SYN (Synapse) rose 40.30% in the last 24 hours.

Gate News Bot news, July 23, according to CoinMarketCap data, as of the time of writing, SYN (Synapse) is currently priced at $0.19, having pumped 40.30% in the last 24 hours, reaching a high of $0.22 and a low of $0.12, with a 24-hour volume of $128 million. The current market capitalization is approximately $34.22 million, rising by $9.83 million compared to yesterday.

Synapse is the most widely used, scalable, and secure cross-chain communication network. The protocol offers features such as bridging, swapping, liquidity pools, and staking. Users can obtain routing quotes through the Bridge panel and connect their wallets when ready to submit a transaction. Developers can access its documentation and GitHub repository for more information.

Important recent news about SYN:

1️⃣ Gate Futures Market Expansion Gate recently announced the inclusion of SYN in its futures trading product line, bringing more liquidity and trading opportunities to the SYN token. This move helps attract more institutional and professional traders to participate in the SYN market, driving its price rise.

2️⃣ Liquidity providers massive sell-off A major SYN liquidity provider recently sold off a large amount of the tokens it held, leading to short-term supply pressure in the market. This behavior has raised concerns about the stability of the SYN ecosystem and could be one of the important factors contributing to price fluctuations.

3️⃣ Cross-chain communication demand rise With the continuous development of the blockchain ecosystem, the demand for efficient and secure cross-chain communication solutions continues to rise. As a leading cross-chain communication network, the value of the Synapse protocol has been further recognized by the market, driving the price of SYN token to pump.

From a technical perspective, the SYN price has broken through previous resistance levels, showing strong upward momentum. However, considering the recent significant rise, it may face correction pressure in the short term. Investors should closely monitor changes in market liquidity and potential profit-taking behavior.

This message is not an investment advice; investment should be cautious of market volatility risks.