Synthetix founder Kain Warwick spoke with Decrypt's Dan Roberts all about DeFi governance and its challenges, his problems with voting platforms like Snapshot, DAO fatigue, regulation and the SEC, and stablecoins onstage at Chainlink SmartCon 2022.

Decrypt

The DeFi Governance Conundrum: Synthetix Founder Kain Warwick at SmartCon 2022

Synthetix founder Kain Warwick joins Decrypt's Dan Roberts and Liam Kelly in our Decrypting Mainnet series at Mainnet 2022 to give his views on regulation and the SEC, how DeFi projects will split between compliant and non-compliant and that it's "ideologically confusing" but "not necessarily a bad thing."

Synthetix Founder Kain Warwick: Regulation Will Fork DeFi Projects Into Two Camps

There are many coins and tokens that have performed well in the last 24 hours, and it seems that DeFI tokens in particular have been showing some strength, with a large degree of growth being conferred to a mixture of governance tokens such as UNI and CRV. Earlier this month, token holders of UNI decided that they would vote to improve upon the ecosystem by creating the Uniswap Foundation. ...Read More: Biggest Crypto Gainers Today 29 September – HNT, SNX, EOS, KSM, CAKE, CRV, LRC, ERN, UNI, SOL

cryptonews

Biggest Crypto Gainers Today 29 September – HNT, SNX, EOS, KSM, CAKE, CRV, LRC, ERN, UNI, SOL

The SNX Technical Analysis shows the declining trend reaching the $2.2 support zone under a resistance trendline’s influence. The SNX price action displays a bullish reversal from the $2.2 mark coinciding with the 78.60% Fibonacci level. In addition, the recovery rally challenges the long-coming resistance trendline teasing a bullish breakout as the buying pressure increases. So, is it the right time to buy Synthetix at this price? Key Points: The Synthetix price action teases a breakout entry opportunity. The SNX price action shows a double-bottom reversal possibility. The intraday trading volume in Synthetix is $94.31 million. Source – TradingView SNX Technical Analysis The SNX price action displays the declining trend under the influence of a resistance trendline accounting for a price drop of 42% within two months. After breaking multiple support levels, currently, the price takes support at the $2.20 demand zone coinciding with the 78.60% Fibonacci level. At the support confluence, the SNX price action displays a double bottom pattern at $2.20, ready to bounce the prices back above the resistance trendline. Hence, the sideline traders can find a bullish Breakout entry opportunity shortly. Additionally, the spike in buying pressure supporting the recently formed bullish engulfing candle reflects an improvement in the underlying sentiments. Upon successful trendline breakout, the SNX price action will show an uptrend to the...

Cryptoknowmics

SNX Technical Analysis: Can SNX Holders Remain Dominant At $2?

The post Uniglo.io (GLO) ICO Is Selling Faster And Faster, Bullish ROI To The Likes Of Synthetix (SNX) And PancakeSwap (CAKE) Expected appeared first on Coinpedia Fintech NewsInvestors not utilizing on-chain data are operating in information asymmetry and losing a competitive advantage needed to succeed in crypto markets. Watching the flow of funds allows an investor to see where capital is being allocated and, therefore, where the gains will be made. Uniglo&#8217;s ICO (Initial Coin Offering) devours capital from multiple chains as &#8230;

coinpedia

Uniglo.io (GLO) ICO Is Selling Faster And Faster, Bullish ROI To The Likes Of Synthetix (SNX) And PancakeSwap (CAKE) Expected

In the race to find the next big thing in cryptocurrency, many people look to social currency as a way to invest.Continue reading Uniglo (GLO) Might Generate Income Significantly Better Than Synthetix (SNX) And Neo (NEO) at DailyCoin.com.

