Tag: snxusd

Feb 05 2021

Synthetix (SNX) ‘Bellatrix’ update makes “shorting” easy for DeFi users

Feb 05 2021 Published at CryptoSlate under tags  price watch snxusd technology trading

Yesterday saw the launch of an easy “shorting” provision for users of the DeFi app, shooting the prices of its token by 11%. You can now short on Synthetix Decentralized finance app Synthetix (SNX) saw the deployment of the “Bellatrix” update yesterday, as per a release. The update opens up newer...

Feb 01 2021

Synthetix launches sXAG markets as internet traders begin pumping silver

Feb 01 2021 Published at CryptoSlate under tags  defi dogeusd investments snxusd trading

The metal gained over 11% in the past day, setting an eight-year high price. Meanwhile, synthetic crypto assets platform Synthetix launched the sXAG token, an ERC-20 issuance that tracks the prices of the shiny metal. Internet traders fuel silver rally Who said people on social media couldn’t influence markets? The latest price surges in a number of assets are proving...

Jan 31 2021

DEX tokens soar as trust in centralized exchanges is eroding

Jan 31 2021 Published at CryptoSlate under tags  aaveusd adoption altcoins analysis defi

While the past week has been somewhat tumultuous, to put it mildly, for both crypto and stock markets, it looks like digital tokens related to decentralized exchanges (DEXs) are actually having a great time. The sector is in the green across the board as most DEX tokens are up anywhere between 1.3% and 317% over the last seven days, according to CryptoSlate’s data....

Jan 16 2021

The future of finance: Synthetix just launched staking on Optimistic Ethereum

Jan 16 2021 Published at CryptoSlate under tags  defi ethusd snxusd

Congestion has been a theme for Ethereum over the past few months. Not to say that this is an explicitly bad thing but during times of volatility, it can cost over $50 to trade on Uniswap, and even more to complete more complex (and often pertinent) Ethereum transactions. This comes in spite of the fact that if you think about it, Ethereum...

Jan 06 2021

Altcoins explode higher: Synthetix, Uniswap, and more rally by over 20%

Jan 06 2021 Published at CryptoSlate under tags  adoption altcoins price watch scusd snxusd

"Altcoin season" may have begun as coins aside from Bitcoin and Ethereum take center stage, outperforming strongly against BTC and the U.S. dollar. Nearly every cryptocurrency in the top 100 by market capitalization is up in the past 24 hours, save for Tron (TRX), NEXO, stablecoins, and...

Jan 05 2021

Seven things the DeFi suite can do for you in 2021

Jan 05 2021 Published at CryptoSlate under tags  compusd defi ethusd guest post snxusd

DeFi was the hottest topic of the year in the 2020 crypto realm. It has ruffled feathers and disrupted the financial world as blockchain technology transcends simple value transfer to include other financial services. DeFi is a game-changer, innovation at the forefront, a promise, the next step to a global financial ecosystem where anyone, anywhere, at any time can access a variety of...

Dec 23 2020

Synthetix DeFies odds, surges 30% despite Ethereum drop from year-to-date highs

Dec 23 2020 Published at CryptoSlate under tags  altcoins analysis defi ethusd price watch

For most of the past 48 hours, the crypto market was blood red. Bitcoin had dipped from $24,300, its weekend highs, to $21,800 at the local lows, as Ethereum slipped under $600 for the first time in many weeks. This move resulted in a strong move lower in many smaller-cap altcoins, which fell against the dollar by around double the amount BTC did....

Dec 15 2020

SushiSwap and Synthetix lead DeFi tokens in recovery amid widespread consolidation

Dec 15 2020 Published at Coingape under tags  altcoin news defi news news price analysis snx

The cryptocurrency market is in consolidation but SNX and SUSHI are flying the bullish flag high. Synthetix is poised for a 60% upswing above the ascending triangle pattern. The...

Nov 09 2020

What’s the deal with DeFi “blue chips”? SNX, AAVE, YFI surge 100 percent off lows

Nov 09 2020 Published at CryptoSlate under tags  aaveusd altcoins defi snxusd yfiusd

If you've been following Ethereum Twitter over the past few days, you've likely seen the term "blue chip" mentioned time and time again in reference to certain DeFi projects. In traditional finance, a blue-chip company is one that is seen as reputable and steady, with the ability to perform well in any market conditions. The same goes for crypto. The reason why so...

Oct 23 2020

Synthetix founder calls Bitcoin’s weekly chart the “most bullish thing” he has seen

Oct 23 2020 Published at CryptoSlate under tags  analysis btcusd price watch snxusd

Bitcoin's price action over recent weeks and months has undoubtedly been bullish. In the face of macroeconomic turmoil and the worst pandemic in a century, the leading cryptocurrency has shot higher. In the past week alone, the price of one BTC has gained just under $2,000. The cryptocurrency is expected to move even higher in the weeks ahead as the fundamentals and technicals...

