Synthetix Relaunches Mainnet Perps to Capture L1 Volume.
What's Happening:
$SNX trades at $0.4150 (-0.95%) as it expands its product suite.
Perps DEX relaunched on Ethereum Mainnet with 50x leverage for BTC, ETH, and SOL.
Recent $1M trading competition boosted engagement metrics.
Price has stabilized near support, but still sits 83% below 2025 highs.
Why It Matters:
Synthetix is no longer just an L2 play. By returning to Mainnet, it captures the high-value whale volume that never left L1. This diversification of revenue streams is crucial for long-term survival.
Technical View:
$0.41 is the floor. It's a "do or die" level. Holding here could form a double bottom. Losing it targets $0.38. Upside resistance is stiff at $0.45.
🎯 Key Levels:
Support: $0.410 | Resistance: $0.450
24h Range: $0.412 - $0.425
💡 "Liquidity is king. Synthetix is expanding its kingdom back to the mainland."
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Synthetix #SNX #DeFi #Derivatives #CryptoNews
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.
