The post Synthetix Roars Back With 150% Rally as DeFi Dinosaurs Reclaim Their Throne appeared on BitcoinEthereumNews.com. SNX price skyrockets over 150%, hitting $2.51 amid massive 1,500% surge in trading volume. Launch of Synthetix’s new perpetual DEX on Ethereum sparks strong market excitement. The native token of Synthetix has seen an impressive rise, surging more than 150% in a single day as investors flock back to the old protocols. The dramatic price action caused SNX to be pushed out of the range of around $1.00 to over $2.35 with short-term highs of $2.51 in the trading session of Monday. The volume of trading shot up to an unprecedented $979 million, which is an incredible over 1,500% increase over the normal levels of daily activity in different exchanges. According to market observers, there are a number of reasons why renewed investor confidence in the 2018-vintage token, which is older than more recent derivatives platforms by far, has been restored. The next perpetuals decentralized exchange will be launched on the Ethereum mainnet later this month, which has created a lot of excitement among derivatives traders around the world. New Competition Reshapes DeFi Landscape The recent difficulties of rival platforms Hyperliquid and Lighter have provided the established protocols with a chance to reclaim the market focus successfully. Synthetix is in a good position to take advantage of this changing competitive dynamic through its future perpetual exchange offering and infrastructure. The project will also carry out a high profile trading competition on October 20, where influential influencers will be invited to showcase the capabilities of the platform. Such a strategic marketing campaign may shift a substantial amount of capital flows of competing trading platforms to the ecosystem and products of Synthetix. Technical analysts observe that SNX has managed to overcome a four-year downward trend, and it may experience a long-term upward trend in the future. The token is currently trading at… The post Synthetix Roars Back With 150% Rally as DeFi Dinosaurs Reclaim Their Throne appeared on BitcoinEthereumNews.com. SNX price skyrockets over 150%, hitting $2.51 amid massive 1,500% surge in trading volume. Launch of Synthetix’s new perpetual DEX on Ethereum sparks strong market excitement. The native token of Synthetix has seen an impressive rise, surging more than 150% in a single day as investors flock back to the old protocols. The dramatic price action caused SNX to be pushed out of the range of around $1.00 to over $2.35 with short-term highs of $2.51 in the trading session of Monday. The volume of trading shot up to an unprecedented $979 million, which is an incredible over 1,500% increase over the normal levels of daily activity in different exchanges. According to market observers, there are a number of reasons why renewed investor confidence in the 2018-vintage token, which is older than more recent derivatives platforms by far, has been restored. The next perpetuals decentralized exchange will be launched on the Ethereum mainnet later this month, which has created a lot of excitement among derivatives traders around the world. New Competition Reshapes DeFi Landscape The recent difficulties of rival platforms Hyperliquid and Lighter have provided the established protocols with a chance to reclaim the market focus successfully. Synthetix is in a good position to take advantage of this changing competitive dynamic through its future perpetual exchange offering and infrastructure. The project will also carry out a high profile trading competition on October 20, where influential influencers will be invited to showcase the capabilities of the platform. Such a strategic marketing campaign may shift a substantial amount of capital flows of competing trading platforms to the ecosystem and products of Synthetix. Technical analysts observe that SNX has managed to overcome a four-year downward trend, and it may experience a long-term upward trend in the future. The token is currently trading at…