Altcoins Rally with Bitcoin Breakthrough
Synthetix (SNX) is rising by 6.4% to $0.607 this week, strongly outperforming the broader crypto market, where Bitcoin (BTC) gained 1.7% to $111,168. The crypto market has firmly shifted to an upward trajectory after Bitcoin broke through the key resistance at $108,000–110,000 and set a new all-time high at $112,021. With BTC now aiming for the next target at $118,000–120,000, another 7.0% higher, altcoins are gaining momentum.
SNX is also benefiting from a positive catalyst: Upbit, a major crypto exchange, has removed its cautionary label on the token. This led to a sharp 124% increase in trading volume, signalling renewed investor interest. With this momentum, SNX appears poised to break out of its prolonged flat range around $0.500. If bullish sentiment holds, the token could be heading toward the $1.000 mark.
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