Daily Coin

Uniglo (GLO) Might Generate Income Significantly Better Than Synthetix (SNX) And Neo (NEO)

The SNX Technical Analysis shows a potential bullish reversal as buyers sustain dominance over the $2.2 crucial support level. The SNX price displays a long-term downtrend after facing rejection from the 200-day EMA to reach the crucial support level of $2.2. However, the recent bullish candle forming at the $2.20 support level projects the possibility of a short-term bullish reversal. So, should you consider buying Synthetix? Key Points: The Synthetix prices show a bull cycle heating up at the support trendline. The double bottom can result in a bullish breakout. The intraday trading volume in Synthetix is $64.4 million. Source – TradingView SNX Technical Analysis The SNX price displays the start of a long-term downtrend after facing opposition from the 200-day EMA. After reversing from $4.5, the declining market value takes support at $2.20, accounting for a 46% downfall. Currently, the price trend sustains above the $2.20 mark avoiding a drop to the 78.6% Fibonacci level slightly above $2. Additionally, the 3.96% intraday jump resulted in a bullish candle with the potential to reach the overhead resistance of $2.68. However, the lack of bullish support in the intraday trading volume questions the possibility of the trend sustaining above $2.20. Therefore, traders hoping to ride the reversal rally must wait for the candle closing to avoid any higher price rejection trap. If the buying pressure persists, the fresh bull cycle ...

SNX Technical Analysis: Will Buyers Remain Dominant Over This Level?

Vitalik Buterin, Yuga Labs, Synthetix, and others celebrated the Merges successful launch earlier this morning. Community Celebrates Merge Event The Ethereum Merge has finally shippedand the crypto community has a...

Crypto Briefing

Crypto Community Reacts to “Historic” Ethereum Merge Event

Cryptocurrencies have been known for their volatility and lack of regulation, which has led many to view them with suspicion. However, some projects are trying to change this perception by getting audited by well-respected firms. One such project is Uniglo (GLO), which has recently announced that it has undergone an audit by Paladin. This is &#8230;

CryptoNewsZ

Uniglo (GLO) Ensures Investors Trust With Paladin Audit. Interest Of Synthetix (SNX) And Solana (SOL) Holders Increasing

Synthetix is at the cusp of a breakout after the release of new announcements on the network. The network is rolling out a proposal to cap SNX’s maximum supply at a &#8220;very memorable&#8221; 300 million. Interestingly, this comes after two failed attempts to increase the percentage of staked SNX according to the analytic platform Messari. [&#8230;]

AMB Crypto

Where will Synthetix [SNX] end up after the latest SIP-276 proposal

Synthetic crypto assets are financial instruments in ERC-20 smart contracts known as "Synths," that are comparable to derivatives.Continue reading What Are Synthetic Crypto Assets and Why Should You Invest in Them? at DailyCoin.com.

What Are Synthetic Crypto Assets and Why Should You Invest in Them?

The layer-2 scaling solution Synthetix undertook some important developments this month. Often described as a “blue chip” DeFi project, Synthetix was one of the first projects to launch on the Ethereum network. And, now the platform showed its true colors given the received response from users. Credit goes to this factor According to Kain Warwick, [&#8230;]

Synthetix’s trading volume surges by >700% thanks to…

SNX price action shows a descending triangle pattern in the daily chart, with the base at $2.68, teasing a downtrend to the $2.20 mark. A bullish reversal in SNX prices from $2.68 struggles to rise above the resistance trendline leading to a descending triangle pattern in the daily chart. Currently, the prices revert from the resistance trendline teasing a potential fall to the $2.68 base. So, will the prices continue to fall with a bearish breakdown of the triangle pattern? Key Points: The SNX price action displays a triangle pattern forming in the daily chart. The daily RSI slope maintains a sideways trend below the halfway line. With a market cap of $677 Billion, the intraday trading volume of Synthetix has increased by 27% to reach $124 Million. Source- TradingView SNX Technical Analysis The SNX prices fell sharply to the $2.68 mark from the supply zone at $4.20, accounting for a 37% drop within a fortnight. However, the price action creates a descending triangle pattern with a lower high formation trend generating a resistance trendline. The bearish crossover of the 20 and 50-day SMA increases the possibility of a downtrend continuation. The bearish breakdown of the triangle pattern will result in a prolonged downtrend to the next support level of $2.20. Conversely, a bullish reversal giving a bullish breakout will retest the 50-day SMA at $3.25. Technical Indicators The RSI slope maintains a sideways trend within the nea...

