SNX has rebounded from a key ascending trendline at $0.62–$0.63, currently testing the 50-day SMA near $0.68. This price movement is accompanied by rising volume and market-cap recovery, indicating renewed buying interest. The anticipation is fueled by Synthetix's upcoming Q4 2025 launch of an Ethereum perpetual DEX. The new DEX will offer gasless trading and multi-collateral margin support, including assets like sUSDe, wstETH, and cbBTC. Additionally, a $1 million trading competition is planned to coincide with the launch, aiming to attract traders and boost platform engagement.