One decentralized finance (DeFi) altcoin project is surging amid the rollout of a highly anticipated network revamp.
In the past there days, Synthetix Network (SNX), a protocol that allows users to trade synthetic assets, shot up from a low of $1.91 to a high of $2.51, a more than 32% increase.
As the rally took off, blockchain tracking firm Lookonchain noticed one crypto whale withdrew a massive 3.44 million SNX worth $7.72 million from top crypto exchange Binance.
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Last week, the project announced the latest progress on the launch of Synthetix V3, an upgrade of the ecosystem almost two years in the making that it describes as the “liquidity layer for DeFi.” According to a new blog post, all of the final main net alpha
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