Why is Synthetix $SNX Trending?
Synthetix (SNX) has recently secured a spot on the top gainers list due to several key factors. One major reason is the successful launch of its Perpetual DEX on the Ethereum Mainnet, which has significantly boosted trading volume and network fees. Additionally, the founder, Kain Warwick, recently launched Infinex, a DeFi "super app" that has renewed investor interest in the entire Synthetix ecosystem. The protocol’s transition to Synthetix V3, which introduces "Liquidity-as-a-Service" and more collateral options like sUSDe, has also created bullish momentum.
Behind this project is a highly experienced team led by founder Kain Warwick, often credited with sparking the "DeFi Summer" of 2020. The project is governed by the Spartan Council, a decentralized group of elected members who manage protocol upgrades. Looking ahead, SNX’s future appears promising as it remains a backbone of decentralized derivatives, though its price remains volatile. For long-term investors, the focus is on the protocol's ability to capture more market share from centralized exchanges through its innovative staking and fee-sharing model.
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