ICYMI: Messari's Thomas Dunleavy shares Synthetix's performance analysis $SNX SNX DeFi
This magnificent upsurge should be attributed to the integration of the Synthetix atomic swap module by 1inch, another DeFi heavyweight. Atomic swaps allow to exchange cryptocurrencies in a seamless and resource-efficient manner.
With Synthetix atomic swaps enabled, zero slippage trade became available for 1inch users. Due to the popularity of this instrument, the aggregated trading volume and revenue of Synthetix rocketed.However, the price of SNX, the core native asset of Synthetix, added only 30% since June, and is still 90% down from the all-time high.
Mr. Dunleavy noticed that such discrepancy might be attributed to the whale-driven character of this upsurge. Synthetix is used by"a few hundred traders" monthly, while its average trade size is 40 times larger than that of Uniswap , a flagship retail DeFi.The Synthetix team is going to implement a number of major updates to bring a new generation of traders to the platform, analyst adds.
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