The crypto market's recovery has not benefited all altcoins, as some continue to face sharp declines. While Bitcoin holds steady at $102,200, several altcoins remain in a downtrend, struggling to regain momentum.

The former Fantom blockchain rebrands as Sonic, achieving $250M Total Value Locked within days of launch. The platform claims to be the fastest EVM chain with groundbreaking transaction speeds.

The crypto market managed to recover Monday's sharp losses, but the volatility left a lasting impact on several altcoins. Despite the broader market rebound, some tokens failed to recover fully, with the drawdown leaving them vulnerable.

Sonic (S) has been under intense selling pressure for weeks, as large investors—referred to as whales—continue to offload substantial quantities of the token. With a 27.11% drop in price over the past week, market sentiment has become increasingly bearish.