{"id":52511,"date":"2025-10-13T10:16:47","date_gmt":"2025-10-13T10:16:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=52511"},"modified":"2025-10-13T10:16:47","modified_gmt":"2025-10-13T10:16:47","slug":"synthetix-soars-120-as-derivatives-hype-reignites-defis-dino-coin","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=52511","title":{"rendered":"Synthetix Soars 120% as Derivatives Hype Reignites DeFi\u2019s ‘Dino Coin’"},"content":{"rendered":"
\n

Synthetix\u2019s native token SNX has jumped more than 120% in the past 24 hours, reclaiming levels not seen since before the 2022 market crash and sparking fresh conversation around the return of DeFi\u2019s earliest \u201cdino coins.\u201d<\/p>\n

A dino coin is a colloquial term for a token or coin that has was issued in a previous market cycle, in this case SNX was issued in 2018, well before rival derivatives-linked tokens like HYPE and ASTER.<\/p>\n

SNX rose from 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.<\/p>\n

Traders and analysts attribute the Monday rally to renewed attention on Synthetix\u2019s forthcoming perpetuals DEX launch, expected to be released on the Ethereum mainnet later this month.<\/p>\n

Crypto trader CryptoKaleo described<\/a> the move as a \u201cgod candle back to higher highs from before the market crash,\u201d while another labeled<\/a> SNX \u201cthe wildest chart of the day.\u201d<\/p>\n

\u201cThe new Synthetix perp DEX will soon launch, and after both Hyperliquid and Lighter had some hiccups, I am sure there is new optimism on what Synthetix can deliver,\u201d Route2FI wrote on X.<\/p>\n

Upcoming Perpetual War?<\/h3>\n

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.<\/p>\n

Now, Synthetix is hosting a well-timed trading competition on Oct. 20, which could lead to a rotation of capital from other trading venues.<\/p>\n

\u201cRise of the Dino Coin, $SNX comeback szn?\u201d wrote<\/a> analyst PrismNav, noting that Synthetix has now broken a four-year downtrend and could lead the so-called \u201cperp DEX war\u201d in light of the trading competition.<\/p>\n

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.<\/p>\n

What Next for SNX?<\/h3>\n

While SNX faded from the spotlight amid the rise of newer DEXs like Hyperliquid, the project\u2019s plan to re-establish its perp exchange on Ethereum and expand cross-chain liquidity through Optimism and Base has renewed investor interest.<\/p>\n

Technical traders also note that SNX\u2019s breakout above multi-year resistance could indicate a trend reversal after years of consolidation.<\/p>\n

Whether or not SNX can retain Monday’s gains remains to be seen, but for the time being; the \u201crise of the dino coin\u201d narrative is back and Synthetix is leading the charge.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Synthetix\u2019s native token SNX has jumped more than 120% in the past 24 hours, reclaiming levels not seen since before the 2022 market crash and sparking fresh conversation around the return of DeFi\u2019s earliest \u201cdino coins.\u201d A dino coin is a colloquial term for a token or coin that has was issued in a previous […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-52511","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/52511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52511"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/52511\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}