Key Takeaway:
- Synapse’s native token, SYN, surged after a major listing announcement by Binance Futures.
- Synapse saw a price increase of over 40% in 24 hours, reaching a value of over $0.57.
- The launch of SYNUSDT Perpetual Contract on Binance offered up to 50x leverage.
- Synapse’s price rise is also attributed to community anticipation of upcoming launches and a significant accumulation of SYN tokens.
- The key price target for SYN is its previous all-time high of $4.92.
Binance Futures adds SYN
Synapse’s native token, SYN, experienced a significant surge in price following the announcement of its listing on Binance Futures. The price of SYN skyrocketed by over 40% in just 24 hours, reaching a value of over $0.57. Additionally, the launch of the SYNUSDT Perpetual Contract on Binance provided traders with new opportunities for futures trading with up to 50x leverage.
Why else did SYN price rise?
Aside from the listing on Binance Futures, the surge in SYN’s price can be attributed to the anticipation surrounding the upcoming Synapse chain and Interchain network launch. Furthermore, the accumulation of over $1 million worth of SYN by a single address likely contributed to the upward pressure on the token. While there have been no major news developments directly related to the Synapse network, traders remain optimistic about the project’s growing visibility and future milestones. The key price target for SYN remains its previous all-time high of $4.92, achieved in October 2021.
