Synthetix (SNX)
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The recent increase in Synthetix price is mainly due to the upcoming launch of its perpetual futures decentralized exchange (Perp DEX) on the Ethereum mainnet, which has generated significant market excitement. This launch is accompanied by a $1 million trading competition, attracting both institutional and retail DeFi traders, boosting trading volume and investor interest. Additionally, the broader bullish sentiment in the crypto market and growing accumulation of SNX tokens by long-term holders have contributed to the price surge. The anticipation of ecosystem upgrades and the unique features of the new Perp DEX platform have also played a key role in driving the recent price increase.
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Last Updated: 10/13/2025 02:00 UTC
Sentiment






Description
#134
Synthetix is a DeFi protocol that allows users to create and trade synthetic assets that track the price of real-world assets. It uses a native token called SNX to collateralize and govern the protocol, and a range of synthetic tokens called Synths to represent different assets.
Sector: | Perpetuals |
Blockchain: | Ethereum |