S token gained nearly 5%, bucking broader market weakness. Sonic Labs has appointed Mitchell Demeter as its new Chief Executive Officer, marking an important moment for the blockchain company. The move comes as the network’s native token, S, rallied nearly 5% in the past 24 hours, which defies the broader altcoin market slump. Sonic Labs has appointed Mitchell Demeter as CEO to drive global growth and deepen institutional partnerships. Market Defies Broader DowntrendThe S token has surged to $0.2434, supported by a 78.68% spike in trading volume.