Synapse (SYN), a cross-chain cryptocurrency, has emerged as a strong competitor to Binance Coin (BNB) with its advanced bridging capabilities. It is also being recognized as one of the best cross-chain bridges of 2024. Despite a recent sell-off from a significant liquidity provider that resulted in a sharp decline in token price and TVL, Synapse demonstrated resilience with a 17% bounce. As the community voiced concerns about a potential rug pull, Synapse launched an
investigation into the sudden sell-off. The token value did face a downturn as Nima Capital unloaded 9 million SYN tokens, but it experienced a subsequent surge of 44% indicating robust market interest. Moreover, Synapse was successful in preventing an $8M hack, reinforcing its security framework. Notably, Synapse is gradually extending its reach with entries on multiple blockchain platforms, as indicated by the launch of a settlement platform powered by
smart contracts by the Hong Kong Stock Exchange and Synapse's historic shift to zkSync. Meanwhile, Synapse's integral role in transferring tokens from Ethereum to Avalanche further underscored its reliability and efficiency. AI startup, RazerCon 2023 and Bitcoin Daily have noted this token's potential, and the token is set to trend on DEXTools. Finally, Synapse has confirmed its place in the market with a self-reported market cap of $103.26 million.
Synapse Coin News Analytics from Mon, 05 Feb 2018 15:43:40 GMT to Tue, 06 Aug 2024 11:20:38 GMT -
Rating -2
- Innovation 6
- Information 4
- Rumor -4
