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.
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Trading Insights
Buyer Ratio
Traders
45
-41.56%
Buyers
24
-42.86%
Sellers
22
-38.89%
Searched
42
Market Stats
Market Cap
S$291.25M
2.95%
FDV
S$288.21M
Circ. Supply
343M SNX
Max Supply
340M SNX
Total Supply
344M SNX
Diluted Valuation
S$291.47M
Performance
Popularity
#185
Dominance
0.01%
Volume (24H)
S$12.03M
-23.58%
Volume (7D)
S$103.06M
Volume (30D)
S$427.42M
All time high
S$37.38
Price Change (1Y)
-72.99%
Additional info about Synthetix Network Token
Recent trends
The latest SNX price is S$0.85. Compared to Synthetix Network Token's value of S$0.82 from 24 hours ago, there's been a 3% increase, while the current price is -3% down from S$0.88 which was recorded one week ago. Synthetix Network Token's all time high is S$37.38, which was reached on February 14, 2021. This is a -98% change from its price today.
The current circulating supply of Synthetix Network Token is 343,466,217. This is 101% of its max supply of 339,889,850 SNX and 100% of its total supply of 343,889,850. The market cap is currently S$291.25M, which is a result of multiplying the current price of Synthetix Network Token(S$0.85) by the total supply(343,889,850 SNX). The fully diluted valuation of Synthetix Network Token is S$288.21M. The diluted valuation of Synthetix Network Token is S$288.21M.
Market details
SNX vs markets
↘ 79.54%
SNX vs BTC
↘ 82.19%
SNX vs ETH
↘ 60.21%
Tags
services
decentralized-exchange-dex-token
defi
derivatives
+8
Network & Addresses
Network | Address | |
|---|---|---|
Base | 0x22e6966B799c4D5B13BE962E1D117b56327FDa66 | |
Ethereum | 0xC011a73ee8576Fb46F5E1c5751cA3B9Fe0af2a6F | |
Polygon | 0x50B728D8D964fd00C2d0AAD81718b71311feF68a | |
Avalanche C-Chain | 0xBeC243C995409E6520D7C41E404da5dEba4b209B |
Price history
Time | Price | Change |
|---|---|---|
Today | S$0.85 | ↗ 2.82% |
1 Day | S$0.82 | ↗ 2.82% |
1 Week | S$0.88 | ↘ 3.17% |
1 Month | S$0.85 | ↘ 0.08% |
1 Year | S$3.29 | ↘ 72.99% |
FAQ
Synthetix (SNX) is a decentralized liquidity provisioning protocol designed to expand the cryptocurrency ecosystem by introducing synthetic assets that represent non-blockchain-based assets. Built on both the Ethereum mainnet and Optimism, Synthetix is collateralized by SNX, ETH, and LUSD. This collateralization allows for the issuance of synthetic assets (Synths) that mirror the value of underlying assets without requiring direct ownership. SNX tokens are locked in smart contracts as collateral whenever Synths are minted, enabling users to gain exposure to a variety of asset classes while maintaining a decentralized framework.
Synthetix operates by enabling users to stake their SNX tokens in a smart contract-based staking pool, which serves as collateral for minting synthetic assets (Synths). These Synths track the value of real-world assets, providing users with exposure to a broad range of financial instruments without holding the actual assets. Synthetix uses decentralized oracles to deliver accurate price data, ensuring Synths maintain their peg to the underlying assets. The protocol also migrated to Optimistic Ethereum to reduce gas fees and improve transaction speeds, enhancing the efficiency of Synth trading and minimizing latency for price updates.
Synthetix serves as a foundational layer for decentralized finance (DeFi) by offering deep liquidity and enabling the creation of synthetic assets that track non-blockchain assets. It supports various DeFi protocols like Kwenta for spot and futures trading, Lyra for options, Polynomial for automated options strategies, and liquidity platforms like 1inch and Curve for atomic swaps. Users can trade Synths autonomously on decentralized exchanges (DEXs) without slippage, benefiting from a seamless trading experience. Additionally, SNX holders can participate in staking pools and earn a share of transaction fees generated on the Synthetix Exchange.
Synthetix was originally launched in September 2017 as Havven (HAV) by Kain Warwick. In 2018, the project rebranded to Synthetix, shifting its focus from stablecoins to a broader synthetic asset protocol. Warwick, the founder, is also a non-executive director at the blueshyft retail network and has contributed to several other blockchain projects. The leadership team includes Peter McKean, CEO, with over 20 years of software development experience, and Jordan Momtazi, COO, who brings expertise in blockchain, digital payments, and e-commerce. Justin J. Moses, the CTO, previously served as director of engineering at MongoDB and co-founded the auction platform Pouncer.
We update our Synthetix Network Token to SGD currency in real-time. Get the live price of Synthetix Network Token on Coinbase.
The current market cap of Synthetix Network Token is S$291.25M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Synthetix Network Token is S$37.38. This all-time high is highest price paid for Synthetix Network Token since it was launched.
Over the last 24 hours, the trading volume of Synthetix Network Token is S$12.03M.
Assets that have a similar market cap to Synthetix Network Token include Aave SNX V2, Zilliqa, Baby Doge Coin, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Synthetix Network Token is 343 million.
Synthetix Network Token ranks 104 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 66% of Coinbase users are buying Synthetix Network Token. In other words, 66% of Coinbase customers have increased their net position in Synthetix Network Token over the past 24 hours through trading.
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