SNX Live Price Summary
As of today, the global cryptocurrency market cap stands at $197.37M, reflecting a -4.87% change over the past 24 hours.
- Current Price: $0.574482
- 24H Trading Volume: Not available
- 24H Performance: -4.84%
- Circulating Supply: 343.47M SNX
- Max Supply: 343.89M SNX
- Market Cap Rank: #283
- 24H Range: $0.570324 (low) – $0.60765 (high)
Historical Price Milestones
All-Time High (ATH)
📈 $28.53 (February 14, 2021)
All-Time Low (ATL)
📉 $0.0347864 (January 6, 2019)
About Synthetix Network (SNX)
What Is Synthetix?
SNX is the native ERC-20 token of Synthetix, an Ethereum-based DeFi protocol specializing in synthetic assets (synths). Synths track the price of fiat currencies (e.g., sUSD) or cryptocurrencies (e.g., sBTC) and are minted by staking SNX as collateral.
🔹 Key Features:
- Derivative Crypto Assets: Synths mimic real-world assets.
- Decentralized Trading: Synths are traded on Kwenta, a spin-off DEX.
- Price Oracles: Powered by Chainlink.
SNX Price History
- 2018–2019: Traded below $1 after rebranding from Havven (HAV).
- 2020–2021: Surged to ATH ($28.53) during the DeFi boom.
- 2022–2023: Declined below $2, with a recovery to **$2.50+** in early 2023.
SNX Utility & Tokenomics
Primary Use Cases
- Staking: Collateralize SNX to mint synths and earn rewards (SNX/sUSD).
- Governance: SNX stakers vote in DAO elections for protocol upgrades.
Token Supply Breakdown
| Allocation | Share |
|------------|-------|
| Investors & Sales | 60% |
| Team & Advisors | 20% |
| Foundation | 12% |
| Partnerships | 5% |
| Bounties | 3% |
🔹 Inflation Model:
- Initial APR: 75% (2019), decreasing weekly to 2.5% (fixed since 2023).
FAQs
How to Buy SNX?
👉 Buy SNX on Bybit via USDT pairs (e.g., SNX/USDT).
Is SNX a Good Investment?
Due diligence is advised. Consider:
- Market Volatility (24H range: $0.57–$0.61).
- Historical Performance (ATH: $28.53; ATL: $0.034).
How to Store SNX?
Recommended wallets: MetaMask, Ledger, Trust Wallet.
Final Thoughts
Synthetix remains a pioneer in synthetic assets, leveraging DeFi innovations. For traders, monitoring its staking rewards and governance updates is key.
👉 Explore SNX Trading to dive deeper into this dynamic asset!