The newly rebranded layer-1 blockchain Sonic (S) is being called the “golden standard” of layer-2s (L2s) by Andre Cronje, the project's co-founder. Cronje claims on the social media platform X that Sonic, formerly known as Fantom, is the “only actual decentralized stage 3 L2.

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 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.