Synthetix‘s mainnet asset SNX coin gained over 120 percent in 24 hours on October 13, 2025, rising from $1.00 to over $2.20. The volume in the altcoin rose to $758 million, breaking the downward trend that lasted for years. Rally, Ethereum 
$4,157.04 It has gained momentum in anticipation of the trading competition kicking off on October 20, with a new indefinite futures exchange expected to go live on its mainnet this month. While the indefinite futures DEX war narrative in the market is gaining strength again, experts point out that there is a revival of interest in old protocols.
What’s Behind the Rise in SNX Coin?
The perpetual futures exchange that the Synthetix team will reposition on the Ethereum mainnet stands out on the calendar. During the planned pre-launch period, a trading competition will be held on October 20 with the participation of leading investors. This organization is expected to increase competition among intra-Blockchain derivative platforms by accelerating capital rotation. Some analysts commenting on X SNXHe emphasizes that breaking the four-year falling channel gives a technical trend reversal signal.
in recent weeks BNB Chain Aster, which gained market share on the market, and other indefinite futures DEXs, which stood out despite the outages controversy, caused the interest to dissipate. Synthetix’s return to an Ethereum-centric setup and its plan to grow multi-network liquidity through Optimism and Base is attracting fresh interest from institutional and individual participants. The 1120 percent increase in volume stands out as flow-based evidence supporting the price action.
Possibility of Return of Dino Coins
The narrative of well-established altcoins issued in previous cycles, referred to as “dino coins” in the market, is on the agenda again. The sharp rise of SNX, which originated in 2018, brought the interest in derivative product-based protocols back to the headlines and showed that established names could also play a role in the new cycle. altcoinThe price of ‘s price reached up to $2.30 and then entered a digestion movement, indicating that profit-taking and news flow-dependent volatility may continue in the short term.
While overcoming multi-year resistances in the technical outlook will create room for strength in the medium term, the launch schedule and competition metrics will be critical in terms of sustainability. Microstructure elements of the new platform such as order execution quality, funding rates and market depth may determine the permanence of the momentum gained. The continuation of the narrative will depend on the harmony of spot/derivative correlation with on-blockchain volumes.
