Synthetix (SNX), currently positioned as the 54th largest cryptocurrency, has been closely aligned with the overall market trend. Over the past 30 days, SNX has experienced a substantial uptrend of 60%, while its year-to-date performance shows an impressive price increase of over 108%.
These notable achievements indicate the potential for continued bullish momentum for the decentralized protocol and its native token.
Significant Growth For Synthetix As Demand For On-Chain Derivatives Surges
Renowned cryptocurrency analyst and writer, Jake Pahor, has expressed a highly optimistic outlook on SNX, hailing it as the ultimate “picks & shovels play” in anticipation of the forthcoming bull market.
Pahor highlights Synthetix’s pivotal role as the backbone for derivatives trading in the decentralized finance (DeFi) sector. The protocol has already amassed an annualized revenue of $54 million, serving as a platform that enables the creation and trading of synthetic assets such as c
We współpracy z: https://www.newsbtc.com/snx/synthetix-snx-shines-as-tvl-hits-670m-analyst-predicts-continued-upswing/
