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SNX’s 116% rally on the back of growing stablecoin demand means…

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The recovering market has been benevolent for many altcoins such as Synthetix, more so than others. In fact, in addition to this, their use cases have grown as well.

However, this also fuels a leading question. While the considerable rallies are looking good right now, will they still survive once the bullishness slows down?After May and June’s crash, SNX declined from its local top of $7.7 to $1.5 in the span of a month.However, within a month of the same, the altcoin recovered all of June’s losses and pretty much half of May’s dip by rallying by 116.08%.

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