Synapse (SYN) coin's value has surged
40% following a
futures listing on Binance. The price escalation followed an announcement that SYN, an
Ethereum-based interoperability altcoin, would be listed on Binance's futures platform. The rise was also propelling by strong buying sentiment from traders, leading to heightened market cap and massive investment strength. However, the coin underwent a setback as
Nima Capital dumped 9 million SYN tokens causing the coin's price to plummet, triggering suspicion of a rug pull among the community members. In response to selling pressure, DeFi protocol SYN bounced back by 17%. Moreover, SYN gained further visibility as it got listed on
INDODAX. In other news, SYN-focused startup
Synquote was able to raise $2.8M in funding round, backed by Initialized and Polygon. Establishing further trust and credibility,
SynFutures secured $22M in funding led by
Pantera Capital, indicating that despite the temporary setbacks, the coin retains investor confidence and is projected to perform well in the long-run. However, not all trader forecasts and outlooks align, as there are equally compelling arguments about price deterioration.
SYN Coin News Analytics from Wed, 01 Mar 2017 08:00:00 GMT to Wed, 13 Nov 2024 08:00:00 GMT -
Rating 2
- Innovation 4
- Information 3
- Rumor -1
