SNX Surges Over 80% to 10-Month High – Can Synthetix’s Perp DEX Launch Fuel More?

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Hold onto your hats, folks, because SNX, the token that’s practically married to the Synthetix protocol, has decided it’s time for a big comeback. It’s rocketed to a 10-month high, all thanks to the whispers of a soon-to-be-launched perpetual decentralized exchange (DEX) on Ethereum‘s mainnet. If that sounds like jargon, don’t worry, you’re not alone. But let’s dive in, shall we?

Now, don’t get too comfortable. Sure, the token is riding high on the wings of an 80% price surge, but there’s a little thing called “reality” creeping in. While the crypto market was shaking like a leaf in a hurricane, SNX was out here performing like it’s been hitting the gym. Because, apparently, despite looking a little “meh” lately, it’s back, and it’s better than ever.

Synthetix (SNX) Bounces Back Over 80% After Crypto Market Crash. Yes, You Read That Right.

So, what’s the deal with Synthetix? It lets you trade synthetic assets-basically, digital copies of real-world things like stocks, commodities, and crypto. No need to hoard physical goods, just pure digital magic. If you’re wondering, SNX is number two in this synthetic assets game, right behind Chainlink (LINK). So, don’t sleep on it, okay?

To be clear, Synthetix was chilling for a while, not really grabbing headlines. But guess what? The market crashed, and everyone was panicking. Except SNX. It just dusted itself off and jumped back in the ring. By Sunday, it was already up by 98%. I mean, that’s some serious recovery, right?

“SNX with a god candle back to higher highs from before the market crash,” an analyst casually remarked, probably sipping their latte.

And now? SNX is flexing its muscles again, trading at $1.76. Oh, and in case you didn’t notice, it’s been the top gainer for the past 24 hours on CoinGecko. Don’t act surprised, this token’s got game.

The excitement isn’t just about SNX’s price surge-it’s also about the fact that its trading volume is going *through the roof*. Right now, daily trading volume is up by a mind-blowing 834%. That’s not a typo, folks. 834%.

Everyone’s Talking About the Perp DEX. Will It Actually Deliver? 🤔

Okay, so here’s where things get interesting. As if SNX wasn’t enough of a wild card, they’re about to launch the first perpetual DEX on Ethereum’s mainnet, and it’s happening in Q4 2025. Timing is everything, right? Perpetual DEXs are all the rage, and Synthetix isn’t just standing on the sidelines anymore. They’re going full throttle with a new trading competition to kick off.

Synthetix Trading Competition on Ethereum Mainnet launches October 20.

🔹 $1,000,000 top prize
🔹 100 traders
🔹 The first perp DEX on Ethereum Mainnet

Let’s go!

🧵⬇️

– Synthetix ⚔️ (@synthetix_io) October 2, 2025

Analysts are divided, of course. Some are all in on the DEX launch. Others are still wearing their skeptic hats, wondering if it’s all smoke and mirrors.

“The new Synthetix perp dex will soon launch, and after both Hyperliquid and Lighter had some hiccups, I am sure there is new optimism on what Synthetix can deliver,” said one analyst, likely holding a “Go Team” sign in the background.

Another one chimed in, saying the next few months will be “very interesting” for Synthetix. You know, because what’s life without a little drama?

“Mindshare/attention will begin to flow to SNX,” another analyst boldly predicted. Sure, but will the hype stick around?

But wait-there’s more! Apparently, Synthetix is also working on a thing called the Liquidity Prover Vault (SLP). It sounds important. But will it work? Only time will tell. It’s designed to boost capital efficiency, so keep your fingers crossed for SNX fans everywhere.

$snx will pump like $zec

Fasten your seat belts

– KNIGHT (@cryptoknight890) October 13, 2025

But not everyone’s convinced. Some traders are throwing shade, claiming that Synthetix has a track record of disappointing launches.

“I’m sorry if you’re bullish on anything Synthetix because [enter narrative here] you’re beyond help. They couldn’t nail stables, nor borrowing and lending, nor trading, now people are buying into the fact they’re gonna launch a perp dex and its gonna be a hit? lmao,” Shual quipped, probably rolling their eyes.

Altcoin Sherpa, another pseudonymous genius, warned of a potential “pump-and-dump.” Yikes, that’s cold. But hey, it’s crypto, anything’s possible.

“There are some interesting things going for them in terms of 0 sell pressure from VCs and high float but this is probably just going to be some supply controlled pump and dump, not based off real products imo,” Sherpa added, probably feeling very smug about it.

So, yeah, while the current rally has everyone on their toes, the big question remains: Will SNX keep soaring, or is this just another case of *here today, gone tomorrow*? Only time (and possibly some new developments) will tell.

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2025-10-13 10:20