Sophon SOPH has experienced a remarkable increase of 10X after its launch and token listing on prominent exchanges such as OKX and Binance. The Ethereum layer-2 solution aims to establish itself as the primary platform for entertainment dApps and has been simplifying the onboarding process.

Despite Bitcoin, Solana, and BNB attracting significant attention in June, Sophon is poised for impressive gains.

Interestingly, this surge occurs amidst a slight decline in the overall crypto market, which has fallen by 1.3% to a total valuation of $3.4 trillion, with meme coins like Dogecoin also experiencing drops.

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SOPH Up 10X After Listing

At the time of reporting, SOPH, the native token, had surged nearly tenfold, outperforming even some leading Solana meme coins. The major growth observed on May 28 requires confirmation. Currently, the token price has stabilized.

Bulls remain optimistic, but a local resistance level at $0.07 needs to be surpassed for buyers to confirm the late May gains.

What Is Sophon?

Sophon operates as an Ethereum layer-2, utilizing zkSync technology and following the Elastic Chain architecture. Its primary objective is to bridge the gap between web2 and web3 while engaging with the vast Ethereum ecosystem.

Interestingly, Sophon eliminates the complexity of traditional wallet setups. Users can connect using familiar credentials like Google or Apple account logins, allowing for the seamless creation of a non-custodial wallet in the background. It also enables gasless transactions through zkSync’s paymaster feature, facilitating an experience similar to web2 without necessitating the holding of SOPH tokens for transactions.

As it launches, Sophon targets entertainment sectors including gambling, ticketing, and sports betting, with its proprietary zkTLS technology aimed at enhancing user privacy. Additionally, the platform employs Sophon AI to provide data and predictions, rewarding users via zkTLS.

Will Sophon Continue Rallying?

Despite Sophon’s ambitious goals to innovate entertainment applications, the SOPH token’s price needs to exceed its May 2025 highs. This requires fundamental factors to stimulate demand, as the momentum currently appears to wane.

The token’s significant surge was attributed to its recent listings and the introduction of various incentives, including a 30 million SOPH ’trade-and-earn’ pool that encouraged buying and holding on OKX.

Moreover, features such as a 5% airdrop bonus for early adopters have attracted participants, contributing to SOPH’s hefty valuation of $0.07 by May 28.

Looking forward, as partnerships expand and further entertainment applications are built on Sophon, the SOPH token could see upward momentum. One significant recent collaboration is with Octane Security, designated as the official partner to provide security review services for developing projects.