Synapse Token Price Jumped Over 40%


On February 2, the daily increase in the price of the utility token of the Synapse cross-chain bridge project (SYN) exceeded 40%. Quotes updated a five-month high at $1.27, according to CoinGecko.

Trading volume approached $30 million, six times higher than on Feb. 1.

Over the past month, the capitalization of SYN has grown by 143.5%.

Trading View Chart
Coinbase SYN/USD 4-hour chart. Data: TradingView.

According to website Synapse, since the launch of the cross-chain bridge, the amount of assets transferred through the protocol has amounted to $11.45 billion.

In November, the Synapse Bridge team prevented an $8 million hack.

Recall TVL Cosmos-powered Canto’s DeFi ecosystem has more than doubled since early January. Over the past month, the total volume of funds transferred via cross-chain bridges from Ethereum to Canto has increased by $77 million.

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