Synapse
$SYN
$0.8413
-6.02%
3 Results
Rates are continuing yesterdayâs rise after ADP Employment showed 184k jobs vs. 150k expected. The US10Y hit a high of 4.3% before paring gains after March ISM Services data showed lower-than-expected prices, employment, and orders. U.S. equity indices are rebounding, with the SPY gaining 0.42% and the QQQ rising 0.60%. Crypto assets are showing more pronounced gains, with $BTC (+1.28%) reclaiming $66k and $ETH (+1.56%) rising above $3,300. Synapse ($SYN)...
$BTC surged in the overnight hours, nearing $74k, following a day of record inflows into spot ETF products. It's now trading around $72.5k. $ETH is showing relative weakness this morning, dipping just below $4k. This may be due to capital rotating into Layer 2 solutions and other Ethereum-related assets following the successful Denunc upgrade. Ethereum-adjacent assets such as $AAVE, $SYN, $MATIC, $MKR, and $ARB, are outperforming thus far today. $SOL...
FIGURE: PEPE CROSSING BRIDGES TO EXPLORE ALTERNATE LAYER 1S / LAYER 2S Although ETH remains the dominant Layer 1 for most on-chain activity, alternate Layer 1s have demonstrated product-market fit throughout the bull market run of ‘20/’21. Solana ($SOL) emerged as the ‘high-throughput chain’ focused on complex DeFi / gaming, BNB Chain ($BNB) offers easy fiat on/off-ramps through Binance CEX, while Avalanche ($AVAX) and Cosmos ($ATOM) are building application-specific blockchains...
