About Synthetix Network Token
Synthetix Network Token (SNX) is an Ethereum token that powers Synthetix, a decentralised synthetic asset issuance protocol. Synthetic assets are minted when token holders stake their SNX as collateral using Mintr, a decentralised application for interacting with the Synthetix contracts. The protocol currently supports synthetic fiat currencies, cryptocurrencies, and commodities.
Buy Synthetix Network Token
Trading Insights
Buyer Ratio
Traders
238
73.72%
Buyers
114
93.22%
Sellers
148
74.12%
Searched
506
Market Stats
Market Cap
£309.20M
-1.63%
FDV
£305.98M
Circ. Supply
343M SNX
Max Supply
340M SNX
Total Supply
344M SNX
Diluted Valuation
£310.39M
Performance
Popularity
#128
Dominance
0.01%
Volume (24H)
£56.23M
18.27%
Volume (7D)
£234.71M
Volume (30D)
£2.31B
All time high
£21.78
Price Change (1Y)
-13.75%
Past performance is not a reliable indicator of future results. Learn more about asset risks.
Investment risk
Baseline risk: All crypto-assets are risky, regardless of the type of token you hold. Here are some 'baseline' risks to be aware of before deciding to invest.
Investment risk: The performance of most crypto-assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto-assets.
Lack of protections: Crypto-assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto-asset investments.
Crypto-assets are complex: It may be difficult to understand the risks associated with a crypto-asset investment. Do your own research and if something sounds too good to be true, it probably is.
Don't put all your eggs in one basket: Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments such as crypto-assets.
Defi tokens: Decentralised Finance (or 'DeFi') tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology.
Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens.
Regulatory risk: DeFi operates in a decentralized manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets. For example, the Perpetual Protocol (PERP) and Quickstop (QUICK) protocols may be accessible in jurisdictions where some or all the available activity may need to be regulated now or in the future. If a regulator deemed the activity to be in breach of regulation, this could seriously impact token value.
Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens.
Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles'. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols.
Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.
Additional details
Recent trends
The price of Synthetix Network Token has decreased by 1.55% in the last hour and decreased by 0.86% in the past 24 hours. Synthetix Network Token’s price has also fallen by 27.99% in the past week. The current price is £0.90 per SNX with a 24-hour trading volume of £56.23M. Currently, Synthetix Network Token is valued at 95.87% below its all time high of £21.78. This all-time high was the highest price paid for Synthetix Network Token since its launch.
The current circulating supply of Synthetix Network Token is 343,466,216.998 SNX which means that Synthetix Network Token has as total market cap of £309,196,540.56.
Market details
SNX vs markets
↘ 50.46%
SNX vs BTC
↘ 47.86%
SNX vs ETH
↘ 47.41%
Tags
services
decentralized-exchange-dex-token
defi
derivatives
+10
Network & Addresses
Network | Address | |
|---|---|---|
Base | 0x22e6966B799c4D5B13BE962E1D117b56327FDa66 | |
Ethereum | 0xC011a73ee8576Fb46F5E1c5751cA3B9Fe0af2a6F | |
Polygon | 0x50B728D8D964fd00C2d0AAD81718b71311feF68a | |
Avalanche C-Chain | 0xBeC243C995409E6520D7C41E404da5dEba4b209B |
Price history
Time | Price | Change |
|---|---|---|
Today | £0.90 | ↘ 0.86% |
1 Day | £0.92 | ↘ 0.86% |
1 Week | £1.25 | ↘ 27.99% |
1 Month | £0.90 | 0.00% |
1 Year | £1.08 | ↘ 13.75% |
Past performance is not a reliable indicator of future results. Learn more about asset risks.
FAQ
Synthetix is a decentralized exchange that operates on blockchain technology. It allows users to trade synthetic assets, known as Synths, which mirror the value of real-world assets like currencies, commodities, or other cryptocurrencies. The platform is decentralized, meaning it functions without a central authority overseeing transactions. Trades are conducted directly between users with the help of automated smart contracts, ensuring security and transparency. Synthetix uses SNX, ETH, and LUSD as collateral to issue these Synths, with SNX tokens playing a crucial role in the system's security and stability.
Synthetix operates by allowing users to stake their SNX tokens in a staking pool. These staked tokens serve as collateral for the issuance of synthetic assets (Synths). Synths track the value of real-world assets, providing users with exposure to these assets without the need to hold them directly. The platform tracks the underlying assets using smart contract price delivery protocols called oracles. The protocol has transitioned to the Optimistic Ethereum mainnet to help reduce the gas fees on the network and lower oracle latency.
Synthetix Network Token news
Trending articles
Social stats
Popularity in posts
#107
Contributors
733
Posts
733
% About Synthetix Network Token
0.171%
Articles
1
Hold times
0 days
X (Twitter)
49.65% bullish
Sentiment
4.2 ★
Highlights
733 unique individuals are talking about Synthetix Network Token and it is ranked #107 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Synthetix Network Token has an average sentiment score of 4.2 out of 5. Finally, Synthetix Network Token is becoming less newsworthy, with 1 news articles published about Synthetix Network Token.
On Twitter, people are mostly bullish about Synthetix Network Token. There were 55.87% of tweets with bullish sentiment compared to 12.52% of tweets with a bearish sentiment about Synthetix Network Token. 44.13% of tweets were neutral about Synthetix Network Token. These sentiments are based on 8898 tweets.
On Reddit, Synthetix Network Token was mentioned in 138 Reddit posts and there were 322 comments about Synthetix Network Token. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
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