Share this article
Synthetix's SNX Rises 14% on Liquidity Deal Renewal With Jump Crypto
Synthetix has traded over $2.8 billion worth of on-chain assets following its launch of atomic swaps earlier this year.
Updated May 11, 2023, 4:43 p.m. Published Jul 22, 2022, 9:19 a.m.
Synthetix’s SNX token rose over 14% in the past 24 hours as developers said the protocol’s decentralized autonomous organization (DAO) had renewed a deal with liquidity provider Jump Crypto.
DAOs are entities that have no central leadership, and are owned and governed by their members. Their decisions are carried out by software rather than by human managers.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives,” developers said in a tweet on Thursday night.
Synthetix DAO and Jump Crypto are excited to announce a renewed partnership.
— Synthetix ⚔️ (@synthetix_io) July 21, 2022
Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives.
The Chicago-based trading firm is expected to work closely with the Synthetix network to provide liquidity across listed assets and product feedback. Jump Crypto provides liquidity services and investments, and it participates in project governance.
Synthetix didn't immediately respond to a request for comment.
SNX rose to as much as $3.37 during Asian trading hours before profit-taking caused the price to decline to $3.25 at press time. The tokens have gained over 19% in the past week, but only 4% compared with the past month after a market-wide decline pushed prices to monthly lows of $2.13 in early July.
However, the fundamentals remain strong. Since March, Synthetix has recorded trading volumes of over $2.8 billion, mainly from its atomic swaps and perpetual swaps products. Atomic swaps refer to an exchange of cryptocurrencies from separate blockchains. These use Uniswap and Chainlink live prices to ensure traders' accurate execution.
Popular products on Synthetix include ether , bitcoin and chainlink token derivatives traded against Synthetix USD (SUSD), a dollar-pegged stablecoin. The pairs have seen over $40 million in trading volume in the past 24 hours, Nomics data shows.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin slips below $88,000 as traders brace for $28.5 billion Deribit options expiry
Crypto continues to lose ground ahead of this week's record options expiration, while defensive positioning and thinning liquidity suggest caution into 2026.
What to know:
- Bitcoin and crypto prices moved steadily lower in U.S. Monday afternoon trading.
- Over $28.5 billion in bitcoin and ether options are set to expire Friday on derivatives exchange Deribit, the largest expiry in its history.
Top Stories
