$SNX stabilizes at $0.44 as the protocol returns to Ethereum L1 with a high-performance perp engine and a new buyback model.
What's Happening:
SNX trades at $0.44, consolidating recent moves.
Mainnet Relaunch: Synthetix Perps V3 on Ethereum Mainnet is live, offering up to 50x leverage on BTC/ETH/SOL.
Tokenomics Shift: The protocol has transitioned from inflation to a "Buyback & Burn" model using trading fees.
sUSDe collateral integration is driving institutional efficiency, reportedly outperforming BlackRock's BUIDL in specific DeFi revenue metrics.
Why It Matters:
Synthetix is the "liquidity backbone" of DeFi. By returning to Mainnet with higher leverage and better tokenomics (burn vs inflation), it's targeting high-volume whales directly. The fee-burn mechanism aligns price with protocol success.
Technical View:
SNX is holding the $0.40 support. A breakout above $0.48 targets the $0.55 zone. The "Buyback" bid should provide a soft floor during dips.
🎯 Key Levels:
Support: $0.41 | Resistance: $0.48
24h Range: $0.41 - $0.45
💡 "Real revenue burns real supply."
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Synthetix #SNX #DeFi #BuybackAndBurn #CryptoTrading
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
