Synthetics Daily Fee Over $1 Million With SNX Token Increased In Value By 100%

Layer 2 metering solution Synthetics recently teamed up with liquidity provider Curve Finance to create Curv Pools for Synthetic Ethereum (sETH) vs (ETH), Synthetic Bitcoin (sBTC) vs (BTC) and Synthetic US Dollar (sUSD) vs 3CRV, allowing investors to convert tokens Cheap synthetics like sETH to Ethereum.

With investors willing to hold tokens instead of synthetic ones, the protocol generated over 1.02 million in trading fees – outstripping Bitcoin (BTC)’s daily performance by five times.

Synthetics, the Ethereum-based Decentralized Finance (DeFi) protocol, has caused a stir across the cryptocurrency ecosystem after witnessing a sudden increase in trading activity and an unprecedented return of its internal token, SNX, during an unforgiving bear market.

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