SNX Skyrockets Over 150%, Breaks $2.50 to Hit Yearly High
TradingKey – SNX has fully recovered losses from the “10/11 event” and surged to its highest level in nearly a year.
On Monday, October 13, the crypto market staged a broad recovery, with synthetic asset protocol Synthetix (SNX) leading the charge. Over the past 24 hours, SNX soared more than 150%, climbing from below $1 to above $2.50, marking a new yearly high.
SNX Price Chart – Source: TradingView
Back in late September, Synthetix announced plans to launch its first perpetual decentralized exchange (Perp DEX) in Q4, fueling a sustained rally of over 140%. However, on October 11, the U.S. tariff shock triggered a crypto-wide crash, sending SNX from $1.40 down to $0.50, nearly touching its historical low of $0.48.
SNX’s price action has resembled a rollercoaster — typical of small-cap altcoins. These assets are known for extreme volatility, and traders should exercise caution by managing leverage carefully to avoid liquidation risks.
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