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Synapse Token Surges 44% as Cross-Chain Momentum Builds

Synapse (SYN), the native token of the cross-chain Synapse Protocol, is trading at a five-month high of $1.22 following a 44.74% move to the upside over the past 24-hours.

The token has outperformed its competitors across decentralized finance (DeFi) since the turn of the year, rallying by 151.56% compared to 58.27% for the sector, according to CoinDesk's DeFi index.

Synapse's ascent has been in-part due to the popularity of the Synapse bridge, which allows users to transfer assets across several blockchains. Since its inception, the Synapse bridge has facilitated $11.45 billion in transfers, according to data on the protocol's website.

(By Oliver Knight)

Synapse Synapse $0.52
-4.55%
Cross-Chain
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