SNX price soars 100% in December — What's driving the rally for Synthetix?
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:....
Related News
Synthetix (SNX) remained in a bullish zone above $15.00, despite pullbacks in bitcoin and ethereum against the US Dollar. SNX price is likely to rally towards $20.00 if it clears the $16.00 hurdle. There was a steady increase in synthetix’s SNX price above $12.00 against the US dollar. The traded to a new yearly high […]
Is the early stage of the hard fork potentially driving this price rally of Bitcoin? It’s definitely possible, but it could also be a variety of other factors as well. Over the past week the price per Bitcoin has shot up almost $40.00 USD and there has been some speculation about whether that spike has had anything to do with the news about the hard fork to Bitcoin Classic. There have been some concerns about the hard fork due to some issues with scaling, adoption, regulation, legality and liability. Yet there have been vocal supporters of the hard fork in the space that have championed....
DeFi After a brutal past three to four weeks, DeFi coins are bouncing back. Synthetix Network Token (SNX), the native token of leading decentralized derivatives platform Synthetix, has gained 7.9% in the past 24 hours. The coin is now nearing $5 after spending some time under that pivotal price point. It seems that there are […]
The beaten and bruised decentralized finance (DeFi) market has continued its descent despite a rally in Bitcoin’s price. Top coins pertaining to this segment of the crypto space have continued to slide lower. Coins such as Compound (COMP), Synthetix Network Token (SNX), Balancer (BAL), and a handful of others have dropped in excess of 10% […]
The beaten and bruised decentralized finance (DeFi) market has continued its descent despite a rally in Bitcoin’s price. Top coins pertaining to this segment of the crypto space have continued to slide lower. Coins such as Compound (COMP), Synthetix Network Token (SNX), Balancer (BAL), and a handful of others have dropped in excess of 10% […]