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.
— Binance (@binance) July 9, 2020
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.
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.