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Members of the Synthetix derivatives protocol community have given the green light to a governance proposal, SIP-2043, which seeks to halt the inflation of the SNX token.
Synthetix, the prominent decentralized finance platform, recently announced a pivotal decision with the successful implementation of the Synthetix Improvement Proposal (SIP) 2043 by the governance. This event marks the end of SNX token inflation, a significant change impacting both token holders and liquidity providers.
Synthetix ended an era of inflationary incentives for stakers, electing to make SNX deflationary and introducing a new buyback-and-burn system, sparking a strong token price rally.
The Synthetix (SNX) price has increased considerably this week, reaching a nearly 600-day high of $4.95.
Cecentralized synthetic asset protocol Synthetix approved governance proposal SIP-2043, aimed at terminating SNX token inflation.
Synthetix, the decentralized derivatives protocol, has seen its community members overwhelmingly approve the governance proposal SIP-2043. This pivotal decision marks the end of token inflation for Synthetix's native token, SNX, and paves the way for a new era of strategies, centered around token buybacks and burns.
Injective (INJ), KuCoin Token (KCS), Immutable (IMX), and Synthetix (SNX) have been the top gainers in the previous 24 hours. Bulls in injectable (INJ) led the rally, driving the price to a 52-week high of $23.71 from an intra-day low of $19.38.
Following the long-term consolidation in 2023, Synthetic makes a stellar comeback like a phoenix rising from its ashes. The SNX price bouncing from the $1.44 support challenges the overhead resistance of the consolidation range and teases an upside break in Synthetix.
As the crypto market enters into what could be considered to be another bull market, one analyst known as MacnBTC has come forward to give a list of altcoins that could do well going forward. The list includes altcoins currently listed on the largest crypto exchange in the world, Binance, making them very easy to get.
The cryptocurrency industry has gained over 1.5% within the past day, indicating a bullish influence in the market. Further, the market concluded the previous month on a positive note as major tokens recorded a new yearly high during this time.
In recent times, the world of cryptocurrencies has been the subject of increasing attention and interest, recently Altcoins as well. Internet search for altcoins and related projects has seen a notable increase in the last period.
Synthetix (SNX), currently ranked as the 54th largest cryptocurrency by market capitalization, has been on an impressive upward trajectory in recent times. Over the past 30 days, SNX has surged by a remarkable 60%, while its year-to-date performance showcases a staggering price increase of over 108%.
Synthetix (SNX), currently positioned as the 54th largest cryptocurrency, has been closely aligned with the overall market trend. Over the past 30 days, SNX has experienced a substantial uptrend of 60%, while its year-to-date performance shows an impressive price increase of over 108%.
Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading past the $37,000 level on Monday. Ethereum (CRYPTO: ETH) also recorded gains, trading above the key $2,000 mark this morning.
Decentralized finance platform Synthetix caught attention as its token surged over 20% in the past day to new peaks of $3.57. The asset's bullishness comes as the protocol unveils the Per v3 update, designed to improve the platform's trading capabilities.
Synthetix, a popular decentralized finance (DeFi) protocol, has taken the spotlight among altcoins with a remarkable 22% surge in price, pushing the token to a new high of $3.56. This significant price increase has propelled Synthetix's year-to-date (YTD) gains to an impressive 147%.
Synthetix just reached its 15-month-high, last seen in August 2022. However, the price-daily active addresses (DAA) divergence shows a sell signal despite the “Perps V3” announcement.
Synthetix is on a major price run as it stole the show from the altcoins after surging as high as 22% to $3.56 at the time of writing. The Synthetix surge has pushed the token to its highest price level in 2023, erasing all past losses as the year-to-date (YTD) gains have soared to 147%.
The crypto prices today have been moving towards the north on Monday, November 20, as the investors seem to have regained confidence in the market. The market has been in a bullish run lately, mainly due to optimism and speculations over Bitcoin Spot ETF approval.
The cryptocurrency market is again heating up, led by Bitcoin (BTC), after the flagship digital asset reclaimed the $35,000 mark. As the short-term gains progress, there remains widespread uncertainty regarding the sustainability of the rally, with some market participants anticipating a continuation while others foresee a correction.
Decentralised Finance (DeFi) tokens continued their recovery mode as the crypto fear and greed index rose. PancakeSwap (CAKE) price surged by more than 30% on Thursday and reached the highest point since July this year. Synthetix (SNX) price, on the other hand, jumped to a high of $2.50, its highest level since August 2023.
It's not a good start to the week for crypto prices as stocks falter amid the latest flare up in the Israel-Hamas conflict. Among cryptocurrencies to see a brutal start is Synthetix Network (SNX), whose native token is down 4% in the past 24 hours and more than 10% in the red this past week.
Synthetix (SNX) founder Kain Warwick thinks it is now clear that US financial regulators are operating in bad faith to oversee the crypto sector.
Innovative initiatives like Shiba Budz (BUDZ), Render (RNDR), and Synthetix (SNX) are catching the attention of both investors and enthusiasts in the constantly changing world of blockchain technology and cryptocurrencies.
