The SONAR platform raised only 8% of its target on the first day, indicating a notable lack of market subscription momentum and subdued investor risk appetite. In the short term, the token price faces pressure for a pullback or sideways movement, with increased volatility. It is recommended to monitor the progress of future fundraising and the implementation of community incentive mechanisms. Only if the project team can substantially boost user engagement and accelerate feature rollouts will there be a foundation for mid-to-long-term value recovery. The current strategy should be to remain on the sidelines and await stabilization in fundraising progress and market sentiment before making any moves.

On its first day of token fundraising via SONAR, the cross-chain DeFi platform Infinex only achieved 8% of its target, indicating lukewarm enthusiasm from the market for the platform’s token. The pace of fundraising fell significantly short of expectations, reflecting a more cautious attitude from investors during the project's early stage. In the short term, there is a lack of subscription momentum and a shift towards a conservative market sentiment.

Given the sluggish pace of first-day subscriptions, market confidence in achieving the $5 million fundraising goal has waned, and investors may remain on the sidelines in the near term, reducing the influx of new capital. This shift towards caution could trigger technical selling pressure, leading to a short-term price pullback or sideways consolidation, with increased trading volatility.

Despite disappointing first-day fundraising data, the project team still has a six-day fundraising window remaining. If they can ramp up community promotion, optimize incentive mechanisms, and achieve substantial progress in liquidity and cross-chain functionality, market confidence could be revived. Investors should focus on monitoring subsequent fundraising progress and project milestone achievements to assess the long-term value realization potential.

SONAR

Market Holds Steady; US Jobs Data Exceeds Expectations

Crypto Market Remains Range-Bound; US Jobs Report Exceeds Expectations

Institutions: The stronger-than-expected rebound in March non-farm payrolls demonstrates the resilience of the US labor market, with inflation currently being the core variable in the Federal Reserve's monetary policy.

Huatai Securities: March Nonfarm Payroll Data Reflects Resilience of the US Job Market, Inflation Becomes the Core Variable in Fed Policy

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The IMF calls on the Bank of Japan to continue raising interest rates.

The Federal Reserve expects to cut interest rates twice this year to support the labor market.

CICC: Investment demand and prices for gold may both have room for upward correction.

Stronger, broader hiring could ease Fed job market worries

Fed's Daly: The Federal Reserve should focus on the employment rate rather than employment data.

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