This DeFi Token Surged 230 Percent in 30 Days, Binance Announced Listing

SNX, one of the biggest tokens in the DeFi world, has doubled it's value in a month. Binance started listing the token today.

Binance, the most popular crypto exchange, announced today that, the main token of Ethereum-based DeFi trading platform Synthetix Network is listed as today.

DeFi token SNX gained more than double in a month

SNX token has gained more than 230% in the last 30 days. This listing is thought to help increase trading volume and make crypto more accessible to investors.

The announcement included the following statements:

Binance will list Synthetix and will be trading as of 2020/07/09 12:00 (UTC) for SNX/BTC, SNX/BNB, SNX/BUSD and SNX/USDT trading pairs. Users can now start depositing SNX to prepare for trading.

Synthetix allows users to trade cryptocurrencies, stocks, currencies, precious metals and other assets in the form of ERC-20 tokens. The system uses two types of tokens: The main Synthetix Network Token, SNX and synthetic tokens called “Synths”.

“One of the biggest…”

According to DeFi Pulse, Synthetix is ​​one of the biggest DeFi protocols in Ethereum.

Weekly SNX Chart | Source: CoinGecko
Weekly SNX Chart | Source: CoinGecko

Since June 9, the price of the token has increased from 90 cents to $3.10. This corresponds to an increase of 231 percent. With this performance, SNX became one of the top 10 assets that shows an excellent performance against Bitcoin.

The rise of DeFi tokens continues. Experts who compare this new bubble with ICO think it will explode very soon. Even so, it is important to remember that what carried bitcoin to the ATH in 2017 is the ICO. The increase in cryptocurrency trading volumes can be clearly observed. We will see what will happen together. Share your comments on DeFi tokens below.

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Disclaimer: The information in the content is not an investment advice. Author and coinalways.com are not responsible for your profit or loss. Every investment involves risks and requires knowledge.

Coin Journo
The young talent, who works in various media organizations and reticulate the industry, has carried his experience to the crypto. Co-founder @ Coin Always.

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