James Atkins
Editor
Editor
Synthetix (SNX) has outperformed the market during the past 254 hours, becoming the best-performing cryptocurrency in that time. While some of these profits are primarily attributed to a greater market recovery, there is also some outstanding platform news.
Synthetix is a cryptocurrency trading platform that allows users to trade traditional financial assets on the blockchain. Here are some of the company’s highlights.
Synthetix has made some noteworthy on-chain news as previously stated. The Synthetix platform recently introduced a new feature called “Atomic Swaps.” It allows for the creation of derivative liquidity on Synthetix.
Today, it was announced that trade volume on Atomic Swap had increased significantly. The platform is now capable of handling $200 million in a day.
This is one of the most expensive products on the market. It is much more expensive than other similar products, like 1Inch and Curver. People are buying it in large numbers, which is shown by the huge increase in trade volume.
The price increased dramatically. SNX was 100% higher at one point before retreating somewhat.
As the success of Atomic Swap grows, more investors will enter the market. The coin is expected to have a strong rally over the next seven days, bringing prices closer to $5.
The Synthetix Network Token is currently the 14th largest cryptocurrency by market capitalization. The project aims to build a decentralized synthetic asset platform that allows users to trade on the price of real-world assets.
SNX is the native token of the Synthetix network. And is used to power transactions on the platform as well as for staking purposes.
Recently, the team behind Synthetix announced that they had completed an Atomic Swap between SNX and sUSD. Two of the most popular tokens on the platform.
This is a significant milestone for the project as it now means that users can trade directly between SNX and sUSD. Without having to go through an intermediary currency.
Atomic Swaps are a game-changer for Synthetix as they open up a whole new world of possibilities for the platform.
The most important thing for any investor is the fundamentals of a project. SNX has all you would look for in a DeFi protocol, and it is growing faster than other projects.
This is the best time to invest for a long-term investor. Short-term traders may also profit from the Atomic Swap success this week by exiting around $5.50.
The introduction of Atomic Swaps has resulted in a 100% price increase for Synthetix. Atomic Swaps make it possible for users to trade directly between sUSD and SNX without the need for an intermediary currency.
Synthetix has increased by 100% in a day because of the launch of Atomic Swaps. This new feature allows users to trade directly between SNX and sUSD, without having to go through an intermediary currency.
This not only improves the user experience on the platform but also reduces the fees associated with trading.
This is an opportunity to invest in SNX either in the short or long-term depending on your objectives. However, we still counsel that you do your findings before investing in cryptocurrency.
All said and done, we still desire to know what you think about Synthetix. Please hit the comment section and share your thoughts!
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