Oct 22 2020

DeFi Success Story Continues as TVL Peaks Yet Again; Hits $12 Billion

Oct 22 2020 Published at Coingape under tags  chainlink defi defi news ethusd linkusd

The Paypal news triggered massive bullish momentum for Bitcoin which broke above $13k and climbed to levels not seen since last year. This was followed by the rest of the cryptocurrency market following suit which also soared to fresh highs. But the...

Oct 16 2020

Synthetix Network Token DeFi Dominance Tanks Amid Looming Breakdown

Oct 16 2020 Published at Coingape under tags  altcoin news defi news news price analysis snx

Synthetix declines on hiatus amid low volatility and volume. Recovery is likely to hit a snag at the 21-day SMA, which could send SNX back to the drawing board. The decentralized finance (DeFi) craze appears to have hit pause. It seems this the time tokens in the sector have to prove their worth to investors. The post Synthetix Network Token DeFi Dominance Tanks...

Oct 11 2020

DeFi Booms In Q3 As LEND, YFI, UMA, LINK Posts Outsized Gains Over 100%

Oct 11 2020 Published at Coingape under tags  chainlink defi defi news lendusd linkusd

DeFi activity saw a massive boom in the third quarter of the year. This September, several DeFi tokens sustained severe pullbacks along with numerous market corrections. Despite this, these tokens continued to lead the pack. This was...

Oct 04 2020

An Ethereum scaling solution is near—a DeFi founder thinks it will “melt faces”

Oct 04 2020 Published at CryptoSlate under tags  analysis eth 2.0 ethusd snxusd technology

While Ethereum has become much less congested than it was just weeks ago, transaction fees are still far from cheap. It may cost $10-20 to complete interactions with decentralized finance protocols such as Compound, MakerDAO, or Synthetix. That's not enough to break the bank, of course, but it restricts many users from accessing these protocols and the rest of the Ethereum ecosystem. This...

Sep 29 2020

DeFi critics criticize freezing of $130m in Kucoin crypto: here’s what they get wrong

Sep 29 2020 Published at CryptoSlate under tags  defi exchanges oceanusd snxusd

KuCoin underwent a brutal hack last week that resulted in millions of dollars worth of coins lost. While the first number reported was $150~160 million due to a lack of transparency on part of the exchange, new information suggests that up to $250 million worth of coins were siphoned out of the exchange's accounts over a few hours. Most of the tokens were...

Synthetix Network Token (SNX) rebounds as on-chain strength flourishes

Sep 29 2020 Published at CryptoSlate under tags  analysis defi price watch snxbtc snxusd

Synthetix Network Token’s price has seen some volatility over the past couple of days, with inflows of selling pressure coming about due to the massive amount of SNX tokens stolen due to the recent KuCoin hack. Buyers were aggressive with absorbing this selling pressure, however, and have since pushed the cryptocurrency higher as its mid-term...

Synthetix founder speaks on Kucoin hack of $2.5m in SNX, millions in other DeFi coins

Sep 29 2020 Published at CryptoSlate under tags  defi exchanges hacks people snxusd

Late last week, KuCoin, a notable Singapore-based exchange known for its large offering of altcoins, bit the dust. Blockchain analysts recorded a series of suspicious withdrawals from the company's hot wallets that suggested the crypto exchange was hacked. Around eight hours after the withdrawals, it was revealed that a hack had happened, through which millions were lost in...

Sep 26 2020

Responding to 1,000%+ spike in Ethereum fees, Synthetix is testing layer-2 tech

Sep 26 2020 Published at CryptoSlate under tags  altcoins defi price watch snxusd

It's been quite the year for DeFi. But due to natural constraints on the Ethereum blockchain, this period of growth has meant that transaction fees have quickly reached unsustainable levels for most users where it makes little sense to transact small sums. Synthetix, especially, has suffered from these high fees. Due to how the protocol works, users looking to interact with Synthetix's multiple...

Sep 24 2020

Synthetix’s founder: crypto and DeFi still in the earliest inning of its next growth cycle

Sep 24 2020 Published at CryptoSlate under tags  analysis defi snxusd

As Bitcoin and especially Ethereum's DeFi ecosystem has drawn down from its recent highs, analysts have been left wondering what phase of the market cycle are cryptocurrencies in. Is this the early innings of a bull market or the start of another bear trend? According to Kain Warwick, the founder of Synthetix and a long-time crypto market participant (since 2012), ongoing price...

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