Market Action: Synthetix SNX price up +51% in the last 30 days
Synthetix is a DeFi platform built on top of the Ethereum ecosystem.
In the last 24 hours, it has seen a +16.6% raise in price. Looking at the 30 days trend, it has gained as much as +51%.
What you can do on Synthetix? In our Cryptocurrency Q3 Report 2019, we covered briefly what are the things you can do on Synthetix.
In short, Synthetix enables you to trade derivative products in a decentralized manner. It also allows you to do margin trading, whereby loans are issued through the Ethereum network. Lenders will be able to make some amount of interest in return of loaning out their tokens.
Recently, Synthetix is the 3rd largest DeFi platform by total amount of locked ETH according to https://defipulse.com/
I <3 #defi
Posted using Partiko Android
same!
Any use for this platform outside of gambling?
Posted using Partiko iOS
Synthetix's main offering is the ability to create tokenized derivative of an asset (synthetic asset), more for trading and lending.
Can you inform us before this moves happens :)
lol ... nice image :)