SNX Explodes 100%: Ethereum's First Mainnet Perp DEX Launch Fuels Massive Rally in October 2025

On October 13, 2025, Synthetix (SNX) rocketed over 100% in 24 hours, surging from $0.85 to highs near $1.70 amid explosive volumes hitting $626 million—up 834% daily—while open interest (OI) skyrocketed. This parabolic move, recovering the tariff-crash losses from last week's $19 billion liquidation storm, is propelled by Synthetix's announcement of Ethereum mainnet's inaugural perpetual DEX launch in Q4, complete with a $1 million trading competition starting October 20. As DeFi perps mania grips markets post-Hyperliquid dominance, SNX's revival positions it as a frontrunner, blending Ethereum's security with CEX-like speed for gasless, multi-collateral trading.

Synthetix Perp DEX: Ethereum's Perps Revolution

Synthetix, the DeFi pioneer behind synthetic assets since 2018, returns to Ethereum L1 with a hybrid off-chain orderbook and on-chain settlement model—delivering sub-second executions without bridges. Key features include zero gas/settlement fees, up to 50x leverage on 50+ pairs, and multi-collateral support (wstETH, sUSDe, cbBTC) for yield-bearing positions. The DEX leverages $90 billion+ Ethereum liquidity, enabling strategies like staking wstETH while shorting ETH perps to capture funding rewards. Pre-launch stress-test: A one-month competition for 100 elite traders (via Kwenta points/pre-deposits), with $1M top prize, SNX rewards for top 10, and on-chain payouts in November.

• Launch Timeline: Q4 2025 mainnet; competition Oct 20-Nov 20.
• Innovation Edge: MEV-resistant CLOB; composability with Aave/Uniswap.
• Metrics Boost: TVL steady $21.5M; OI surge signals whale bets.
• Competition Perks: $1M grand prize; Infinex Patron NFTs for elites.

Why the 100% Pump? Perps Meta Meets ETF Hype

SNX's rally taps the perp DEX sector's explosion—Hyperliquid/Aster volumes at $1T monthly—while Grayscale whispers amplify ETF dreams. KOLs like Altcoin Sherpa hail it as "Ethereum's Hyperliquid killer," with RSI at 74 overbought yet momentum intact. Post-crash rotations favor SNX's L1 purity over L2 lags.

Trading Guide: Riding SNX's Momentum

Light position 1.62-1.69 range; average near 1.58, breakeven stop. Target 1.86; aggressive fast in/out at 1.99. Steady above 1.85 add; invalidation stop. Swing/trend: Hold weekly/NY open. Profitable: Scale gains; <4.60% daily or USDT.D <4.65% weaken, shift stables. Top 7D list: Light probe.

• Entry: 1.62-1.69 batches; 1.99 aggressive.
• Targets/Stops: 1.86/1.99 TP; breakeven.
• Style: Swing/trend; hedge mid-line.

In summary, SNX's 100% blast on Ethereum's first mainnet Perp DEX cements its comeback—batch dips on compliant DEXs, secure multi-sig, and join competition whitelist. Track Synthetix blog for alpha; in perps wars, SNX strikes back.