Volumes at Synthetix surpassed its nearest DEX competitor, but contracting user activity across decentralized exchanges could be a red flag.

CoinTelegraph

Synthetix (SNX) trading volume overtakes GMX, but is the DEX token rally sustainable?

Synthetix made an important announcement about extending its perps support for seven cryptocurrencies. However, SNX was the victim of some selling pressure in the last 24 hours.

AMB Crypto

All you need to know about Synthetix’s latest move

Decentralized finance (DeFi) protocol Synthetix could potentially burn a significant percentage of its supply if the project moves forward with a proposal from its founder. In a new blog update, Synthetix creator Kain Warwick lays out 12 different suggestions or opportunities for the project moving forward. One of Warwick’s 12 points includes a 3:1 split The post Millions of Synthetix (SNX) Tokens Could be Burned in New Proposal From Founder appeared first on The Daily Hodl .

The Daily Hodl

Millions of Synthetix (SNX) Tokens Could be Burned in New Proposal From Founder

PEPE and XRP now available for trading on decentralized platform Synthetix

U.Today

XRP and PEPE Coin Achieve Listing On Major Decentralized Exchange

Kain Warwick, the founder of Synthetix, has announced twelve proposals to incentivize the next phase of the project.

TheBlock

Synthetix founder wants to buyback and burn millions of SNX tokens

Synthetix (SNX) is seeing growth in its DeFi influence, which has trickled down to its price

Synthetix (SNX) Price Jumps 15% in Response to New DeFi Investor Embrace

PEPE coin mania is fueling intense rallies across the altcoin landscape in May. SNX is soaring Thursday after a proposal to add support for PEPE to the Synthetix blockchain.

Crypto Potato

PEPE Madness Transitions: Synthetix (SNX) Soars 10% on Proposal to Add Pepe Coin

SNX surged overnight as the Synthetix community weighs integrating the popular meme cryptocurrency PEPE into its DeFi offering.

Decrypt

DeFi Token Synthetix Soars 10% as Community Mulls PEPE Market Launch

Synthetix (SNX) founder Kain Warwick explains how new phase of meme coin mania can boost L2s' massive adoption

"First Meme Coin on L2 Will Shift This Equilibrium", Ethereum (ETH) Veteran Comments on New Hype

In this Synthetix Network (SNX) price prediction 2023, we will analyze the price patterns of SNX by using accurate trader-friendly

The News Crypto

Synthetix Network (SNX) Price Prediction 2023 — Will SNX Hit $5 Soon?

A Chainlink exec said the oracles will improve GMX’s security by providing a more “strong degree of tamper-resistance when settling user trades.”

Decentralized exchange GMX votes to use Chainlink low-latency oracles

The cryptocurrency experienced a significant contraction today, with the total market capitalization seeing a net reduction of $50.7 billion. As it stands, the total crypto market cap is $1.24 trillion, marking a 4.11% decrease from the previous day. How might this sudden downturn affect the selection of the best cryptos to buy now?... Read More: Best Crypto to Buy Now 19 April – Radix, Synthetix Network, Internet Computer

cryptonews

Best Crypto to Buy Now 19 April – Radix, Synthetix Network, Internet Computer

Synthetic launched its new Perps Optimism Trading Incentives program, which is based on SIP-2003. As part of the program, up to 300,000 weekly OP will be awarded to traders.

Decoding ‘Synthetix Optimism Trading Incentives’ for SNX traders to avoid losses

DWF Labs made headlines with flurry of investments in crypto projects such as CryptoGPT or Synthetix. A closer examination reveals that many of their deals aren’t typical venture capital investments. However, the firm says it’s all a misunderstanding.

CoinDesk

Crypto Market Maker DWF Labs’ More Than $200M in Deals Blur What ‘Investing’ Means

The cryptocurrency market is currently navigating a period of uncertainty, with Bitcoin (BTC) demonstrating resilience by maintaining its position close to the $28,000 mark. Amid market turbulence, Bitcoin has remained relatively stable, trading at $27,860 as it trades about even for the day so far. How might the current market conditions influence the selection of the best cryptos to buy now?... Read More: Best Crypto to Buy Now 3 April – SNX, ADA, STX

Best Crypto to Buy Now 3 April – SNX, ADA, STX

Synthetix generated more than $730K in fees on March 30 ahead of the start of its allocation of 200,000 OP tokens to traders.