SNX Technical Analysis: Prices Within Triangle Threaten A Downfall Below $2.66

Analysts from Messari solved puzzle of dramatic imbalance between Synthetix (SNX) activity metric and price of its token

U.Today

Synthetix (SNX) Price Doesn't Follow Revenue Boom, Here's Why

The Synthetix price analysis is bullish today. The price is gearing up to mint more gains amid the recent bullish market structure. However, additional buying interest is required to break through the ongoing consolidation. If the price could breach the $3.20 hurdle, it would be a discount buying opportunity for the sidelined investors. As of The post Synthetix Looks For 14% Gains Following This Bullish Formation appeared first on CoinGape.

CoinGape

Synthetix Looks For 14% Gains Following This Bullish Formation

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________...Read More: Zipmex Engages Financial Advisors, 16 Afghan Exchanges Shut Down, CoinSwitch Kuber Raided, Singapore Sends Questionnaires to Crypto Firms + More News

Zipmex Engages Financial Advisors, 16 Afghan Exchanges Shut Down, CoinSwitch Kuber Raided, Singapore Sends Questionnaires to Crypto Firms + More News

If the proposal were to take effect, Synthetix would much more closely resemble a traditional business by simply generating fee revenue and distributing the proceeds to SNX holders. 

CoinTelegraph

Synthetix looks to turn off the SNX money printer once and for all

The SNX prices reverse from $2.68 with a morning star pattern, resulting in a 13% jump this weekend. So, should you consider joining the reversal hype? Key Technical Points: The Synthetix market price action shows a bullish reversal from the $2.68 horizontal level to form a morning star pattern. The 50 and 100-day EMA fail to give a bullish crossover due to the correction phase. With a market cap of $342 million, the intraday trading volume of Synthetix has increased by 34% to reach $77.26 million. Past Performance of SNX The Synthetix (SNX) price experienced an increase in bearish influence last week near the $4.15 support zone and the 200-day EMA. The bullish reversal due to the failure to sustain above the $4.0 mark results in a 35% drop to reach the $2.68 support level. However, the buyer reclaims the trend momentum this Sunday to form a morning star pattern with a 13% price jump. Source – Tradingview SNX Technical Analysis The SNX price action projects an increase in bearish influence over the daily candle, evident by the 4.93% price drop. Hence the sellers are undermining the morning star pattern increasing the likelihood of a price drop to the psychological mark of $2.0. With the recent crash in the Synthetix token price, the 50 and 100-day EMA fail to give a bullish crossover. Hence, the crucial EMAs reclaim the bearish alignment increasing the possibility of a downtrend continuation. After the phenomenal drop in under...

SNX Technical Analysis: Will This Weekend Reversal Sustain Above $3?

Top 5 cryptocurrencies by an increase in price are EOS, SNX, LDO, AAVE, and NEXO. EOS increased around 17% in

The News Crypto

Top 5 Cryptocurrency Gainers of the Day

The SNX price action shows a high momentum bear cycle within a wedge teasing a bearish breakout to test the crucial sport at $3. Key Technical Points: The Synthetix price action forms a double top within the rising wedge pattern. The 50 and 100-day SMA crossover gains a bullish spread. With a market cap of $422 million, the intraday trading volume of SNX has increased by 16% to reach $64.20 million. Past Performance of SNX The SNX price action shows a bearish reversal from the $4.38 to the $3.5 support level within a rising wedge, indicating the completion of the bear cycle. The downtrend wiggles up and down the 200-day SMA while forming the double top pattern with a neckline at the $3.5 mark. However, the support trendline of the rising wedge pattern cushions the downfall leading to lower price rejection candles. Source – Tradingview SNX Technical Analysis The SNX price retests the broken 200-day SMA, leading to the higher price rejection in the daily candle. Hence, the increasing downtrend momentum teases a downfall below the support trendline and a drop below the $3.5 mark. The recent bullish crossover of the 50 and 100-day SMA gains a bullish spread despite the bear cycle within the wedge. The daily RSI slope drops to the halfway line, crossing below the 14-day SMA, reflecting a rise in the underlying bearishness. Moreover, the MACD indicator shows the increased selling pressure undermining the bull cycle with a bearish cr...

