Sonic Labs has appointed Mitchell Demeter as CEO, just as the S token surged nearly 5% against market trends.
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
Sonic Labs has appointed Mitchell Demeter as its new Chief Executive Officer, marking an important moment for the blockchain company.
The move comes as the network’s native token, S, rallied nearly 5% in the past 24 hours, which defies the broader altcoin market slump.
Sonic Labs has appointed Mitchell Demeter as CEO to drive global growth and deepen institutional partnerships. He will lead efforts to expand the developer ecosystem, strengthen institutional ties, and grow the company’s presence globally and in the U.S. Demeter will also step…
— Wu Blockchain (@WuBlockchain) September 29, 2025
Demeter, best known for launching the world’s first Bitcoin ATM and co-founding one of Canada’s earliest digital exchanges, brings extensive experience bridging blockchain innovation with institutional finance.
“Sonic’s technology is unmatched in speed and scalability, and our mission is to bring that performance directly into institutional finance and global markets,” said Demeter.
The network has already achieved significant milestones since its launch in December 2024, including a Coinbase listing, native USDC issuance, and integration with Chainlink’s CCIP.
However, Sonic Labs acknowledges that institutional backing remains the missing piece needed to propel the blockchain into mainstream adoption.
The S token has surged to $0.2434, supported by a 78.68% spike in trading volume. It recently rebounded from the lower boundary of a falling wedge and now tests the upper resistance line.
Bollinger Bands are tightening, hinting at imminent volatility, while RSI remains neutral at 53.65, suggesting room for further upside. A bullish MACD crossover adds to the case for a breakout.
Immediate resistance lies at $0.26 and $0.29, with failure to hold momentum potentially dragging the token back toward $0.23–$0.22. Sustained volume and positive money flow will be crucial for confirming any lasting uptrend, potentially making S the next crypto to explode.
Previously known as Fantom (FTM), the Sonic (S) community recently saw the approval of a $150 million expansion strategy aimed at breaking into the United States market.
The funds will be used to push for a $50 million ETF initiative, a $100 million investment program, combined with the creation of a Delaware-registered company, Sonic USA. The company will be based in New York.
Andre Cronje, the person responsible for the creation of Sonic, said that the vision for 2025 is “pretty simple” with 90% of the fees directly going to dApps.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