Decentralized Liquidity Platform Synthetix Sees Jump in Fees Collected Amid Incentive Campaign

Synthetix Governance gave the green light to add Arbitrum [ARB] to Synthetix Perps. Metrics looked bullish on SNX and suggested a trend reversal. Synthetix [SNX] Perps v2 has been registering quite a few achievements of late. The latest one was its cumulative volume, which reached nearly $2 billion. However, since then, Dune’s data revealed that

Synthetix Perps adds Arbitrum [ARB] as SNX sets up a show, more inside

Derivatives liquidity protocol Synthetix seals a new partnership with DWF Labs, landing a $20 million investment from the quantitative trading firm.

Synthetix nets $20M from Web3 quant trading firm

In order to increase SNX token liquidity and market making on both centralized and decentralized exchanges, the Synthetix Treasury Council

Synthetix Treasury Council Establishes Strategic Partnership with DWF Labs Raising $20 Million in Funding

DWF Labs purchased $15 million worth of Synthetix's native token SNX on March 16 with a further purchase of $5 million to follow.

Market Maker DWF Labs Invests $20M in Derivatives Trading Platform Synthetix

SNX’s revenue and fees spiked in recent days, but metrics were bearish. Market indicators showed signs of recovery and suggested a price uptick. Synthetix [SNX] continues to make news with its achievements, the latest being Perps V2. Synthetix revealed in a recent tweet that Perps V2’s cumulative volume reached nearly $2 billion, while its daily

Can Synthetix Perps v2 achievement save SNX from the bears

A mysterious investor is scooping up an Ethereum-based (ETH) altcoin that has more than doubled up in price so far this year. According to new data from blockchain-tracking service Lookonchain, an unnamed institution spent $10 million worth of USD Coin (USDC) to purchase 3.4 million Synthetix (SNX), a decentralized asset issuance project, during the last The post Mysterious Institutional Investor Scoops Up Ethereum-Based Altcoin That Rallied 126% This Year: On-Chain Data appeared first on The Daily Hodl .

Mysterious Institutional Investor Scoops Up Ethereum-Based Altcoin That Rallied 126% This Year: On-Chain Data

Major cryptocurrencies have pulled back sharply from earlier intra-day highs, but the bullish trend of the last few days remains strongly intact, with the likes of Bitcoin breaching key resistance to the upside and opening the door to further gains in the coming days and weeks.... Read More: Best Crypto to Buy Now 14 March – CFX, LHINU, SNX, FGHT, OP, CCHG

Best Crypto to Buy Now 14 March – CFX, LHINU, SNX, FGHT, OP, CCHG

The cryptocurrency market has risen by 7.5% in the past 24 hours, with its total cap reaching $1.05 trillion after what had been a difficult weekend. Indeed, the market's value had plunged to as low as $966 billion on Saturday, following the news of the collapse of Silicon Valley Bank.... Read More: Top 10 Biggest Crypto Gainers Today: SNX, FIL, MKR, RNDR, STX – Find Out More Here

Top 10 Biggest Crypto Gainers Today: SNX, FIL, MKR, RNDR, STX – Find Out More Here

Synthetix positioned to help DeFi protocols with its deep liquidity pools

Synthetix (SNX) Up 30% After Hitting this Important Growth Metrics

An under-the-radar decentralized exchange (DEX) altcoin jumped by 20% on Friday, defying a nearly universal crypto market downtrend. Kwenta (KWENTA) is a derivatives DEX that offers exposure to real-world and on-chain synthetic assets using the Synthetix (SNX) protocol. Its native token, KWENTA, rallied from a low of $400.96 on March 10th to its current value The post DeFi Altcoin Defies Crypto Downtrend, Surges 51% This Week Amid Skyrocketing Trading Volume appeared first on The Daily Hodl .

