New Synthetix app chain aims for cross-chain liquidity for SNX staking, perps

Competition is mounting among DeFi derivatives protocols after Synthetix launched on Arbitrum in July.

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DeFi Protocol Synthetix To Launch Its Own Application Blockchain, SNAXChain

Decentralized finance (DeFi) protocol Synthetix (SNX) is working toward launching its application blockchain, dubbed SNAXChain, according to a blog post published on September 4, 2024. Synthetix SNAXChain To Launch On Optimisms Superchain Infrastructure Ethereum-based derivatives liquidity protocol Synthetix is set to unveil SNAXChain, an application blockchain built on Optimisms Superchain infrastructure.  For the uninitiated, Ethereum [...]

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Synthetixs Request To Spend 900,000 ARB Rejected: Will Arbitrum Price Recover?

Synthetix, a popular DeFi protocol, is facing challenges regarding its plans for Arbitrum, a layer-2 platform for Ethereum. According to the recent voting results, the community voted against its plans to extend its Long-Term Incentive Program (LTIP) grant. Arbitrum Holders Vote Against Synthetix Proposal The goal was to support the launch of Multi-Collateral Perps. The [...]

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Synthetix betting on new multi-collateral perps ahead of Arbitrum rollout

Synthetix faces fierce competition on the DeFi-oriented layer 2. 

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Synthetix Price Prediction for Today, May 15 SNX Technical Analysis

The Synthetix prediction price is changing hands at $2.56 as the coin moves to cross above the 9-day and 21-day moving averages. Is SNX Poised [...]

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Synthetix Bids $27M to Reacquire Derive Options

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SNX token rises as Synthetix moves to re-acquire Derive for mainnet perps

Synthetix’s SNX token today jumped 11% amid $27M Derive re-acquisition news. Synthetix plans to merge Derive’s options stack into Synthetix’s mainnet perps. The proposal will involve swapping 27 DRV for 1 SNX, with Synthetix minting new 29.3M SNX tokens. Decentralised finance (DeFi) platform Synthetix has announced a $27 million token swap deal to re-acquire options […]

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Synthetixs sUSD Stablecoin Plummets to $0.68 After Depegging

The popular synthetic USD stablecoin has experienced a significant decline in value recently, causing it to fall to new lows and depeg from its intended value. This instability has raised concerns among investors and users who rely on stablecoins for trading and financial transactions. The synthetic USD stablecoin was designed to maintain a 1:1 peg [...]

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$sUSD Depegging Crisis Deepens: Whats Behind the Ongoing Slide?

The decentralized stablecoin $sUSD, issued by Synthetix, is experiencing a rapidly growing depegging crisis. After a concerning drop, the token is now at $0.8030, a full 5% down in the last 24 hours. This steady slide has resulted in us saying that the stablecoin is fast reaching a market cap of $25.46 million, which in [...]

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Synthetix USD stablecoin plummets to 5-year low of $0.83, breaking dollar peg

As the Synthetix stablecoin peg dropped to 83 cents, concerns arose among investors in the cryptocurrency market. This sudden depegging of the stablecoin has raised uncertainties about its ability to maintain a consistent value against the US dollar. The Synthetix stablecoin, which is designed to mirror the value of the US dollar, has experienced a [...]

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Synthetix Price Prediction for Today, June 29: SNX/USD Trades Near $2.40 Resistance

The Synthetix prediction price shows that SNX is changing hands at $2.31 as the technical indicator Relative Strength Index (14) crosses above the 60-level. Synthetix [...]

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Synthetix Community Observes Slow Movement Of $SNX Token Amidst Crypto Market Surge

The Synthetix community is closely monitoring the movement of the $SNX token against the backdrop of a bullish trend in the broader cryptocurrency market.  Despite the upward trajectory seen across various digital assets, $SNX has struggled to gain momentum throughout the week, leaving investors eager for a potential breakout. According […]

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Synthetix Price Prediction for Today, March 26 SNX Technical Analysis

The Synthetix prediction price is changing hands at $5.08 as the coin moves to cross above the upper boundary of the channel. Synthetix (SNX) Surges [...]

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STORJ and Synthetix Network in opportunity zone; KangaMoon (KANG) attractive

As the cryptocurrency market battles downside pain, several altcoins have dipped to levels where they present the greatest opportunity for upside returns. Analysts at Santiment have identified Storj (STORJ) and Synthetix (SNX) as two of these altcoins. Elsewhere, there’s fresh interest in KangaMoon (KANG), a project whose presale shows increasing confidence from crypto investors. Analysts […]

The post STORJ and Synthetix Network in opportunity zone; KangaMoon (KANG) attractive appeared first on CoinJournal.

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Chainlink’s Cross-Chain Interoperability Protocol: Is CCIP the Game Changer?

In an increasingly interconnected world, the potential of blockchain technology extends far beyond isolated applications. Unveiling its grand plans, Chainlink is setting its sights on achieving full-scale blockchain interoperability with the introduction of its Cross-Chain Interoperability Protocol (CCIP). Chainlink CCIP testnet is now live. What is CCIP? Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is a protocol […]

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Synthetix Price Bounces Back: A Rising Phoenix in a Consolidated Market?

For Synthetix price, the consolidation period was marked by a strong accumulation of buying power at support prices.

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Crypto Market Rises by $30B in 48 Hours — Bitcoin Cash Leads With 88% Weekly Gain

On Sunday, June 25, the cryptocurrency market experienced a modest increase in value, climbing from $1.21 trillion two days prior to its current value of $1.24 trillion. Bitcoin has surged 15% in the past week, while ethereum has risen over 10% against the U.S. dollar. Furthermore, numerous other crypto assets have made notable gains, with [...]

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Decentralized exchange GMX votes to use Chainlink low-latency oracles

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

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Synthetix adds 7 new perpetual futures markets

Synthetix has added 7 new perpetual futures markets for XRP, DOT, FLOKI, INJ, PEPE, SUI and BLUR. The protocol will also add support for TRX, with the new perps markets available on perps trading front-ends Kwenta, Polynomial, Decentrex, and dHEDGE. Synthetix now provides SYN liquidity for 40 perpetual futures markets. Synthetix, a decentralised derivatives trading

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Bitcoin’s dull price action ignites buying interest in LINK, FIL, SNX and THETA

Bitcoin (BTC) is struggling to rise above the overhead resistance at $31,000 but a minor positive is that the bulls have not allowed the price to dive below the $29,500 support. This suggests that a catalyst may be needed for the price to break out from its range. On the macroeconomic front, the Federal Reserve’s [...]

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