Sophon's Base Migration Sparks 107% Price Surge Amid Token Utility Shift

Sophon (SOPH) has made a significant shift from its proprietary zero-knowledge powered Layer 2 blockchain to Coinbase's Base network, leading to a 107% price surge over the last 24 hours.

The migration began unfolding in June 2026 and gained momentum this week. Major exchanges like Upbit suspended SOPH deposits and withdrawals on September 8, while Bitkub halted transactions on the original Sophon network as of September 3 to facilitate the switch to ERC-20 token on Ethereum.

These exchange-level changes created a liquidity crunch and speculative interest that contributed to the price rally. The migration essentially retires SOPH's original Layer 2 blockchain, which focused on gas fee payments and staking utilities.

Sophon is repositioning itself as a consumer product studio building on Base, shifting its token utility from network gas and staking functions to a revenue-funded buyback-and-burn model. The revenue stream is expected to come from new consumer applications, including the Pyre payments app being developed within the Base ecosystem.