SNX hits multi-week highs as total value locked on Synthetix approaches $1 bi...
However, SNX withdrawals from Synthetix pools picked up momentum during the price boom. SNX spiked to its three-week high on Monday in reaction to a market-wide upside correction led by Bitcoin (BTC) and other top-cap digital assets.The Synthetix project's native token reached $9.59 after rising four days in a row by up to 50%. That included a sharp 18.29% upswing in the previous daily session, sparked by Bitcoin's climb above its key resistance level of $35,000. Altcoins tend to tail the flagship digital asset's price trends.Synthetix and Bitcoin price moves in the recent sessions.....
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Interoperability-focused projects that offer cross-chain bridges and lucrative liquidity mining pools are seeing an influx of funds right as DeFi’s TVL hit a new all-time high. Altcoins and DeFi tokens have been on a tear for the last two weeks and as the end of August approaches many projects are seeing their tokens reach for new all-time highs.Data shows that a majority of the top-10 DeFi tokens gained more than 20% in the past 30-days, with projects like Bancor (BNT) and THORChain (RUNE) seeing gains in excess of 115%. Top-10 DeFi assets by price. Source: MessariHere’s a look at some....
There are several factors why SNX is seeing some impressive gains over the past month. SNX, the native token of Synthetix, a DeFi derivatives protocol, has been surging throughout the past week and is now worth over $7.87 as of Dec. 23.The primary catalyst behind SNX has been a listing on Coinbase. On Dec. 16, Coinbase officially announced the listing of Aave (AAVE), Bancor (BNT) and Synthetix (SNX). Other factors include the rapid increase in the total value locked and user interface improvements via its latest software upgrade on Dec. 22.SNX/USDT daily chart (Binance). Source:....
The decentralized finance market cap reached $45 billion as the total value locked in DeFi continues to rise to new highs. The decentralized finance sector continues to charge full steam ahead as multiple tokens notch new all-time highs and the total value locked in DeFi protocols grows with the passing of each week.Data from Messario shows projects like AAVE, Uniswap (UNI), SushiSwap (SUSHI) and Synthetix (SNX) have all rallied by double-digits, creating a positive feedback loop as more users engage with the protocols to yield farm and capitalize on flash loans. DeFi asset performance.....
Bitcoin is testing $19,000 as DeFi hits another milestone in total crypto locked.
Data from Cointelegraph Markets Pro shows SNX, AXS and EOS as the strongest 24-hour gainers as the bullish momentum in DeFi and NFT tokens continues to build. Bitcoin’s (BTC) steady range-bound trading opened the door for select altcoins to rally higher as antsy traders scour the markets in search of profitable opportunities. Data from Cointelegraph Markets Pro and TradingView shows that the top 3 movers over the past 24 hours are Synthetix (SNX), Axie Infinity (AXS) and EOS.Top performing assets over the last 24-hours. Source: Cointelegraph Markets ProThe growing momentum in both....