Synthetix's native token, SNX, has experienced a dramatic price surge, rallying 27% in 24 hours following its official listing on the Robinhood trading platform. The listing, announced by Robinhood on February 19, 2026, significantly expanded retail access to the token, triggering a sharp increase in spot trading demand.
At the time of reporting, SNX was trading near $0.3695. The listing catalyzed an 18% jump in 24-hour trading volume to $126 million, pushing the token's market capitalization to $123 million. Data indicates the rally was not solely retail-driven; the network's Open Interest (OI) in derivatives markets increased by $5 million to a total of $21 million. This simultaneous rise in price and OI typically signals fresh institutional or speculative capital entering the market.
Despite the powerful rally, SNX remains down nearly 98% from its all-time high of $28.77, highlighting the depth of its previous bear market. From a technical perspective, SNX has gained 58% since retesting a key descending triangle support level, marking a structural shift from compression to expansion. Analysts are now watching the $0.4254 price level, where a liquidity cluster of approximately $68,000 is positioned, as the next key short-term target for the bullish move.
The surge coincides with ongoing protocol developments for Synthetix, including changes around its sUSD stablecoin, such as staking requirement increases and buyback plans, which may have contributed to the positive sentiment.
