Synthetix (SNX) spiked to its three-week high on Monday in reaction to a market-wide upside correction led by Bitcoin (BTC) and other top-cap digital assets.
The Synthetix project’s native token reached $9.59 after rising four days in a row by up to 50%. That included a sharp 18.29% upswing in the previous daily session, sparked by Bitcoin’s climb above its key resistance level of $35,000. Altcoins tend to tail the flagship digital asset’s price trends.
Synthetix and Bitcoin price moves in the recent sessions. Source: TradingViewSynthetix was among the only DeFi coins in profits based on a 24-hour adjusted timeframe. Source: MessariVORTECS™ Score (green) vs. SNX price. Source: Cointelegraph Markets ProSNX locked in Synthetix pools decline as price rallies. Source: DeFi PulseSNX staking APY (with sUSD and SNX as base unit) is at 48.64% per annum. Source: Synthetics Official WebsiteThe Sythentix token eyes a breakout above $10.54. Source: TradingView
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