SNX non riesce a superare il muro di $ 3 nonostante il traguardo della mainnet Synthetix V3

Il token nativo di Synthetix SNX è tra le poche criptovalute che sono riuscite a mantenere un orientamento rialzista nelle ultime due settimane. Questo, in un momento in cui la maggior parte delle principali criptovalute ha faticato a mantenere i guadagni di gennaio.

Timeline of Synthetix-network-token

Recently, Synthetix [SNX] got into the spotlight, thanks to its trading volume. Token Terminal revealed that SNX's trading volume registered a considerable uptick over the last few weeks.

The crypto market has demonstrated a healthy recovery since January 2023, and, as a result, there has been increased activity in the DeFi world. Synthetix is among the companies that are capitalizing on this recovery.

Synthetix has slowed down in 2022 in its DeFi pursuits, just like many crypto networks have during the bear market. Regardless, the network remains committed to its long-term pursuits and this was evident in its latest endeavor.

 Synthetix [SNX] managed to pull off a solid uptick by more than 10% as of 17 October. This performance meant that it had outperformed many of the top cryptocurrencies during the same period.

The crypto market has been harsh in recent times. Synthetix Network (SNX) and eCash (XEC) are struggling to post sustainable growth after suffering a downfall during the recent market crash.

Synthetix is at the cusp of a breakout after the release of new announcements on the network. The network is rolling out a proposal to cap SNX's maximum supply at a “very memorable” 300 million.

The layer-2 scaling solution Synthetix undertook some important developments this month. Often described as a “blue chip” DeFi project, Synthetix was one of the first projects to launch on the Ethereum network.

Synthetix founder Kain Warwick has submitted a proposal to turn off SNX's high yield returns and cap its supply at 300 million tokens. The post Synthetix (SNX) Founder Proposes Ending High Yield Returns With 300M Capped Supply appeared first on BeInCrypto.

Synthetix wants to turn off the SNX money printer forever, as proposed by the founder of the DeFi system, Kian Warwick. This would mean that they will be turning off the exceptionally high yield returns for SNX stakers and capping the overall SNX token supply at 300 million.

If the proposal were to take effect, Synthetix would much more closely resemble a traditional business by simply generating fee revenue and distributing the proceeds to SNX holders.