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Information about Synapse (SYN)
Synapse is one of the prominent cross-chain asset migration solutions in the cryptocurrency market. Currently, the project supports up to 19 different blockchains and the number will increase in the future when Layer 1, Layer 2 projects are more and more.
This DeFi protocol has 3 main products:
The SYN token is the native token of the Synapse protocol, used to access services on the network. The core functions of the SYN token include:
Specifications
News
Synthetix’s sUSD stablecoin has plummeted to 0.68 USD following its depeg, showing a nearly 31% decline from its 1:1 target with the US dollar.
The company is implementing strategies to manage sUSD’s volatility, including liquidity support through Curve pools and revised staking mechanisms to promote individual debt repayment.
Recent shifts in market structure, particularly following the SIP-420 announcement, have significantly influenced sUSD’s performance and future stability plans.
SYN trading volume is $ 77.84m. Market capitalization reaches $ 120.37m.
SYN trading volume is $ 70.71m. Market capitalization reaches $ 124.09m.
Whale accumulates 2.33 million SYN
A new cryptocurrency wallet known as 0x437 withdrew a total of SYN 2.33 million (equivalent to $2.02 million) from Coinbase through four transactions in the last four hours.
The wallet currently holds the same amount. Notably, SYN’s price is up 4.29% in the last hour.
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