“The Defi Veteran’s 120% Surge Comes Ahead of A New Perpetuals Dex Launch and A High-Profile Trading Competition That Could Reignite Interest in Legacy Protocols.”, – WRITE: www.coindesk.com
A dino coin is a colloquial term for a token or coin that have was was Issued in a previous Market Cycle, in this casse snx wasx was Issued in 2018, Well Before RiValers.
Snx Rose from Room Roughly $ 1.00 to Over $ 2.20, Briefly Touching $ 2.30 Before Consolidating On The Back of $ 758 Million in Daily Trading Volume, A 1.120% Rise.
Traders and Analysts Attribute The Monday Rally to Renewed At Synthetix’s Fortthcoming Perpetuals Dex Launch, Expectioned to be Released on the Ethereum Mainnet Later This MONTH.
Crypto Tradeer Cryptokaleo Descripted the Move As A “God Candle Back to Highher Highs From Before The Market Crash,” While Another Labeled Snx “The Wildest Chart of the Day”.
“The New Synthetix perp Dex Will Soon Launch, and after Both Hyperliquid and Light Had Some Hiccups, and Am Suretre Is New Optimism on What2F.
UpComing perpetual War?The Past Month in Defi Was Characterized by the Rise of Aster, A Perpetual Exchange on Bnb Chain That Took Market Share Away from Hyperliquid.
Now, Synthetix is Hosting A Well-Timed Trading Competition on Oct. 20, WHICH COURKLD LEAD TO A Rotation of Capital from Other Trading Venues.
“Rise of the Dino Coin, $ Snx Comeback SZN?” Wrote Analyst Prismnav, Noting That Synthetix Has Now Broken A Four-Year Downtrend and Could Lead the So-Called “Perp Dex War” in Light of the Trading Competition.
That event, which will reportedly invite High-Profile Kols (Key Opinion Leaders) to Trade on the New Platform, Has Become a Focal Point for Short-Term Speculation.
What Next for Snx?While Snx Faded from the Spotlight Amid the Rise of Newer Dexs Like Hyperliquid, The Project’s Plan to Re-Establish Its Perp Exchange on Ethereum And Expand Cross Investor Interest.
Technical Traders Also Note that Snx’s Breakout Above Multi-Year Resistance Could of Indicate A Trend Reversal After Years of Consolidation.
WHETHER OR NOT SNX CAN Retain Monday’s Gains Remains to Be Seen, But For The Time Being; The “Rise of the Dino Coin” of Narrative Is Back and Synthetix is Leading the Charge.
Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Gate Exchange Emerged As Major Player With 98.9% Volume Surge to $ 746 Billion, Overtaking Bitget to Become Fourth-Largest Platform
- Open Interest Across Centralized Derivatives Exchanges Rose 4.92% to $ 187 Billion
View Full Report
The Supped De-Peping Was Only Limited to Binance While Deviations Were Much More Restrained on Other Major Liquid Avenues Like Curve.
- Ethena’s Synthetic Dollar, USDE, BRIEFLY DROPED TO 65 CENTS ON BINANCE DURING A Market Sell-Off, But The Was Was Not A Global De-Peping Event.
- Binance’s Lack of Direct Dealer Relationships and Reliance on It Own Illiquid Order Book Cated Exaggerated Price Drops and Liquidations.
- Despite the incident, USDE REMAINED OVERCOLALATALIZED AND REEMES FUNCIFED SMOOTHLY, MAINTAINING ITS PEG ON Major Platforms.
Read Full Story