SNX Technical Analysis: Bears Hijack Wedge, Threaten 10% Drop

CeDeFi is a new financial system that combines centralized and decentralized systems. It provides privacy, reduced fees and ease of use.

What is CeDeFi, and why does it matter?

A common FOMO mistake is to pick a token that’s pumping and hope it continues to pump. That would be a financial disaster! Getting familiar with a coin like Synthetix (SNX) before making an investment should be your best move as a serious investor. So, the question of how to stake SNX should come after &#8230;  How to Stake SNX: Unlimited Liquidity on the Synthetix Network Read More &#187;

Cryptopolitan

How to Stake SNX: Unlimited Liquidity on the Synthetix Network

On Monday (August 8), a very popular crypto analyst and influencer gave his reasons for recently buying “a bag” of $SNX, the native collateral asset of derivative liquidity protocol Synthetix. Here is how Binance Academy describes Synthetix: “Synthetix is a synthetic asset protocol that allows for the issuance of synthetic assets on Ethereum. You could […]

CryptoGlobe

Crypto Analyst Gives Six Reasons for Buying Synthetix ($SNX)

The post Analyst Maps Next Levels For Bitcoin (BTC), Solana (SOL) , Optimism(OP) &#038; Synthetix (SNX) appeared first on Coinpedia - Fintech &amp; Cryptocurreny News Media| Crypto GuideThe broader crypto market is performing much better than it was in the last few months. Yet, a closely followed crypto strategist and analyst have a bearish approach towards the whole crypto market. The analyst who is anonymously known as Altcoin Sherpa informs his 180,700 Twitter fanbase that for Bitcoin $22,000 price range is a &#8230;

Analyst Maps Next Levels For Bitcoin (BTC), Solana (SOL) , Optimism(OP) & Synthetix (SNX)

The pseudonymous crypto analyst Altcoin Sherpa remains largely bearish about the market despite the general price uptick last week. The trader tells his 180,700 Twitter followers that $22,000 is a &#8220;must hold&#8221; level for Bitcoin (BTC). &#8220;The last high, although technically higher, is not convincing, and I think there&#8217;s a real chance that this low [&#8230;]The post Here’s What’s Next for Bitcoin (BTC), Solana (SOL) and Three Under-the-Radar Altcoins: Top Crypto Trader appeared first on The Daily Hodl.

The Daily Hodl

Here’s What’s Next for Bitcoin (BTC), Solana (SOL) and Three Under-the-Radar Altcoins: Top Crypto Trader

THORChain [RUNE], Lido Finance [LDO], and Synthetix [SNX] were the top performers on 3 August as the DeFi ecosystem steered the crypto market back to greens. While others also recovered, the revival of these DeFi tokens was superior. On 3 August, RUNE was 11.51% up. LDO posted 13.46% gains while SNX registered an unprecedented 13.14% [&#8230;]

The DeFi saga of RUNE, LDO, SNX leave investors in awe

Altcoins are seeing a decent uptrend recently. The market expects FED to take a slow and soft approach in its future policy decisions. The downfall in commodity prices might be an indication of inflation coming down. So, if you have been thinking of investing in Altcoins after a recent relief bounce, here is a list of the top 5 Altcoins of the week. 1. Filecoin (FIL) Anyone can save and retrieve data online, thanks to the peer-to-peer Filecoin network. Files are consistently and constantly saved and retrieved for however long a user requests, thanks to built-in economic incentives. The amount of storage space available and how much it costs to store and retrieve files are not under the authority of a single business or organization. Instead, anyone with internet access can participate in open marketplaces for storing and retrieving files, courtesy of the Filecoin storage network. It carries out these transactions using its native coin (FIL). Similar to bitcoin and ether, the native crypto token of the Filecoin network is the Filecoin token (FIL). Holders of tokens can use FIL to interact with and conduct transactions on the Filecoin network. Users specifically pay miners in FIL to store, distribute, and retrieve their data. Additionally, storage companies use FIL as collateral to offer a minimal degree of service assurance, which diminishes if an agreement with a customer falls through. $FIL currently trades at $10.81 and has ...

