Sonic DeFi drain accelerates – Has smart money left the station?
Sonic, a cryptocurrency entity, recently experienced a substantial decline in Total Value Locked (TVL), which dropped by $140 million within 24 hours. This significant withdrawal of liquidity prompted a downward trend in the market, placing pressure on Sonic's price, which subsequently fell by 11.25%. This downturn not only impacted short-term investors, who recorded losses of 3.78%, but also signaled a bearish sentiment across the market, affecting both retail traders and large-scale investors.