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Synthetix (SNX)

Synthetix (SNX)

The price of Synthetix is $2.69, a -10.70% change over the last 7 days. Learn more about Synthetix’s price history, how it works, and how to invest.

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Updated: May 27, 2024
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Overview
Markets
Historical Data
Price Statistics
Synthetix price today
24h Change $0
24h Low $2.61
24h High $2.70
Market Cap $881.43M
Trading Volume (24h) $32.60M
Market Dominance 0%
Market Rank #97
Circulating Supply 327.77M
Max Supply -

No live data available

Synthetix markets

Spot Derivatives OTC
# Source Pairs Price +2% Depth -2% Depth Volume Updated
1
Binance Binance
SNX/USDT $2.83 $130,264.33 $166,725.66 2,991,231 Recently
2
Coinbase Exchange Coinbase Exchange
SNX/USD $2.83 $72,390.88 $103,789.41 560,918 Recently
3
Binance Binance
SNX/BUSD $1.93 $29,611.10 $26,857.49 31,180 Recently
4
Bithumb Bithumb
SNX/KRW $2.85 $7,499.90 $15,939.91 203,838 Recently
5
KuCoin KuCoin
SNX/USDT $2.81 $38,784.29 $55,731.34 69,488 Recently
6
Binance Binance
SNX/BTC $2.83 $12,394.35 $28,714.54 52,414 Recently
7
Kraken Kraken
SNX/USD $2.82 $75,076.38 $83,173.03 73,348 Recently
8
Coinbase Exchange Coinbase Exchange
SNX/GBP $2.83 $10,059.79 $15,723.97 7,250 Recently
9
Kraken Kraken
SNX/EUR $2.82 $53,550.16 $56,426.29 4,477 Recently
10
Binance Binance
SNX/ETH $2.90 $1,577.72 $4,289.57 27,307 Recently
1
Binance Binance
SNX/USDT $2.83 - - 16,470,960 Recently
2
KuCoin KuCoin
SNX/USDT $2.82 - - 183,424 Recently
3
Kraken Kraken
SNX/USD $2.82 - - 48,059 Recently
4
dYdX dYdX
SNX/USD $2.82 - - 98,726 Recently
5
OKX OKX
SNX/USDT $2.83 - - 4,439,242 Recently
6
Bybit Bybit
SNX/USDT $2.83 - - 2,874,833 Recently
7
Huobi Huobi
SNX/USDT $2.31 - - 6,013,373 Recently
8
Gate.io Gate.io
SNX/USDT $2.82 - - 249,081 Recently
9
Bitget Bitget
SNX/USDT $2.83 - - 506,885 Recently
10
Crypto.com Exchange Crypto.com Exchange
SNX/USD $2.81 - - 12,022 Recently
No data found
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About Synthetix

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Resources

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What is the Synthetix price today?

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The SNX price is currently $2.69. The price of Synthetix is -4.42% over the last 30 days. You can use the live Synthetix chart to track the SNX/USD price in real time above, or compare the Synthetix value today to its past performance using the Synthetix price history tab at the top of this page.

What is the total supply of SNX?

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The circulating supply is 327,769,196.14 SNX, out of a total maximum supply of 0.00 SNX.

What is the price prediction for Synthetix?

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The average Synthetix price prediction values the coin at $7.00 by the end of 2023. Things like the economic climate, and the crypto market as a whole can all have an impact on the price.

It’s best to take predictions with a grain of salt but you can use expert estimates to help you understand the weight of opinion about a coin.

What is Synthetix?

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Synthetix is two things: a cryptocurrency exchange, and a facility for users to ‘mint’ their own virtual tokens on the Ethereum blockchain. The newly minted tokens are known as ‘synths’, while SNX is the platform’s native token.

Users can create their own assets on Synthetix. These synths are linked to the value of what users choose them to represent in the real world, and they can then be traded on the Synthetix Exchange. 

How does Synthetix work?

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Synthetix works by using cryptocurrency as a means to make investing and trading more accessible and convenient. The Ethereum-based exchange is an ecosystem populated with user-created synths that track the price of their real-world representation by using something called Chainlink.

Synths are exchanged within the Synthetix Exchange: a peer-to-peer marketplace that combines the best components of cryptocurrency – decentralisation and flexibility – with a robust platform with familiar exchange mechanisms and market dynamics.

How is the Synthetix network secured?

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To ensure the platform remains secure, Synthetix incorporates a staking mechanism that rewards users for staking SNX tokens to provide liquidity to the exchange.

Synthetix also tries to prevent the marketplace from becoming unstable because to mint a synth, users must stake 750% of the worth of their synths in the form of SNX. This acts as a buffer against major market price swings.

What is Synthetix used for?

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On Synthetix, users can make their own digital assets. These assets are connected to the worth of whatever users want them to represent. Then, they can sell or buy these assets on the Synthetix Exchange.

Users can gain exposure to any asset in virtual form, including synth currencies like sUSD (USD), synth cryptocurrencies like sBTC (Bitcoin), synth stocks like sTSLA (Tesla), and synth commodities like sAu (gold).

Why does SNX have value?

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The real advantage of Synthetix is that it allows users to gain exposure to any investment class they want without signing up to a centralised body.

The platform is designed to make investing flexible and accessible for all, and investors can even take up a short position by using an ‘inverse synth’ like iBTC, which will gain value when Bitcoin (BTC) falls in price.

Who created Synthetix?

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Kain Warwick launched the Havven (HAV) network in 2017 – approximately a year later, HAV rebranded to Synthetix. Before starting Synthetix, Warwich was involved in several other cryptocurrency projects. Synthetix is currently headed by CEO Peter McKean, who has over 20 years of experience in programming and software development.

Where can I buy Synthetix?

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You can buy Synthetix on either a centralised cryptocurrency exchange (CEX) or decentralized exchange (DEX), depending on its availability. An exchange is a marketplace that allows you to sign up, deposit your money, and buy some crypto, just as you would with a stock trading platform.

Our guide on how & where to buy Synthetix explains step-by-step exactly how to get started with a reliable crypto exchange, or via one of the most popular decentralized exchanges.

Most cryptocurrency brokers allow you to keep the coins you buy in your account. However, you may want to sign up for a dedicated crypto wallet for some extra security.

Are there any other ways to invest in Synthetix?

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The simplest way to invest in Synthetix is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.

You can also invest in crypto more generally through a crypto ETF or a crypto fund. These are financial instruments that give you exposure to a group of leading cryptocurrencies, more suited to high net worth individuals.

Are there any Synthetix alternatives?

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Synthetix is a decentralised crypto exchange and several other networks offer a similar platform. Here’s a quick look at some Synthetix alternatives.

  • Kraken. Kraken lets you stake leading DeFi coins.
  • Binance. Binance offers 300 digital assets for staking.
  • Coinbase. Coinbase offers automatic rewards payouts for qualifying coins.

More crypto guides

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FAQs

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Is Synthetix safe?
Has Synthetix been hacked?
Charlie Hancox
Financial Writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.

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