Tag: mainnet

• Somnia is a SoftBank-backed Improbable’s Layer 1 blockchain network.
• Somnia’s token price is rallying after 10 billion testnet transactions and the mainnet launch.
• Somnia has partnered with ZNS Connect for .somnia domains and decentralised identity tools.

Somnia (SOMI) token has seen a dramatic upswing in value, climbing more than 40% in the past 24 hours and marking a significant step for one of the newest entrants in the blockchain space.

With strong trading volume and multiple partnerships fueling momentum, SoftBank-backed Improbable’s Layer 1 is emerging as a serious contender in the Web3 arena.

Why is the price of Somnia cryptocurrency rising?

Somnia (SOMI) is currently trading around $1.60, with a market cap of more than $260 million.

At its peak, Somnia touched an all-time high of $1.84, only days after hitting an all-time low of $0.38.

This sharp swing highlights the intense market activity surrounding the project, amplified by trading volumes that surpassed $898 million within 24 hours.

Somnia’s surge can be traced back to the successful launch of its mainnet six days ago.

The mainnet launch came after the network processed more than 10 billion testnet transactions, a figure that signalled both the robustness and scalability of its underlying technology.

The mainnet launch generated strong market confidence, which quickly translated into a rally in SOMI’s value as investors rushed to secure early positions.

Beyond the technical milestones, Somnia’s partnerships are also proving to be a strong catalyst for price growth.

The network recently announced its collaboration with ZNS Connect to create decentralised identity solutions.

Through this partnership, users can mint .somnia domains, deploy smart contracts, and interact directly on-chain.

Notably, the integration of identity with utility has added a layer of uniqueness that makes the ecosystem more attractive to both developers and users.

Another crucial boost came from Somnia’s partnership with TheResidncy, a platform that connects sports fans with their favourite athletes through interactive live events.

In just six sessions, the collaboration attracted over 121,000 unique fans, peaking at 22,000 concurrent participants and recording 245,000 messages and reactions — all processed fully on-chain via Somnia.

This not only demonstrated the network’s ability to scale under heavy demand but also introduced a compelling real-world use case that resonates with global audiences.

Somnia price outlook

With the token’s price climbing more than 300% from its lows and trading activity showing no signs of slowing, the short-term outlook appears bullish.

The project has successfully combined market excitement with clear utility, which is often a critical factor in sustaining long-term growth.

However, as with most emerging cryptocurrencies, volatility remains a key consideration.

The price is just under its record high, and profit-taking could cause sharp swings in the days ahead.

Nevertheless, the fundamentals — particularly the network’s capacity to handle large-scale activity and its focus on identity-driven Web3 experiences — provide a strong foundation for continued expansion.

The back-to-back partnerships are also setting it apart in a crowded market.

If the platform can maintain its momentum and deliver on its roadmap, the SOMI token may continue to attract investor interest well beyond its post-launch rally.