Sonic, an EVM Layer-1 blockchain network, has been gaining ground in the digital asset space.

According to fresh data reported today, Sonic made another milestone by outperforming major crypto projects including Cardano, Sui, Aptos, and Avalanche

In the dynamic landscape of digital assets, Sonic, an EVM Layer-1 blockchain network, has been steadily gaining ground. Focused on delivering a user-friendly and efficient blockchain experience, Sonic has attracted significant attention.

According to fresh data, Sonic has hit another milestone. The platform outperformed major crypto projects including Cardano (ADA), Sui (SUI), Aptos (APT), and Avalanche (AVAX) in terms of TVL / FDV ratio. As per the data, Sonic’s TVL/FDV ratio is higher than those of its competitors. This growth has positioned Sonic as the one of the most valuable blockchain ahead of these rivals.

What is TVL / FDV RATIO?

TVL / FDV ratio compares the TVL in a DeFi protocol to its FDV, offering insights into the potential for growth and whether the project’s valuation is solid or just an illusion. In other words, the lower FDV/TVL ratio, the more undervalued a project. The higher ratio, the more valuation of a project is and more stronger its development.

Looking at the data, Sonic’s TVL / FDV ratio stands at 0.6917, which is higher than its competitors. This not only shows that a lot of money is coming into the platform but also indicates that the project is stronger than others. Its valuation is higher than rivals and therefore has more growth potential than the rest.

Aptos came second with TVL / FDV ratio of 0.2989, making the second best stable and valuable project after Sonic. It was followed by Avalanche, which holds a TVL / FDV ratio of 0.1953. The next is SUI, which registered a TVL / FDV ratio of 0.08256 and lastly, Cardano with 0.01292.

How Sonic leads the market

Despite the ongoing downturn in the wider crypto market, Sonic has defied the sluggishness. Over the past 30 days, the asset became one of the top performers, with its price rising from a low of $0.4556 to $0.5099.

Furthermore, DeFi tokens (including METRO, SHADOW, and meme coins like INDI, GOGLZ, and THC) running on top of Sonic’s Layer-1 blockchain have all registered double gains.

The factors contributing to this growth is Sonic’s extensive innovations in its tech infrastructure, upgrade and development, and token economic models. As per data from DefiLlama, Sonic was the fastest-growing Layer-1 blockchain in terms of TVL last month. Its locked amount grew from $1 million in January to a high of $460 million in February, a growth of over 450%.

Moreover, Sonic become a new driving force in the EVM ecosystem, which cannot be overlooked after its on-chain DEX monthly trading volume surpassed $1 billion.