Synthetix (SNX) has experienced a remarkable 100% price surge in the past 24 hours, reaching approximately $1.86. This rapid recovery follows a recent market downturn and is fueled by renewed investor interest in decentralized finance (DeFi) and synthetic asset protocols. The Synthetix team is gearing up to launch a permanent decentralized exchange (DEX) on Ethereum, which will feature gas-free transactions and multi-collateral support. Additionally, a $1 million trading competition associated with the DEX launch has significantly increased community engagement and trading volume.