A Glance at the The Top 5 Altcoins of the Week

Amid mixed market moves, DeFi tokens Lido and Synthetix have both posted hefty gains over the past 24 hours.

DeFi Tokens Lido, Synthetix Rally as Crypto Markets Trade Sideways

The SNX price shows a successful post-retest reversal from $26.55, teasing a bull run to $37 if the market value exceeds the $30 resistance level. Key Technical Points: The Synthetix (SNX) price action inchoates a Morning Star pattern resulting in a 12% jump overnight. The support trendline helps the buyers avoid a closing below the $3.5 mark. With a market cap of $435 million, the intraday trading volume of Synthetix has increased by 78% to reach $226 Million. Past Performance of SNX As predicted in our previous article, the SNX prices exceed the $3.5 resistance level resulting in a price jump to the 200-day SMA. However, the bullish failure to surpass the opposing SMA results in a retracement to retest the broken horizontal level. After a short consolidation near $3.5, the bullish support from the ascending trendline helps create a Morning Star pattern. The support trendline is in effect after the bullish reversal from the $2.20 support level accounting for a price jump of 66% in the last three weeks. Source – Tradingview SNX Technical Analysis The SNX price avoids a downfall below the $3.5 support level resulting in a successful retest and increasing the uptrend possibility. Moreover, the increased bullish commitment evidenced by the spike in intraday trading volume reflects a stronger bullish side. With the bullish reversal from $3.5, the Synthetix market price challenges the 200-day SMA. Thus, increasing the bullish influ...

SNX Technical Analysis: Will SNX Prices Beat The 200-day SMA?

The recovering market has been benevolent for many altcoins such as Synthetix, more so than others. In fact, in addition to this, their use cases have grown as well. However, this also fuels a leading question. While the considerable rallies are looking good right now, will they still survive once the bullishness slows down? Synthetix [&#8230;]

SNX’s 116% rally on the back of growing stablecoin demand means…

The post Top Gainers &#038; Losers for the Day, YFI, ICP, FIL Surge High, While ETC, RUNE, SNX Price Tank Notably appeared first on Coinpedia - Fintech &amp; Cryptocurreny News Media| Crypto GuideCrypto Space is undergoing a roller coaster ride as most of the assets are currently hovering within an upper consolidation. The asset which maintained a notable upswing a couple of days before now appears to have exhausted to some extent.&#160; On the other hand, the popular DeFi token Yearn.Finance(YFI) reached the top of the gainer&#8217;s &#8230;

Top Gainers & Losers for the Day, YFI, ICP, FIL Surge High, While ETC, RUNE, SNX Price Tank Notably

Synthetix decentralized autonomous organization (DAO) has renewed the partnership with liquidity provider Jump Crypto, according to the protocol’s developers. After the announcement, the price of Synthetix’s SNX token increased by over 14%. DAOs are organizations with decentralized control owned and run by their members. There is no human manager to make decisions, and the software carries them out. Synthetix’s developers shared the news via Twitter on Thursday night that Jump Crypto’s expertise in data-driven trading and liquidity provisioning will support Synthetix’s goal of being the liquidity backbone for on-chain derivatives. Synthetix DAO and Jump Crypto are excited to announce a renewed partnership. Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives. — Synthetix ⚔️ (✨🔴_🔴✨) (@synthetix_io) July 21, 2022 Jump Crypto Anticipates to Collaborate Closely with Synthetix The Chicago-based trading business is anticipated to collaborate closely with the Synthetix ecosystem to provide liquidity across listed assets and product feedback. Jump Crypto offers investments and liquidity services and takes part in project governance. SNX increased to a high of $3.37 during Asian trading hours, but profit-taking caused prices to drop to $3.25 at the time of publication. After a market-wide decrease drove prices to monthl...

