These 2 DeFi Tokens Struck Big Gains Last Week, Outperforming Bitcoin, Ethereum

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Fantom’s FTM/USD native token was the top gain­er among cryp­tocur­ren­cies last week, fol­lowed close­ly by Syn­thetix Network’s SNX/USD native token, which record­ed a sim­i­lar uptick in price.

Both tokens gained  24% over the last sev­en days, out­per­form­ing coins like Bit­coin BTC/USDEthereum ETH/USD and Doge­coin DOGE/USD.









Top Gain­ers of Week End­ing July 25, 2022 (Data via CoinMarketCap)
Cryp­tocur­ren­cy 7‑Day % Change (+/-) All-Time High Value/Date Reached % Change (+/-) Since All-Time High
Fan­tom (FTM) +24.5% $3.46 On Oct 28, 2021 -90.8%
Syn­thetix Net­work (SNX) +24.1% $28.53 On Feb 14, 2021 -88.5%
Apecoin (APE) +18% $26.7 On Apr 28, 2022 -76%
Curve DAO (CRV) +17%% $15.37 On Aug 14, 2020 -91.6%
Ethereum Clas­sic (ETC) +14.5% $167.09 On May 06, 2021 -85.2%

Fantom’s Token Burns And Transaction Surge

A week­end update from a Fan­tom blockchain-focused ana­lyt­ics tool revealed that over 7.7 mil­lion FTM tokens have been burned to date. This equates to $2.3 bil­lion worth of FTM being removed from circulation.

The blockchain also record­ed an 87% uptick in dai­ly trans­ac­tions year-to-date — a sig­nif­i­cant per­cent­age change com­pared to com­pet­ing blockchains. The num­ber of dai­ly trans­ac­tions on the Fan­tom blockchain stood at 1,012,742 as of July 18.

Synthetix Partners With Jump Crypto

 On July 21, Syn­thetix announced a part­ner­ship with trad­ing firm Jump Cryp­to. Syn­thetix DAO said that Jump would be work­ing close­ly with its ecosys­tem to sup­port liq­uid­i­ty across the board.

The DeFi protocol’s sUSD bridge to Ethereum, which was enabled last week, facil­i­tates sUSD trans­fers between the main­net and Opti­mistic Ethereum. 

Anoth­er point of inter­est for SNX stak­ers is Kwenta’s launch of Futures trad­ing on Opti­mism L2. This fea­ture brings addi­tion­al fees to SNX token stakers.



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