DeFi Altcoin Defies Crypto Downtrend, Surges 51% This Week Amid Skyrocketing Trading Volume

The P/S ratio went up while the total value locked on SNX declined. Supply outside of exchanges increased but the key metrics looked bearish. Synthetix [SNX] witnessed a major surge in its Perps V2 exchange as its daily volume reached $100 million. This indicated an increased number of investors in the network, as crypto traders

Synthetix Perps v2 reaches a new milestone, but here’s the caveat

Kwenta, which uses Synthetix’s infrastructure for its perpetual product, has seen trading volumes surge in the past few weeks.

Kwenta DEX Lures Traders to Capture Bitcoin, Ether Returns Regardless of Direction

After a solid start to the day, Synthetix’s (SNX) market has plummeted as bulls failed to break above the intra-day high of $3.26. Owing to the bulls’ hesitation, the bears grasped the wheel and pushed the SNX price down until support was established at around $3.05. The SNX price is now lingering around the support The post SNX Market Bears Lose Steam, Is There a Bullish Reversal Ahead? appeared first on Coin Edition .

Coin Edition

SNX Market Bears Lose Steam, Is There a Bullish Reversal Ahead?

Many major coins have seen significant gains so far in 2023, which has been a great start for the cryptocurrency

Cryptocurrencies to Keep an Eye on for the Week

The Graph Price Prediction 2023-2032 The Graph Price Prediction 2023 – up to $0.23 The Graph Price Prediction 2026 – up to $0.73 The Graph Price Prediction 2029 – up to $2.19 The Graph Price Prediction 2032 – up to $7.03 Have you ever heard of Uniswap, Aave, Compound, Balancer, USDC, Synthetix, Sushiswap, MakerDAO, Yearn, … The Graph Price Prediction 2023-2032: Is GRT a Good Investment? Read More »

Cryptopolitan

The Graph Price Prediction 2023-2032: Is GRT a Good Investment?

As we enter the week of March 6, the cryptocurrency market has taken a downturn, with many assets experiencing corrections. … Continued The post Cryptocurrencies to watch for the week of March 6, 2023 appeared first on Finbold .

Finbold

Cryptocurrencies to watch for the week of March 6, 2023

SNX hits a brick wall in its attempts to push to a new 2023 high. Short sellers should exercise caution as SNX’s relative strength leans in favor of a limited retracement. Synthetix’s native token SNX is among the few cryptocurrencies that managed to maintain a bullish bias in the last two weeks. This, at a

SNX fails to push past $3 wall despite Synthetix V3 mainnet milestone

An increasingly popular crypto strategist believes that two decentralized finance (DeFi) tokens could be gearing up for breakouts. Pseudonymous analyst Cantering Clark tells his 161,400 Twitter followers that DYDX, the native asset of decentralized exchange (DEX) dYdX, is trading above a key support level at around $2.84 and could be setting up to take out The post Two DeFi Altcoins Showing Signs of Imminent Breakouts, According to Top Crypto Trader appeared first on The Daily Hodl .

Two DeFi Altcoins Showing Signs of Imminent Breakouts, According to Top Crypto Trader

The latest report from the Conference Board shows that consumer confidence in the US has fallen for the second consecutive month in February, with households becoming increasingly pessimistic about the future. According to the index, the Expectations Index has dropped to 69.7, indicating a high likelihood of a recession within 12 months.... Read More: Best Crypto to Buy Today 28th February – FGHT, XEM, CCHG, SNX, METRO, AGIX, TARO

Best Crypto to Buy Today 28th February – FGHT, XEM, CCHG, SNX, METRO, AGIX, TARO

Synthetix Price Prediction 2023-2032 Synthetix Price Prediction 2023 – up to $4.30 Synthetix Price Prediction 2026 – up to $12.81 Synthetix Price Prediction 2029 – up to $40.56 Synthetix Price Prediction 2032- up to $125.46 Cryptocurrency adoption is on exponential growth, especially altcoins and, more so, those associated with decentralized finance (DeFi). One of the … Synthetix Price Prediction 2023-2032: Is SNX a Good Investment? Read More »

Synthetix Price Prediction 2023-2032: Is SNX a Good Investment?

