Sonic rallies as Bundle Transactions upgrade drives DEX volume to $2.46M

Sonic [S] joined the list of crypto assets to have recorded double-digit percentage gains over the past day, as bullish sentiment and demand have gradually taken hold across the market over the past week.

A blockchain-level development that supports Bundle Transactions could be one of the major contributors to Sonic’s rally.

According to the announcement, this upgrade would cut down the different stages of approval required for transactions. This allows users to group multiple transactions into a “single atomic execution” and process them at once.

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The upgrade drove on-chain activity higher, with transactions across decentralized exchanges pushing DEX volume to one of its highest levels in about two months.

DEX volume surged to over $2.46 million, according to DeFiLlama. This recent high in volume was last recorded roughly two months ago, on the 28th of June.

In fact, the recent surge puts volume more than ten times above its monthly low on the 15th of August, when volume declined to $241,000. Growing volume activity adds to the positive sentiment that has benefited the protocol.

While DEX activity is on the rise, total value locked has barely increased, with a one-day increment of just $770,000.