SNX rallies 5.5% as it launches its Perps V3 on Ethereum Mainnet, targeting high-value institutional traders.
What's Happening:
Perps V3 goes live on Ethereum Mainnet with 50x leverage
Move driven by unified liquidity and lower L1 costs (post-upgrades)
New markets to be added weekly; leverage to increase to 100x
Founder Kain Warwick cites Ethereum's readiness for high-freq finance
Why It Matters: Synthetix is the liquidity layer for many other protocols. Returning to mainnet with a highly efficient V3 engine allows it to capture the deep liquidity of ETH L1 that was previously fragmented across L2s.
Technical View: $SNX is waking up. The move to $0.42 is significant on increased volume. If it can clear $0.45, there is very little resistance until $0.55. Bottom appears to be in.
🎯 Key Levels:
Support: $0.400 | Resistance: $0.450
24h Range: $0.410 - $0.435
💡 Liquidity is water; it flows to where the infrastructure is best.
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Synthetix #SNX #DeFi #Ethereum #Derivatives
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.
