One of the world’s leading cryptocurrency exchanges Binanceinformed investors about projects with similar names. Binance on its platform Sonic (S) and Sonic SVM He made a detailed explanation about two different altcoins named (SONIC). The exchange emphasized that the altcoin projects in question are not the same and serve different purposes.
Differences Between Sonic (S) and Sonic SVM (SONIC)
According to Binance, Sonic (S) is an EVM-based Layer-1 protocol that offers attractive incentives and strong infrastructure to developers. In the past Phantom This project, known as (FTM), was recently rebranded as Sonic (S). Sonic (S) is listed on Binance in both spot and futures trading.
On the other hand, Sonic SVM (SONIC) is the first game and application-focused platform developed on the Solana Blockchain. altcoin project. This project attracts attention especially with its TikTok application layer. Binance highlighted that Sonic SVM (SONIC) is listed on futures only.
Binance stated that there may be confusion among users because the two projects have similar names. The exchange announced that it added explanatory labels to the transaction pages of both projects to prevent such misunderstandings.
Tagged Trading Pages for Investors
Binance has developed the Sonic (S) and Sonic SVM (SONIC) projects so that users can make their transactions more securely. transaction pagesorganized separately. While Sonic (S) is available to users in both spot and futures transactions, Sonic SVM (SONIC) is traded only in futures transactions.
Binance invited investors to learn more about the projects and be careful when trading. The cryptocurrency exchange stated that it has taken all the necessary steps on its platform to enable users to make conscious investments.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