Synthetix DAO and Jump Crypto Announce a Renewed Partnership

The trendline breakout rally sustains above the 50-day SMA and heads to break the 100-day SMA. Will the uptrend drive SNX prices above $3.5? Key Technical Points: The SNX prices jumped by 9.41% in the last 24 hours. The market value trades between the 50 and 100-day SMA. The 24-hour trading volume of Synthetix is $91.9 Million, indicating a drop of 25%. Past Performance of SNX As mentioned in our previous article, the SNX prices sustain above the 50-day SMA and maintain the breakout rally momentum. The rally heads higher to the 100-day SMA and shows a growth of 35% over the last week. Additionally, the intraday trading volume showcases a positive trend supporting the bullish uprising. Source – Tradingview SNX Technical Analysis SNX price action shows a higher price rejection from the 100-day SMA, reflecting the difficulty for the price trend to surpass the resistance. Hence the uptrend must exceed the opposing SMA to reach the overhead resistance of $3.5. The RSI indicator shows a gradual uptrend reversing from the nearly oversold territory exceeding the Halfway line and the 14 days average line. Hence, the technical indicator supports the thesis of uptrend continuation. Additionally, the MACD indicator shows fast and slow lines maintaining a positive trend above the zero line while the bullish histograms resurface. Further, the increasing spread between the fast and slow lines hints that the uptrend is here to stay. Hence the...

SNX Technical Analysis: Recovering Prices Prepares To Exceed To $3.5

The biggest Ethereum (ETH) whales in the world are eyeing up several altcoins within the decentralized finance (DeFi) sector as crypto markets turn green. Data from blockchain tracking service WhaleStats show that the top 1,000 Ethereum whales have been accumulating a slew of stablecoins over the past 24 hours, including Circle&#8217;s USDC, Binance&#8217;s BUSD, Maker&#8217;s [&#8230;]The post Top Ethereum Whales Pile Into Compound (COMP), Synthetix (SNX) and Two More DeFi Altcoins As Markets Jump appeared first on The Daily Hodl.

Top Ethereum Whales Pile Into Compound (COMP), Synthetix (SNX) and Two More DeFi Altcoins As Markets Jump

It’s too early to know if DeFi is “dead,” but platforms that share revenue with liquidity providers and token holders could be the ones that survive the bear market.

DeFi’s downturn deepens, but protocols with revenue and fee sharing could thrive

SNX technical analysis shows a bullish breakout of a descending triangle resulting from the 16% jump in the last two days. Will bull run cross above $3? Key Technical Points: SNX prices have decreased by 16.30% in the last 24 hours. The price action shows a reversal from $2.20, breaking above the resistance trendline. The 24-hour trading volume of Synthetix is $100 Million, indicating a drop of 2%. Past Performance of SNX As mentioned in our previous analysis, the SNX prices sustained above the $2.20 support level. Reversal from the crucial support level results in a price jump above the 50-day SMA and breaks the habit of lower high formations. Inflating by 16% over the last48 hours, the market price breaks out of a descending triangle, starting a new bull run. Source – Tradingview SNX Technical Analysis The SNX price chart shows an increase in trading volume, supporting the breakout rally and increasing the likelihood of uptrend continuation. Hence, traders can expect the breakout rally to reach the $3.5 mark. The MACD indicator shows a lateral trend providing multiple false signals along the way. However, the resurfacing positive histograms showcase a strong trend that reflects an increase in buying pressure. Hence, we expect the positive trend to continue in the fast and slow lines. The RSI indicator shows a sideways movement near the halfway line, but the recent double bottom reversal surpasses the halfway line. The revers...

