Synthetix (SNX) surpasses $1B TVL as DeFi investor interest grows
Cointelegraph
Published Aug 30, 2020 03:52PM ET
Updated Aug 31, 2020 06:00PM ET
Synthetix has reached the $1 billion in value locked milestone, following other DeFi protocols like Compound and Aave. Synthetix (SNX) has been one of the many DeFi tokens that has made substantial gains in 2020, having hit its all-time high of $7.32 on August 15 and rallied more than 400% year-to-date.
Most of the hype around the 2020 altcoin season has been focused around lending, liquidity, and yield farming within crypto. However, Synthetix has been able to make strides in the DeFi sector by offering crypto investors an inlet to the world of traditional finance. Synthetix is also the fourth biggest DeFi protocol by total value locked according to data from DappRadar.
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Written By: Cointelegraph
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