In brief
- Synthetix (SNX) is up 190% over the past month ahead of its Q4 Ethereum mainnet perpetual DEX launch.
- The rally has fueled a spike in on-chain activity with 975 new wallets and 229 whale transfers in a day.
- Experts call the recent pullback a healthy correction, with long-term growth depending on user retention.
The native token of derivatives protocol Synthetix, SNX, has posted staggering gains over the past month, rallying by 190% as anticipation builds for its upcoming perpetual decentralized exchange launch on the Ethereum mainnet.
SNX is currently trading at $1.98, down 0.9% on the day and up 190.5% over the past 30 days, according to CoinGecko data.
Synthetix is slated to launch the first perpetual DEX on the Ethereum mainnet in the fourth quarter of 2025, according to the project’s September 22 announcement.
Go to Source to See Full Article
Author: Akash Girimath
