DeriV, a Derivatives Exchange Based on Synthetix (SNX), Surpasses $100 Million in TVL
Minseung Kang
Summary
- DeriV's TVL has surpassed $100 million, solidifying its position as a derivatives exchange.
- Trading volume and the number of active traders have reached all-time highs, indicating increased trading activity.
- The price of SNX has fallen by 8.91% from the previous day, suggesting investors should watch for price volatility.
The on-chain derivatives exchange DeriV, based on the Synthetix (SNX) blockchain, has surpassed $100 million in TVL (Total Value Locked).
According to CoinDesk, a cryptocurrency-focused media outlet, DeriV's TVL has exceeded $100 million, with both trading volume and the number of active traders reaching all-time highs. The increase in trading volume is closely linked to the rising demand in cryptocurrencies and spot ETFs.
Meanwhile, the price of SNX is trading at $2.893, down 8.91% from the previous day, based on the Binance USDT market at 18:12.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
