- The native token of Synthetix, SNX, surged more than 20% in 24 hours, reaching $0.79
- Daily volume jumped 700% to over $147 million as Synthetix benefited from a broad crypto rebound
- Synthetix network activity, including the launch of a perps DEX on Ethereum mainnet, supported SNX’s price
Synthetix (SNX), a decentralized futures protocol supporting trading on Ethereum, saw its price rise roughly 20% over the past 24 hours as Bitcoin led a modest market rebound for cryptocurrencies.
The SNX token climbed alongside gains in Ethereum, Solana and XRP, touching an intraday high of $0.79.
The altcoin’s price increase was accompanied by a significant surge in daily volume, as bulls attempted to push momentum above a previously limiting zone near $0.80.
Synthetix (SNX) Pops 20% in 24 Hours — Here’s Why
The crypto market, still recovering from recent losses, is showing early signs of recovery as buyers try to regain control.
Bitcoin reclaimed important levels after a sharp dip, while Ethereum rose above $4,560 and held steady despite broader risk-off pressure.
Solana broke past $204 and XRP eyed $3.70, both reflecting improving market sentiment.
Against this backdrop, Synthetix rallied roughly 20%, standing out as one of the stronger performers.
The rally coincided with renewed strength in DeFi tokens, driven in part by the recent launch of the protocol’s first perpetuals exchange on the Ethereum mainnet — a development widely viewed as a primary catalyst for SNX’s momentum over the past week.
During this period, SNX posted double-digit gains aided by early deposit opportunities and a chance for traders to join the Synthetix mainnet’s alpha whitelist.
The launch of the SLP vault — a liquidity pool providing access to liquidity across the perp market and early opportunities to earn SNX rewards — spurred heightened market activity for Synthetix.
Network support for gasless trading on the mainnet was another significant step for the DEX.
Not for long.
Synthetix Mainnet will have gasless trading. https://t.co/Vdhuia1452
— Synthetix ⚔️ (@synthetix_io) August 26, 2025
SNX Price Forecast
With SNX trading around $0.79 and eyes set on $1, the altcoin remains far from its all-time high of $28.53 reached in 2021.
Synthetix has faced headwinds since being rejected at the December 2024 peak of $3.40.
Despite a generally negative longer-term trend, analysts are noting potential short-term recoveries for SNX’s price.
Should SNX break resistance levels at $0.80 and $0.85, bulls may target the psychological $1 mark.
Daily technical indicators support the uptrend: the Relative Strength Index (RSI) sits near 57, suggesting room for continuation, while the Moving Average Convergence Divergence (MACD) shows bullish momentum after a bullish crossover.
Nevertheless, volatility remains a concern, and the $0.60 zone could act as support if bears regain control.
Profit-taking and whale activity will be important to watch in the coming days following the 20% surge, as these flows could determine whether the rally sustains or retraces.