Synapse (SYN) has been in the cryptocurrency spotlight recently, with a flurry of news and updates fueling a strong rally. The crypto has soared by 40% following its futures listing on Binance, while also being mentioned among top new cryptocurrencies. An Ethereum-based interoperability altcoin, it has gained traction due to its global cross-chain investment possibilities. Synapse Network integrates
Zero Knowledge and Layer Zero technology and is undertaking an $SNP token migration. It has bounced back by 17% amidst sales pressure, demonstrating resilience. Hong Kong stock exchange's launch of a smart contract-powered settlement platform adds to the potential for interoperability cryptos like SYN.
A 96% surge in a week has spurred interest; while the cause for the skyrocketing price is unclear, it is speculated to be a result of their continuous development and innovation. However, the road has not been completely smooth, with the SYN token price falling by 20% after a massive sell-off by a liquidity provider. Despite setbacks, the token regained momentum, surging by 44% as cross-chain advancements accelerated. The Synapse bridge has further eased the token transfer process between Ethereum and Avalanche, contributing to its innovative appeal. However, the abrupt dump of 9 million SYN tokens by a liquidity provider stands as a considerable risk factor.
Synapse Coin News Analytics from Mon, 05 Feb 2018 15:43:40 GMT to Fri, 20 Sep 2024 07:00:00 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor 6
