1. Technical prowess: Making blockchain as simple as 'online shopping'.
1. Zero threshold operation.
Previously, using blockchain required remembering passwords and paying fees; now using Sophon is like using WeChat.
No need to remember private keys: You can log in with an email or social account.
No gas fees: Most operations are free, occasionally using other tokens (like USDT) for payment.
2. Extremely fast and cheap.
Bitcoin transfers take 10 minutes, while Sophon completes it in seconds, with fees so low they're almost negligible.
Suitable for scenarios requiring high-frequency trading, like games where you need instant healing.
2. Intense speculation: A triple hit of exchanges + leverage + airdrops.
1. Endorsement from Binance.
Launched on Binance Alpha on May 28 (a small exchange for trial), the next day it skyrocketed on OKX, causing an explosion of traffic.
Once it hit the major exchanges, speculators saw: 'This token can be bought!' and the price skyrocketed.
2. Crazy leverage.
Binance launched a 50x leverage contract, turning a $10,000 investment into $500,000; a 10% rise means a 5x profit, causing speculators to frantically increase their positions.
But leverage is a double-edged sword; a 10% drop can lead to liquidation, which can actually push prices up in the short term (traders use this to pump prices).
3. Airdrop temptation.
Early users and zkSync token holders can receive airdrops (free SOPH), everyone is crazy about buying tokens to grab airdrops.
The project deliberately set the rule: 'The more you buy, the more airdrops you get,' and speculators obediently took the bait.
3. High emotions: Bull market + 'the next Arbitrum' filter.
1. Bitcoin sets the pace.
At that time, Bitcoin surged to $110,000, the whole market skyrocketed, anyone could rise, and Sophon benefited.
Master at riding the hype.
The project claims to be the 'TikTok of blockchain', aiming to create games, social interactions, and AI applications, and the speculators are excited: 'This can get popular!'
In reality? Just starting out, but the hype is big enough for the market to respond.
Team halo.
The founder was a core member of zkSync, and big players in the industry are backing it, making speculators think: 'Professional team, it's stable!'
4. Risk warning (for beginners).
Technology may crash: What was promised as 'super fast' could turn into 'super slow'; competitors (like Arbitrum) are also ramping up.
Tokens may crash: The team and early investors hold 25% of the tokens, and if they sell too much over the next three years, the price could collapse.
Leverage is a trap: 50x leverage can rise rapidly but fall even faster; you might wake up to find your investment gone.
Summary.
Sophon’s surge is the result of technical concepts + exchange hype + speculator FOMO.
Beginner advice:
For those who want to play: Avoid leverage, try a little with spare change. For those who don't want to play: Don't get tempted by the price; this wave of heat might lead to a price crash.