SNX Technical Analysis: Reversal Leading To Triangle Breakout Aims $3.5

The SNX Technical Analysis shows a retracement to the support level at $2.20, inchoating a descending triangle pattern, teasing a fallout rally. Key Technical Points: SNX prices have increased by 1.56% in the last 24 hours. The price action struggles to sustain above the 50-day SMA. The 24-hour trading volume of Synthetix is $52 Million, indicating a drop of 2.36%. Past Performance of SNX The SNX price shows a bullish reversal from the $2.20 support level to rise above the 50-day average line. However, the increased selling pressure results in a continued bearish trend cracking under the SMA, inchoating a resistance trendline and descending triangle pattern. Hence the overall outlook remains bearish, teasing a potential fallout of the triangle pattern. Source – Tradingview SNX Technical Analysis The SNX price action shows a bullish candle forming with a growth of 3.27% today, which teases a potential bullish reversal to the resistance trendline. However, the probability of a bullish breakout decreases as the selling pressure over the crypto market increases. The DMI indicator shows that DI lines are preparing a bearish crossover with a drastic fall in the ADX line. Hence the technical indicator shows a severe drop in the underlying bullish momentum, which will shortly lead to a bearish breakout. Furthermore, the Stochastic RSI indicator shows an ongoing bearish trend in the K and D lines, ready to cross under the oversold boun...

SNX Technical Analysis: For How Long Synthetix Will Float Above $2.20?

The Total value locked (TVL) in DeFi protocols is currently 72 billion dollars worth of assets. At the peak of the bull run, TVL was around 230 billion dollars. DeFi protocols have worked frictionless and smooth during the previous quarter’s downtrend. So, if you have been thinking of investing in DeFi tokens, here is a list of the top 5 DeFi tokens of the week. These protocols are performing well during this bear market also. Top 5 DeFi Tokens of the Week 1. ThorChain Based on Tendermint and Cosmos SDK, ThorChain is a decentralized cross-chain liquidity system. It merely decides how to move assets in response to user activities; it does not peg or wrap items. As a leaderless vault manager, THORChain makes sure that each step of the process is byzantine-fault tolerant. The main goal of THORChain is to provide cross-chain liquidity while preventing centralization and capture. Only the assets stored in THORChain’s vaults are secured, and the security of those assets is backed by financial assurances. The THORChain ecosystem is powered by the token RUNE, which also offers the financial incentives needed to keep the network safe. The four crucial roles for RUNE are: Liquidity (as a settlement asset) Security (as a Sybil-resistant mechanism, and a means for driving economic behavior) Governance (signaling priority on-chain) Incentives (paying out rewards, charging fees, subsidizing gas) RUNE is used for network transaction fees. Bo...

Here Are The Top 5 DeFi Tokens of the Week

Synthetix Network [SNX], unlike the rest of the networks, has not been following the broader market’s cues. It has instead carved its own path. In doing so, it did not gain much but instead ended up incurring losses amounting to $132 million. Synthetix faces some real issues The fear in the crypto market eventually caught [&#8230;]

Synthetix: Days after $18m worth of selling, is SNX preparing for recovery

SNX price action showcases a falling trend momentum in the retracement rally teasing a double bottom reversal from $0.020. Key technical points: The market price has increased by 3.43% over the past 24 hours. The price action shows lower price rejection candles forming at the broken resistance trendline. The 24-hour trading volume of Synthetix is $241 Million, indicating a rise of 6.94%. Past Performance of SNX SNX price action shows the buyers failing to sustain the price above $2.35, as mentioned in our previous article, after the fallout of the 50-day SMA. However, the sellers struggle to get a follow-through under $2.35 as the price action teases a morning star pattern to retest the bearish fallout. Moreover, the possibility of the morning star failing to propel the price is high as the reversal pattern is not forming at a crucial support level. Source- Tradingview SNX Technical Analysis SNX prices showcase the falling trend in the trading volume during the retest, increasing the likelihood of a bearish continuation. Hence, traders can expect the price to decline to the bottom support of the $1.50 mark. The MACD and signal lines showcase a bearish crossover after a rounding reversal from the zero line leading to a fresh trend of negative histograms. Hence, the indicator showcases a rise in the underlying selling pressure. However, the RSI indicator shows the slope recovering after dipping under the 14-day SMA in the nearly...

