Real-Time SNX Price Overview
Synthetix (SNX) is currently trading at $0.5722**, with a 24-hour trading volume of **$3,972,240. Over the past day, SNX has experienced a 5.63% decline, while showing a 1.75% decrease over the last week. Key metrics include:
- Market Cap: $196,520,756
- Circulating Supply: 343,466,217 SNX
- Max Supply: 339,889,850 SNX
- Market Rank: #158
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Historical Performance:
- Today's price is 98.01% below SNX's all-time high
- Current value represents 1,656.33% above its historical low
What Is Synthetix?
Synthetix (SNX) is the native token of the Synthetix protocol – a DeFi platform for issuing synthetic assets (Synths) on the Ethereum blockchain. As an ERC-20 token, SNX serves two primary functions:
- Collateral: Users stake SNX to mint Synths, which are locked in smart contracts
- Governance: SNX holders participate in platform decision-making
Unique Economic Model:
- Inflation rate gradually increases to 2.5%
- Designed to maintain price stability
- Avoids volatility from halving events
Staking Benefits:
- Exchange rewards (0.3%-1% of trading fees)
- Staking rewards (from inflationary supply)
- Distributed weekly
Understanding Synthetic Assets
Synths are tokenized derivatives that track the value of underlying assets without direct ownership. Five categories exist:
- Cryptocurrencies
- Forex currencies
- Commodities
- Indices
- Inverse assets
Key Features of Synthetix
Decentralized Platform:
- Issues synthetic assets
- Enables Synth trading
- Tracks assets via oracles
Governance Structure:
- Originally managed by Synthetix Foundation
Transitioned to DAO model in 2020:
- ProtocolDAO
- GrantsDAO
- SynthetixDAO
Synthetix Development Team
Founded in late 2017 by Kain Warwick, Synthetix evolved from the Havven project after raising $30M in funding. Warwick's prior experience includes:
- Blueshyft payment platform (2014)
- Pouncer auction platform (as CEO)
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Frequently Asked Questions
Q: What was SNX's highest price?
A: $28.77 (Feb 14, 2021)
Q: What was SNX's lowest price?
A: $0.0326 (Jan 5, 2019)
Q: Where can I trade SNX?
A: Major exchanges include Binance, KuCoin, and Kraken
Q: How does staking SNX work?
A: Users lock SNX in smart contracts to mint Synths and earn weekly rewards
Q: What makes Synths unique?
A: They provide exposure to assets without direct ownership through derivative contracts
Market Analysis & Trading Volume
- 24h Volume: $3.97M
- Price Volatility: Moderate
- Liquidity: Sufficient for most traders
Trading Considerations:
- Monitor Ethereum network fees
- Watch for DAO governance changes
- Consider staking rewards vs. trading strategies
For comprehensive SNX analysis, refer to the price charts above. All data updates in real-time to reflect market conditions.