Ethereum-based token of new DeFi trading platform surges 1,000% in two weeks

[sneakyboi]

Ethereum-based token of new DeFi trading platform surges 1,000% in two weeks

Bitcoin and Ethereum may be crashing but this hasn’t stopped DeFi projects from gaining traction.

While decentralized spot exchanges such as Uniswap and SushiSwap have gained much traction over their centralized competitors, there remain few platforms through which crypto users can obtain leverage on these volatile markets in a decentralized manner.

SynLev launched just weeks ago, giving users the opportunity to short and long Ethereum and soon other assets with leverage in a decentralized manner. It accomplishes this by using a pool of Ethereum to create synthetic leverage of around 2-4 times. This is similar to models used by exchanges such as FTX, which allow users to obtain leverage without having margin or liquidation levels.

Learn more about the news here.

[zilzylian]

This trend is absolutely unstoppable, investors have a lot of plans through the DeFi hype that is booming this year, therefore we will see the price of DeFi tokens increasing rapidly unlike projects other than DeFi, this situation is very good because of the overall crypto market capitalization is an increase from $3 billion to $5 billion this year. The DeFi hype is not over and it is time for us to think about taking advantage of both short-term trading and investing.

[hair]

It's amazing that the DeFi Project still seems to be in great demand by many investors. Its bounce price made a huge profit

[Vx1]

The huge potential that the tokens from the DeFi project have. It's very tempting.  If we are lucky then we will get extraordinary benefits from prices that have increased hundreds of percent or even thousands of percent, which is now difficult for us to get from tokens other than the DeFi project.

[Nostoman]

Bitcoin and Ethereum are two high quality blockchain currencies in the market. DeFi space is built around the entire Ethereum platform. And now DeFi tokens Uniswap list is much more popular.

The DeFi market will never go higher than Bitcoin. However, financial services can be delivered in any cryptocurrency. That will help create a decentralized network around the world. Among its centralized shots, other currencies are very predominant. However, DeFi currency is now able to deliver financial services much more to the ecosystem.

Digital transactions are now helping to be more. I think DeFi currencies are working to take Bitcoin further and further. Because changes are possible for Bitcoin to trade. So we hold bitcoin by selling any currency. So DeFi is important.

[Nostoman]

@Sneakyboi, If you copy a post from a website, write it and post it, then they are great. So I think with the idea from the news shots, write and post here later. As if the main statements of the news are published. Then I think that would be great.

[Cinno3]

Other cryptocurrencies, including Bitcoin, attract such investors. Similarly, DeFi tokens now attract investors. There are plenty of expert investors in the market who are currently dominating DeFi tokens. So I think it has gained momentum. It will be used as one of the mediums for future financial transactions.

[Gurujebs]

I just checked market cap to sear for synlev, I was suprised that the fomo is real and current trading with $4 million. This is huge but this might just be like other DeFi that wouldn't last long. It's still early to conclude to compare it's performance with the previous successful once.

Uni, YF, yf1 are still here.

[EAA-ALLAH]

This now an off-topic. No need to comment more here. So locked this topic as usual.