SNX Technical Analysis: Retest Phase Warns A 30% Fall

SNX prices action shows a post-retest reversal attempt from $2.35 with a morning star pattern formation. Will buyers reclaim trend control? Key technical points: The SNX market price has increased by 5.60% over the past 24 hours. The price action shows a bullish reversal attempt from the $2.35 mark. The 24-hour trading volume of Synthetix is $147 Million, indicating a rise of 100%. Past Performance of SNX SNX price action revealed an extended correction period beneath a bearish trendline that accounted for an 80% decline. The downward trend had reduced the market value from $7.80 to $1.50 within three months. But, the rebound from $1.50 surpasses the selling tension of the resistance trendline but the sellers stifle the bullish momentum at $3.5. Source- Tradingview SNX Technical Analysis The higher price rejection led to a downfall in the SNX price action near the $3.50 mark. The bullish recovery last night helps the candle sustain above $2.35 and the buying pressure helps in further growth. Hence, the possibility of a morning star pattern forming at $2.35 increases sharply along with the trend reversal possibility. In terms of the technical indicators, the DMI displays the DI lines giving a bullish crossover as the ADX continues to fall. However, the MACD and signal lines go sideways close to the zero line while maintaining a positive alignment. Moreover, the falling trend in the bullish histograms reflects weakness in the un...

SNX Technical Analysis: Will Buyers Sustain $2.35 Stronghold?

Synthetix is having one of the best weeks of any of the top 100 capitalized crypto coins.The native token of the protocol is SNX. SNX is used in a synthetic currency trading protocol.There has been a noticeable uptick in the token's usage that is likely driving its price higher.

Seeking Alpha

Synthetix: What's Driving The Recent Spike?

A leading analytics firm says whales are accumulating the native token of an embattled crypto lending firm over the past week and a half. According to Santiment, large buyers have been accumulating CEL tokens &#8220;in a big way&#8221; in the last 10 days. &#8220;Celsius and its +290% price surge in 10 days came as traders [&#8230;]The post Whales Have Quietly Triggered a 900% Surge for Embattled Crypto Asset, According to Analytics Firm Santiment appeared first on The Daily Hodl.

Whales Have Quietly Triggered a 900% Surge for Embattled Crypto Asset, According to Analytics Firm Santiment

Fees spiked to a high of $8.36 million for Uniswap on June 15, beating out Ethereum on the same day at $7.99 million, and coincided with an 8.7% pump for UNI. 

DeFi summer 3.0? Uniswap overtakes Ethereum on fees, DeFi outperforms

Compound and Aave have nearly doubled in market value over the last four days, reaching critical areas of resistance. Ethereum DeFi Tokens Post Gains Compound, Aave, and Synthetix are soaring....

Compound, Aave, Synthetix Lead Ethereum DeFi Revival

The decentralized finance (DeFi) protocol Synthetix (SNX) has seen a massive surge in trading volume on its platform in June, leading its native token SNX to rise in the market....Read More: SNX Rises as Synthetix Sees Surge in Trading Volume

SNX Rises as Synthetix Sees Surge in Trading Volume

SNX, one of the oldest defi dapp, seems to have undergone a short squeeze after a brutal bear market in defi.

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SNX Doubles on Short Squeeze

Synthetix [SNX] secured the top spot as the biggest gainer in the list of top 100 cryptocurrencies by market cap during the trading session on 20 June. The token rallied by more than 60% on the heels of strong volumes on the Synthetix platform. Synthetix announced that its daily volume crossed over 200 million due [&#8230;]

Synthetix: Daily volume crosses $200m; is bullish harami pattern in the making

Have you ever heard of Uniswap, Aave, Compound, Balancer, USDC, Synthetix, Sushiswap, MakerDAO, Yearn, Curve, or any popular dApps? They all functionally rely upon The Graph, which is like a combination of decentralized versions of Google, banking, social media, other service providers, and other industries. There will be thousands of blockchain networks indexed by The...

The Graph Price Prediction 2022-2030: Is GRT a Good Investment?

The token&#8217;s 24-hour trading volume has grown by more than 1,200 percent. This fast increase in SNX is backed by

Synthetix (SNX)

Om Synthetix (SNX)