Sonic Labs, the company behind the Sonic (ex-Fantom) blockchain, has announced plans to move approximately 13 000 000 S as part of a strategic over-the-counter agreement with an unnamed partner.
In a statement published on its official X account, Sonic Labs said the transfer of funds will take place within the next 24-48 hours and will be carried out with the participation of a long-term partner, who is expected to help the network reach users within the counterparty's existing network.
Meanwhile, the project disclosed information about the upcoming token movement before it appears on the blockchain, telling holders that this announcement is intended to identify the transaction once it becomes visible in the blockchain records.
At a price of $0.053035 on October 22, the proposed transfer of 13 million tokens has an estimated market value of approximately $689455. The calculation is based on the current market quote, not on the announced deal amount or a confirmed sale price.
This amount represents approximately 0.33% of the stated circulating supply of S tokens of 3,885 billion. Since this concerns a proposed transfer of existing tokens, the announcement itself does not imply a new issuance or dilution of capital.
In its August strategic review, Sonic's leadership discussed negotiations with investors from Asia, the Middle East, Europe, and North America. Potential agreements included network validation, market access, and distribution, with partners expected to facilitate the commercial development of the ecosystem.
Earlier, in May 2025, Sonic completed a strategic sale of S tokens to Galaxy worth $10 million to support its expansion in the United States. However, the latest statement contains no indication that Galaxy is the new counterparty.
Read also:
