{"id":493518,"date":"2022-06-20T14:44:20","date_gmt":"2022-06-20T14:44:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=493518"},"modified":"2024-06-11T14:20:43","modified_gmt":"2024-06-11T14:20:43","slug":"synthetix-snx-price-up-by-100","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/synthetix-snx-price-up-by-100\/","title":{"rendered":"Synthetix (SNX) Price, Monday’s Biggest Gainer, Balloons By 100% – Here’s Why"},"content":{"rendered":"

After plunging below $18,000 over the weekend to trade at a price of SNX, the native token of Synthetix decentralized finance (DeFi) platform, has gained more than 100% to usher in the week.<\/p>\n

SNX has proven to be the stock with the biggest rise on Monday. The token’s 24-hour trading volume has increased by more than 1,200% to $322 million, according to data from CoinMarketCap.<\/p>\n

This indicates that investors are pouring money into the token despite its poor performance last week, as it has been put up for bid. Additionally, this abrupt growth in SNX is supported by the increasing daily network volume as a result of its new function.<\/p>\n

Suggested Reading | Bitcoin Climbs Back Above $20K, A Bit Of A Relief To The Sinking Crypto Market<\/a><\/em><\/strong><\/p>\n

Synthetix is a Layer-2 scaling solution that provides on-chain exposure to a wide variety of crypto and non-crypto assets. It recently partnered with liquidity provider Curve Finance to create Curve pools for sETH\/ETH, sUSD\/3CRV, and\u00a0 sBTC\/BTC,\u00a0allowing investors to convert synths such as sETH to Ether (ETH) at more affordable rates.<\/p>\n

Synthetix Token Climbs By Half In Seven Days<\/h2>\n

The Synthetix token is selling at $3.05 at the time of writing, a 50 percent increase over the past week. The latest price increase has assisted the token in erasing its deficit from the\u00a0\u00a0ongoing\u00a0market meltdown.<\/p>\n

<\/p>\n

The price increase of SNX is not only attributable to optimistic perceptions surrounding Bitcoin at the start of the week, but also to investors’ eagerness to hold tokens instead of synths and the protocol’s ability to generate more than $1 million in trading fees, five times greater than BTC’s daily performance.<\/p>\n

When token holders pledge their SNX as collateral using Mintr, a decentralized platform for engaging with Synthetix contracts, synthetic assets are created. Currently, the protocol supports synthetic\u00a0fiat currencies, cryptocurrencies, and commodities.<\/p>\n

SNX At No. 87 On The Global Rankings<\/h2>\n

The Synthetix coin is trading slightly over its 52-week low. Any decrease in the price of Bitcoin could cause the price of SNX to decrease as well.<\/p>\n

Among the almost 20,000 cryptocurrencies, SNX crypto is listed on the No.\u00a087 spot. The SNX cryptocurrency can be traded on crypto exchanges such as Binance and Uniswap.<\/p>\n

The cryptocurrency market is showing signs of revival, as its valuation increased by 8.5% from the previous day to reach $879 billion. However, it is essential to recognize that the crypto market as a whole is experiencing a moment of tremendous instability.<\/p>\n

Featured image from Cryptona, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"

After plunging below $18,000 over the weekend to trade at a price of SNX, the native token of Synthetix decentralized finance (DeFi) platform, has gained more than 100% to usher in the week. SNX has proven to be the stock with the biggest rise on Monday. The token’s 24-hour trading volume has increased by more than 1,200% to $322 million, according to data from CoinMarketCap. This indicates that investors are pouring money into the token despite its poor performance last week, as it has been put up for bid. Additionally, this abrupt growth in SNX is supported by the increasing daily network volume as a result of its new function. Suggested Reading | Bitcoin Climbs Back Above $20K, A Bit Of A Relief To The Sinking Crypto Market Synthetix is a Layer-2 scaling solution that provides on-chain exposure to a wide variety of crypto and non-crypto assets. It recently partnered with liquidity provider Curve Finance to create Curve pools for sETH\/ETH, sUSD\/3CRV, and\u00a0 sBTC\/BTC,\u00a0allowing investors to convert synths such as sETH to Ether (ETH) at more affordable rates. Synthetix Token Climbs By Half In Seven Days The Synthetix token is selling at $3.05 at the time of writing, a 50 percent increase over the past week. The latest price increase has assisted the token in erasing its deficit from the\u00a0\u00a0ongoing\u00a0market meltdown. The price increase of SNX is not only attributable to optimistic perceptions surrounding Bitcoin at the start of the week, but also to investors’ eagerness to hold tokens instead of synths and the protocol’s ability to generate more than $1 million in trading fees, five times greater than BTC’s daily performance. When token holders pledge their SNX as collateral using Mintr, a decentralized platform for engaging with Synthetix contracts, synthetic assets are created. Currently, the protocol supports synthetic\u00a0fiat currencies, cryptocurrencies, and commodities. SNX At No. 87 On The Global Rankings The Synthetix coin is trading slightly over its 52-week low. Any decrease in the price of Bitcoin could cause the price of SNX to decrease as well. Among the almost 20,000 cryptocurrencies, SNX crypto is listed on the No.\u00a087 spot. The SNX cryptocurrency can be traded on crypto exchanges such as Binance and Uniswap. The cryptocurrency market is showing signs of revival, as its valuation increased by 8.5% from the previous day to reach $879 billion. However, it is essential to recognize that the crypto market as a whole is experiencing a moment of tremendous instability. Featured image from Cryptona, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":493519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,86199,86200],"tags":[428,6664,54512,83543,83358],"class_list":["post-493518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-snx","category-synthetix","tag-bitcoin","tag-crypto","tag-defi","tag-snx","tag-synthetix"],"acf":[],"yoast_head":"\nSynthetix (SNX) Price, Monday's Biggest Gainer, Balloons By 100% - Here's Why<\/title>\n<meta name=\"description\" content=\"After plunging below $18,000 over the weekend to trade at a price of SNX, the native token of Synthetix decentralized finance (DeFi) platform, has gained\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/synthetix-snx-price-up-by-100\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Synthetix (SNX) Price, Monday's Biggest Gainer, Balloons By 100% - 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Synthetix (SNX) Price, Monday’s Biggest Gainer, Balloons By 100% – Here’s Why","url":"http:\/\/ktsl888.com\/news\/synthetix-snx-price-up-by-100\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/synthetix-snx-price-up-by-100\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Synthetix.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Synthetix.png?fit=1920%2C1080"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","defi","snx","synthetix"],"dateCreated":"2022-06-20T14:44:20Z","datePublished":"2022-06-20T14:44:20Z","dateModified":"2024-06-11T14:20:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Synthetix (SNX) Price, Monday’s Biggest Gainer, Balloons By 100% – Here’s Why\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/synthetix-snx-price-up-by-100\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/synthetix-snx-price-up-by-100\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Synthetix.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Synthetix.png?fit=1920%2C1080\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"defi\",\"snx\",\"synthetix\"],\"dateCreated\":\"2022-06-20T14:44:20Z\",\"datePublished\":\"2022-06-20T14:44:20Z\",\"dateModified\":\"2024-06-11T14:20:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Synthetix.png?fit=1920%2C1080","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/493518"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=493518"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/493518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/493519"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=493518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=493518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=493518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}