Synthetix (SNX), a leading platform for synthetic asset trading, is set for a significant revamp with an overwhelming support rate of 99% among its coin holders. The revamp is part of an
'overhaul' initiative spearheaded by an activist investor.
Coinbase has added SNX to its perpetuals trading platform, which has had a notable impact on SNX's performance.
Additionally, Synthetix is launching a new app chain that will enable cross-chain liquidity for SNX staking and perps. The cumulative effect of these factors has led to a
bullish run on SNX thus sparking price prediction optimism for 2024, 2025, and beyond.
Despite
Gemini crypto exchange's upcoming termination of SNX support, the coin continues to demonstrate potential, attracting a
$20M investment from market maker, DWF Labs, and
Web3 quant trading firm. SNX has also curtailed token inflation by shifting focus towards
buybacks and burns.
While there is interest in grey areas, such as the expected L2 Curve Wars and the Optimism airdrop announcement, the
SNX trading volume has overtaken GMX successfully. As a result, investor anticipation around SNX has heightened. Synthetix is recognized for its innovation in liquidity provision for on-chain derivatives, as well as for its transparency in development activity.
SNX Coin News Analytics from Wed, 05 Dec 2018 13:19:47 GMT to Thu, 03 Oct 2024 18:10:00 GMT -
Rating -2
- Innovation 8
- Information 7
- Rumor 3
