Synthetix (SNX) Archives - Coin Engineer

Why Is Synthetix (SNX) Rising?

Emre Yumlu — Mon, 13 Oct 2025 12:30:06 +0000

Following a turbulent week marked by sharp sell-offs across the crypto market, Synthetix (SNX) has emerged as one of the fastest-recovering digital assets. As a long-standing leader in the decentralized finance (DeFi) sector, the project is regaining investor attention thanks to an upcoming major launch that could redefine its market position.

Perpetuals DEX Launch Sparks Fresh Optimism

The Synthetix team is gearing up to launch its new Perpetuals DEX on the Ethereum mainnet on October 20. This launch isn’t just a technical upgrade—it also comes with strong community engagement incentives designed to boost trading activity and visibility.

In conjunction with the launch, Synthetix will host a $1 million trading competition targeting top investors and community influencers. Historically, such initiatives have driven speculative momentum, and this time is no different. Over the past 24 hours, SNX trading volume has surged by 1,120% to $947 million, signaling growing enthusiasm from both retail and institutional traders.

The upcoming DEX will feature gas-free trading, multi-collateral support (including assets like sUSDe and wstETH), and privacy mechanisms that help prevent liquidation sniping. These innovations aim to make trading on Synthetix more seamless, efficient, and secure—potentially expanding its user base and solidifying its position in the DeFi derivatives landscape.

Growing Community Engagement and Ecosystem Momentum

The strategic rollout of the new DEX has not only strengthened Synthetix’s technical foundation but also reinvigorated its community dynamics. Anticipation surrounding the launch has led to a surge in SNX-related discussions on social media, while on-chain user activity has seen a notable increase.

This renewed engagement indicates that Synthetix is successfully recapturing the momentum it had in earlier market cycles. The project’s ability to continuously innovate while fostering active community participation is proving to be a key factor in its sustained growth.

Synthetix (SNX) Price Outlook

In the past 24 hours, SNX has surged by 134.95%, reaching $2.30—a remarkable rebound given the recent market volatility. Analysts view this rally as both a technical recovery and a reflection of renewed investor confidence ahead of the DEX launch.

If current momentum persists, Synthetix could continue to see upward price action in the short term. Over the long run, features such as gasless transactions, multi-collateral lending, and capital-efficient architecture are expected to further strengthen its position as one of DeFi’s cornerstone protocols.

This article is for informational purposes only and does not constitute investment advice.

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Binance ‘s New Delisting Decision

admin — Wed, 31 Jan 2024 14:23:26 +0000

The world’s leading cryptocurrency exchange, Binance, is preparing to take a major step in the cryptocurrency market. The platform has announced that it will remove the trading pairs of six popular altcoins from spot trading. It announced that these assets are Biswap (BSW), Kava (KAVA), Secret (SCRT), Synthetix (SNX), UniLend Finance (UFT) and Wanchain (WAN).

Binance ‘s Delisting Procedures and Date

According to Binance’s official announcement, this delisting decision will come into effect at 06:00 on February 2. The trading pairs of BSW/BNB, KAVA/ETH, SCRT/ETH, SNX/BNB, UFT/ETH and WAN/ETH, which will be delisted, will be removed from spot trading and the trading bots associated with these trading pairs will also be closed at the same time.

Binance explained the reasons behind this radical decision to users. The platform stated that the delisting decision is part of its strategy to optimize trading pairs and improve overall user experience. It emphasized that such strategic adjustments are necessary for exchanges to maintain their competitive advantage and provide safer, faster and more efficient services to their users.

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Synthetix (SNX) Chart Review and Price Analysis!

Ahmet Bedirhan Arvas — Fri, 05 Jan 2024 23:27:01 +0000

We observe a Butterfly Formation in the Synthetix (SNX) coin chart, and if this formation plays out, it could potentially signal the start of a bullish rally in SNX.

SNX, Synthetix Network Token, is the native token of the Synthetix protocol. Synthetix is a platform focused on creating decentralized financial products (DeFi). This platform enables users to create and trade synthetic versions of various assets. Users can invest in or trade tokens representing real assets that are synthetically generated on the blockchain.

The SNX token supports operations on the Synthetix network and facilitates participation in the governance of the platform. Additionally, this token operates incentive reward mechanisms for the protocol. Synthetix allows users to be exposed to synthetic versions of stocks, commodities, cryptocurrencies, and other assets, enabling them to build a diversified portfolio.

The formation works as follows: Firstly, an XA wave is formed, and we draw a Fibonacci from X to A. Following this upward movement, an AB correction occurs, and this correction movement aligns with the 0.786 point of the Fibonacci level we drew. Subsequently, another BC upward movement occurs, and this rise corresponds to the 0.382 point of our Fibonacci level. After that, the CD point is formed, which is not just a point but a potential reversal zone. These movements create a “butterfly” shape on the chart. If the formation is confirmed, meaning it surpasses specific levels, it could signify the beginning of a bullish rally in SNX.

Now, we have three conditions for our D point. Firstly, the price should pull back to the 1.27 Fibonacci level, and the second one is the AB=CD formation. The third condition is no longer necessary since we’ve seen the second condition and are aware of the AB=CD formation. Now, let’s look at the target points if the formation is completed. To determine the target point, we need to draw a Fibonacci from point A to point D again, and this Fibonacci shows us the price ranges where our target points coincide.

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If the formation works, the first target will be the 0.382 Fibonacci level, and the next target will be the 0.618 Fibonacci level. Our formation target corresponds to the 1.618 Fibonacci level. However, until it reaches this point, profit realization can be done at higher Fibonacci levels.

When we look at the liquidation heat map for Synthetix (SNX) , we observe that the liquidations below have been cleared, and all the liquidations are now above. This situation can potentially lead to a rapid upward movement in prices.

SNX Liquidation Heat Map

When we look at the open position ratios, we see that there is an overall excess of SHORT positions in SNX in the general market. However, on the largest exchange, Binance, we observe that LONG positions are more dominant. Here, a market upward movement may occur to liquidate the excess open short positions in the overall market.

SNX Long/Short Ratio Chart

SNX Market Data

Market Cap: $1,020,823,009 (#64 ranked)

Volume (24h): $68,440,435 (#109 ranked)

Volume / Market Cap (24h): 6.70%

Circulating Supply: 304,151,006 SNX

Total Supply: 328,193,104 SNX

Fully Diluted Market Cap: $1,102,352,424

SNX Token can be easily bought and sold on Global Exchanges such as Binance, BitGet, Kucoin, Mexc, Huobi, and Gate.io.

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