NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts

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

Christian Encila
Christian Encila
Last Updated: June 11, 2024 2:20 pm
2 mins read
Synthetix

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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.

Suggested Reading | Bitcoin Climbs Back Above $20K, A Bit Of A Relief To The Sinking Crypto Market

Synthetix is a Layer-2 scaling solution that provides on-chain exposure to a wide variety of crypto and non-crypto assets. It recently partnered with liquidity provider Curve Finance to create Curve pools for sETH/ETH, sUSD/3CRV, and  sBTC/BTC, allowing investors to convert synths such as sETH to Ether (ETH) at more affordable rates.

Synthetix Token Climbs By Half In Seven Days

The Synthetix token is selling at $3.05 at the time of writing, a 50 percent increase over the past week. The latest price increase has assisted the token in erasing its deficit from the  ongoing market meltdown.

The price increase of SNX is not only attributable to optimistic perceptions surrounding Bitcoin at the start of the week, but also to investors’ eagerness to hold tokens instead of synths and the protocol’s ability to generate more than $1 million in trading fees, five times greater than BTC’s daily performance.

When token holders pledge their SNX as collateral using Mintr, a decentralized platform for engaging with Synthetix contracts, synthetic assets are created. Currently, the protocol supports synthetic fiat currencies, cryptocurrencies, and commodities.

SNX At No. 87 On The Global Rankings

The Synthetix coin is trading slightly over its 52-week low. Any decrease in the price of Bitcoin could cause the price of SNX to decrease as well.

Among the almost 20,000 cryptocurrencies, SNX crypto is listed on the No. 87 spot. The SNX cryptocurrency can be traded on crypto exchanges such as Binance and Uniswap.

The cryptocurrency market is showing signs of revival, as its valuation increased by 8.5% from the previous day to reach $879 billion. However, it is essential to recognize that the crypto market as a whole is experiencing a moment of tremendous instability.

Featured image from Cryptona, chart from TradingView.com
Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

2026년 밈코인 시장의 화려한 부활? 페페코인 26% 상승으로 주목받는 페페노드 프리세일

2026년 밈코인 시장의 화려한 부활? 페페코인 26% 상승으로 주목받는 신규 개구리 밈코인

핵심 내용: 페페(PEPE)와 도지코인(DOGE)을 필두로 한 신년 랠리가 밈코인 시장의 강력한 회복 신호를 알리고 있다. 단순 유머를 넘어 ‘마인 투 언’과...

Soyeon Lee 2 hours ago
Top 6 Crypto Altcoin Picks For 2026

Austin Arnold Unveils His Top 6 Crypto Altcoin Picks For 2026

Altcoin Daily host Austin Arnold used a Jan. 1 video titled “Top 6 Crypto Altcoins To Invest In For 2026”...

Jake Simmons 2 hours ago
Bitcoin

Bitcoin Cycle Defined by Demand, Not Price: CryptoQuant Head Says

Head of research at on-chain analytics firm CryptoQuant has explained how demand makes the basis of a Bitcoin cycle, rather...

Keshav Verma 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

2026 以太坊展望:機構資金強勢入場 vs 市場疑慮 ETH 能否突破 $10,000 大關?

newsbtc 6 minutes ago
Bitcoin

Bitcoin Price Crash To $25,000: Why The Bottom Is Much Lower

Scott Matherson 28 minutes ago
Bitcoin

Bitcoin’s Bear Market Might Not Be New: Data Points To A 2-Month Slide

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • Best Meme Coins To Buy For The Next Year

    Những meme coin tiềm năng nên mua cho năm tới...

    21 hours ago
  • Các dự án presale crypto tốt nhất nên mua, top 5...

    21 hours ago
  • ChatGPT Predicts

    Những alt coin tốt nhất nên mua vào đêm Giao...

    21 hours ago
  • Maxi Doge Presale Has 48 Hours Left - Can MAXI Lead The 2026 Meme Run?

    Maxi Doge Presale Has 48 Hours Left – Can MAXI Lead...

    24 hours ago
  • Dự báo từ ChatGPT

    Dự báo từ ChatGPT làm bùng nổ tranh luận mới...

    2 days ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.