TheBlock
2020-08-07 20:18:26

Synthetix soars but the demand side is conspicuously absent

Quick TakeSynthetic asset issuance protocol, Synthetix, continues to draw attention, with Total Value Locked surpassing $630m and SNX commanding a $900m market cap.Synthetix Exchange (SE) volume, however, continues to lag: as of July 27 SE had just 2.28% market share among non-custodial exchange protocols.Without some form of funding rate, Synthetix may find itself cannibalized by secondary markets.

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