Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform.
The trading volume data from Token Terminal shows that Synthetix did more than twice the trading of GMX in the seven-day period starting May 17, thanks to Optimism (OP) token incentives for perpetual swap traders.
The 7-day trading volume on decentralized derivative exchanges. Source: Token TerminalThe fees earned by Synthetix Protocol. Source: DefiLlama price chart. Source: TradingViewGMX open interest and trading volumes since April. Source: CoinGecko price chart. Source: TradingView