Investors looking for the best crypto to buy today are keeping a close eye on the cryptocurrency market as it prepares for a significant week of economic data. Later today, the United States durable goods orders are set to be released, followed by consumer confidence figures on Tuesday.... Read More: Best Crypto to Buy Today 27th February – FGHT, STX, METRO, NEO, CCHG, SNX, TARO

Best Crypto to Buy Today 27th February – FGHT, STX, METRO, NEO, CCHG, SNX, TARO

Synthetix’s trading volume went up considerably in the last few weeks. Fees and revenue also increased, but TVL plateaued. Recently, Synthetix [SNX] got into the spotlight, thanks to its trading volume. Token Terminal revealed that SNX’s trading volume registered a considerable uptick over the last few weeks. The metric spiked during the second week of

Synthetix: Massive growth noted in these areas, but DeFi performance stagnant

Cryptocurrency markets have taken a knock, with total market capitalization down over $30 billion or 3.0% on Friday in wake of a hotter-than-expected US Core PCE inflation report that raises the risk the US Federal Reserve lifts interest rates to higher levels for longer. MoM and YoY price pressures both unexpectedly rose in January, according to the latest report, to 0.6% and 4.7% respectively.... Read More: Best Crypto to Buy Today 24 February – FGHT, IOTA, METRO, SNX, CCHG

Best Crypto to Buy Today 24 February – FGHT, IOTA, METRO, SNX, CCHG

Synthetix holds over $500 million in locked tokens over the Ethereum and Optimism networks.

DeFi Liquidity Protocol Synthetix Deploys Version 3 on Ethereum

Synthetix’s volume decreased in Q4 2022 but its daily active users increased. In fact, SNX’s inflation rate reached 10% on an annualized basis. Messari recently published Synthetix’s [SNX] 2022 quarter 4 report, which highlighted its performance on several fronts during the concluding months of 2022. While a few of the updates were in Synthetix’s favor,

Assessing Synthetix’s Q4 2022 performance and what to expect in 2023

Synthetix is set to roll out its V3 feature soon. SNX faced a resistance wall as the bears attempted an assault. The crypto market has demonstrated a healthy recovery since January 2023, and, as a result, there has been increased activity in the DeFi world. Synthetix is among the companies that are capitalizing on this

Synthetix V3 development: All about the debt pool, legacy market, and more

After a string of rapid interest rate increases throughout 2022, the Federal Reserve Board has implemented its smallest rate rise since March at a quarter of a percentage point. This decision for moderation was welcomed by markets, causing stocks and crypto markets to move up. With this backdrop, what are the best cryptos to buy today?... Read More: Best Crypto to Buy Today 2 February – MEMAG, OP, FGHT, SNX, CCHG

Best Crypto to Buy Today 2 February – MEMAG, OP, FGHT, SNX, CCHG

WhaleStats reports that Rocket Pool’s RPL is now among the top 10 most purchased tokens. It falls into this category based on the activities of the 500 biggest ETH whales in the past 24 hours. Also on the list are Uniswap’s UNI, and the SNX of the Synthetic Network Token. RPL has been on a The post ETH Whales Focus on RPL as Token’s Value Skyrockets appeared first on Coin Edition .

ETH Whales Focus on RPL as Token’s Value Skyrockets

The cryptocurrency market has risen by 1.5% in the past 24 hours, recovering some of the losses from its slight selloff yesterday. At $1.01 trillion, its total cap has risen by 7% in a week and by 20% in a month, with positive US inflation figures published last week causing a mini-recovery.... Read More: Best Crypto to Buy Today 20th January – NEXO, MEMAG, HBAR, FGHT, ENJ, CCHG, APE, RIA, SNX, TARO, D2T

Best Crypto to Buy Today 20th January – NEXO, MEMAG, HBAR, FGHT, ENJ, CCHG, APE, RIA, SNX, TARO, D2T

Synthetix price up 13% to complement steady growth in TVL

Synthetix (SNX) Up 13% to Lead DeFi Push, What is Driving the Growth?

