$SNX is the token of Synthetix, one of DeFi’s older core protocols, known for synthetic assets and infrastructure used by other DeFi apps. SNX moves when traders rotate into quality DeFi or when derivatives/perps volume heats up.

Why it can pump

Perpetuals narrative: perps demand → liquidity demand → protocol attention.

Ecosystem integrations can pull SNX into the spotlight again.

What to watch

Protocol metrics: perps volume, fees, active traders.

Governance updates: major upgrades can re-rate SNX quickly.

Broader DeFi mood: SNX often follows DeFi rotation cycles.

Risk

DeFi tokens can get hit hard during market risk-off.

Emissions/staking dynamics can pressure price if incentives change.

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SNX

0.365

+17.36%