Sonic Labs has seen tremendous growth this year, especially after rebranding from Fantom.
In a move that might transform the future of airdrops, the firm has officially opened all its $200 million $S giveaways to United States residents.
The move marks a key milestone for the cryptocurrency market, as few, if any, projects have successfully navigated the complex US regulatory landscape.
Thus, Sonic Labs has spearheaded regulatory shifts in the US, confirming that decentralization and compliance could coexist, especially for projects ready to do the work.
$S token displayed bullishness amid range-bound performance in the crypto space, soaring from $0.4017 to $0.4223 intraday high.
Sonic’s forefront legal breakthrough in the US
Cryptocurrency users in the United States have remained on the sidelines for years as global users celebrated top airdrops.
Stiffer regulatory developments, especially during the previous regimes, limited digital asset undertakings in the United States.
Sonic Labs looks to change that narrative.
While most projects have excluded American participants in airdrops, Sonic’s team has cooperated with legal experts to ensure compliance.
The efforts have yielded fruit as Sonic has passed regulatory scrutiny, now introducing massive crypto giveaways that adhere to US securities policies.
While the announcement didn’t disclose details about the legal structure, insiders say the move involved months of activities, including KYC authentication.
$200M in $S unlocked for US users
Sonic Labs’ airdrop is more than symbolic – it is massive.
United States residents can now access all previous token giveaways, collectively worth approximately $200 million.
The initiative includes retroactive qualification for early adopters and contributors.
US enthusiasts who have remained active in Sonic’s ecosystem, whether through governance participation, developer contributions, or dApps, can now enjoy real value.
Keep in mind that $S powers the Sonic blockchain, offering governance, utility, and staking functions.
The $200 million asset distribution will bolster the network as it invites thousands of previously barred investors.
$S token price outlook
Sonic Labs’ native coin hovers at $0.4191 after gaining over 3.5% in the past 24 hours.
Its soaring trading volume confirms renewed interest in the altcoin, suggesting continued gains in the short term.
$S bulls target an over 85% rally to the key resistance at $0.78.
The hurdle appears crucial as several monthly candlesticks have failed to (decisively) close above it.
Surpassing $0.78 could catalyze bull rallies past the $1 psychological level and extend to $1.24. Broad-based recoveries will extend $S’s revival to $2.
Nevertheless, $S trades below the 50-day EMA on the 4H chart, suggesting selling pressure.
Amplified bearishness could open the path toward the vital support barrier at $0.33, a 27% dip from current prices.
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