Synthetix (SNX) Trading Volume Spikes, But Sparklo (SPRK) Outperforms its Price

Synthetix (SNX) Trading Volume Spikes, But Sparklo (SPRK) Outperforms its Price

Synthetix (SNX) has been steadily growing in the decentralized finance (DeFi) space. Recently, Synthetix (SNX) has seen its trading volume spike as more users begin using the DeFi protocol. However, where it matters, Sparklo has come out on top, attracting investors with its better price performance and prospects for bigger growth in the future.

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Sparklo (SPRK) attracts new investors

There has been a surge of investors buying into Sparklo – a new alternative investment platform that has set out to transform the precious metals investment space. Sparklo has put together an infrastructure to bring down major barriers (accessibility, affordability, divisibility, and transportation) that have restricted retail investors from buying bars of gold, silver, and platinum.

Leveraging blockchain technology, Sparklo will offer cheaper fees to purchase precious metals and allow anyone regardless of their economic state to own pieces of gold, silver, and platinum. Using fractionalized NFTs that are backed by real assets, Sparklo will allow investors to purchase gold, silver, and platinum for as low as $100. Using the peer-to-peer system and providing additional liquidity, owners of these NFTs will be easily able to sell them regardless of their locations.

Sparklo is effectively giving every investor the chance to partake in the multi-trillion-dollar precious metals industry. And for investors who buy a whole NFT, they can choose a location where the Sparklo team will deliver the bar of gold, silver, or platinum. You can join the AMA session with the Sparklo team on June 5 to get more information about the project. Before then, you have an opportunity to receive up to a 50% bonus when you buy SPRK tokens from now until June 27.

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Synthetix (SNX) trading volume jumps, and price reacts

Decentralized liquidity protocol, Synthetix (SNX) has recorded a significant jump in its trading volume to become the second most active DeFi platform. Over the last week, more than $1 billion has been traded on Synthetix (SNX). The jump in trading volume on Synthetix (SNX) began after token swap incentives for Optimism (OP) of $5.7 million was approved for the protocol.

The price of Synthetix (SNX) has positively reacted to the increasing activity on the platform. Over the last 24 hours, the price of Synthetix (SNX) has increased by more than 4% to trade at $2.48. However, Synthetix (SNX) still faces resistance at the $2.50 level. Synthetix (SNX) would need significant bullish momentum to break above this level or risk retesting $2.28.

We definitely believe that Sparklo (SPRK) is a very promising investment opportunity which you should check out below:


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