Synthetix (SNX) Price, Monday’s Biggest Gainer, Balloons By 100% – Here’s Why

Synthetix (SNX) Price, Monday’s Biggest Gainer, Balloons By 100% – Here’s Why


After plunging below $18,000 over the weekend to trade at a price of SNX, the native token of Synthetix decentralized finance (DeFi) platform, has gained more than 100% to usher in the week.

SNX has proven to be the stock with the biggest rise on Monday. The token’s 24-hour trading volume has increased by more than 1,200% to $322 million, according to data from CoinMarketCap.

This indicates that investors are pouring money into the token despite its poor performance last week, as it has been put up for bid. Additionally, this abrupt growth in SNX is supported by the increasing daily network volume as a result of its new function.

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