
  • litecoinLitecoin (LTC) $ 87.36
  • wethWETH (WETH) $ 2,519.07
  • hedera-hashgraphHedera (HBAR) $ 0.153664
  • whitebitWhiteBIT Coin (WBT) $ 45.29
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999955
  • moneroMonero (XMR) $ 315.52
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 108,204.00
  • bitget-tokenBitget Token (BGB) $ 4.40
  • polkadotPolkadot (DOT) $ 3.35
  • uniswapUniswap (UNI) $ 7.37
  • aaveAave (AAVE) $ 273.20
  • pepePepe (PEPE) $ 0.000010
  • daiDai (DAI) $ 0.999858
  • pi-networkPi Network (PI) $ 0.459311
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • okbOKB (OKB) $ 48.79
  • bittensorBittensor (TAO) $ 321.31
  • aptosAptos (APT) $ 4.42
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • nearNEAR Protocol (NEAR) $ 2.14
  • jito-staked-solJito Staked SOL (JITOSOL) $ 179.23
  • internet-computerInternet Computer (ICP) $ 4.77
  • crypto-com-chainCronos (CRO) $ 0.081014
  • ethereum-classicEthereum Classic (ETC) $ 16.38
  • ondo-financeOndo (ONDO) $ 0.780667
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 0.999847
  • kaspaKaspa (KAS) $ 0.074781
  • fasttokenFasttoken (FTN) $ 4.45
  • mantleMantle (MNT) $ 0.564004
  • gatechain-tokenGate (GT) $ 15.30
  • cosmosCosmos Hub (ATOM) $ 4.01
  • vechainVeChain (VET) $ 0.020557
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.658073
  • official-trumpOfficial Trump (TRUMP) $ 8.55
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 108,096.00
  • tokenize-xchangeTokenize Xchange (TKX) $ 20.62
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.181952
  • render-tokenRender (RENDER) $ 3.16
  • skySky (SKY) $ 0.076196
  • arbitrumArbitrum (ARB) $ 0.327130
  • ethenaEthena (ENA) $ 0.254419
  • quant-networkQuant (QNT) $ 107.49
  • filecoinFilecoin (FIL) $ 2.25
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,519.90
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.46
  • algorandAlgorand (ALGO) $ 0.174030
  • bonkBonk (BONK) $ 0.000019
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998951
  • worldcoin-wldWorldcoin (WLD) $ 0.868281
  • usdtbUSDtb (USDTB) $ 0.999864
  • sei-networkSei (SEI) $ 0.262570
  • kucoin-sharesKuCoin (KCS) $ 11.03
  • binance-staked-solBinance Staked SOL (BNSOL) $ 156.39
  • usdt0USDT0 (USDT0) $ 1.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.436202
  • nexoNEXO (NEXO) $ 1.24
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,640.14
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,870.05
  • fartcoinFartcoin (FARTCOIN) $ 1.18
  • flare-networksFlare (FLR) $ 0.016636
  • spx6900SPX6900 (SPX) $ 1.23
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • celestiaCelestia (TIA) $ 1.49
  • injective-protocolInjective (INJ) $ 10.55
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.016273
  • xdce-crowd-saleXDC Network (XDC) $ 0.062565
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.55
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999995
  • sonic-3Sonic (S) $ 0.307716
  • blockstackStacks (STX) $ 0.640010
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,694.85
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,645.45
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • pax-goldPAX Gold (PAXG) $ 3,343.95