Optimism’s TVL lagged behind Arbitrum despite upgrades to protocol. Synthetix adoption drove transaction growth on Optimism, but daily active address suggested a decline in overall activity. Despite Optimism [OP] having the first mover advantage in the Layer 2 solutions space, newer solutions such as Arbitrum have outperformed the former in terms of Total Value Locked

Will Optimism’s [OP] upgrades be enough to sustain the L2 race? Analyzing…

In its latest quarterly update, Grayscale announced the rebalancing of funds for the fourth quarter of 2022. As part of the rebalancing, Grayscale sold off a certain amount of its Digital Large Cap Fund and dumped its held tokens, including Avalanche Network token AVAX. AVAX has slipped by 2% following the sell-off in the past 24 hours. According to Grayscale, the sold-off AVAX tokens were replaced with the purchase of the existing fund components in proportion to their respective weightings. Grayscale Purchased And Existing Tokens The AVAX sell-off was only part of the CoinDesk Large Cap Select Index and Grayscale Digital Large Cap Fund. In its CoinDesk Smart Contract Platform Select Ex ETH Index and Grayscale Smart Contract Platform Ex-Ethereum Fund portfolio rebalancing, the company sold off Algorand native token ALGO. In its CoinDesk DeFi Select Index methodology, Grayscale adjusted its DeFi Fund’s portfolio and purchased Synthetix (SNX) after selling some existing assets. Related Reading: Grayscale Says It May Return 20% Of Investor Capital, Bitcoin Refuses To Budge As of now, the Grayscale portfolio fund now includes 65% Bitcoin (BTC), 30% Ethereum (ETH), 1.86% Cardano (ADA), 1.39% Polygon (MATIC), and 1% Solana (SOL). Meanwhile, its DeFi Fund’s Fund Components include 65.05% Uniswap (UNI), 12.39% Aave (AAVE), 8.15% MakerDAO (MKR), 6.02% Synthetix (SNX), 4.58% Curve DAO Token (CRV), and 3.81% Compound (COMP). Since July, Grayscale has been carefully monitoring the CoinDesk Large Cap Select Index. The index launched in April tracks the market capitalization-loaded performance of “the largest and most liquid digital assets.” During Grayscale usage of the Index, the quarterly scheduled rebalancing resulted in the dumping of Bitcoin Cash (BCH), Litecoin (LTC), Chainlink (LINK), Polkadot (DOT), and more Uniswap (UNI) purchases. AVAX Slips After Grayscale Dumped Before the sell-off, AVAX was still sitting at a $12 zone; however, after Grayscale dumped its holdings, the AVAX token dropped by 2% and traded at $11.39 Friday morning. AVAX has appreciated over the past months. It has surged from around $9 to $13. Notably, Grayscale fund’s portfolio, which currently has $163 million in assets under management (AUM), only held a small portion of AVAX tokens. As of September 30, AVAX made up less than 1% of the company’s fund’s assets, according to its previous quarterly report. Related Reading: Avalanche: Will 2023 Bring A Fruitful Recovery For The AVAX Ecosystem? There was no significant move from ALGO, which was also removed from the Grayscale portfolio fund. It fell from a range of $0.17 to $0.15. As of the time of writing, ALGO currently trades at $11.73 with a 24-hour trading volume of $45 million. On the other hand, AVAX seems to be gaining momentum to the upside at the time of writing as it has already formed a retracement; a reversal is likely to happen. AVAX currently trades at $11.73, down by 0.8% in the last 24 hours, with a trading volume of $125 million over the same period.

NewsBTC

AVAX Value Drops By 2% Following Grayscale Removal of Avalanche From Large Cap Fund

SNX drops to a key support level and ETH whales are accumulating. Why a sharp bounceback might not be on the cards. Synthetix’s native token SNX has been tumbling for many moons as has been the case for most cryptocurrencies. Multiple signs indicate that a potential bullish takeover might be on the way and here’s

SNX finds favor with ETH whales but is it enough to turn things around?

CME Group and CF Benchmark launched reference rates and real-time indices for Aave, Synthetix, and Curve.

Synthetix (SNX)

Om Synthetix (SNX)