Synthetix Price

Synthetix Price(SNX)

Currency
Currency
Buy SNX
Trade SNX
You Buy
SNX
1 SNXUSD $1.843638
You Spend
Buy SNX
Binance has the lowest transaction fee rate amongst all major trading platforms.
Binance
0.1%
Kraken
0.26%
Coinbase
1.99%
$ 1.843638
+11.81%
1D
Page last updated: 2024-11-21 20:04 (UTC+0)
How do you feel about Synthetix today?
Good
0
Bad
0
Note: This information is for reference only.

Price of SNX today

The live price of Synthetix is $ 1.843638 per (SNX / USD) with a current market cap of $ 604.29M USD. 24-hour trading volume is $ 56.60M USD. SNX to USD price is updated in real-time. Synthetix is +11.81% in the last 24 hours with a circulating supply of 327.77M.
SNX Price History USD
Date ComparisonAmount Change% Change
Today$ 0.194725+11.81%
30 Days$ 0.30574+19.88%
60 Days$ 0.310334+20.24%
90 Days$ 0.236704+14.73%

SNX Market Information

24h Low & High
Low: $ 1.607306
High: $ 1.863097
The highest and lowest price paid for this asset in 24 hours.
All Time High
$ 28.77
The highest price paid for this asset since it was launched or listed.
Price Change (1h)
-0.7%
The percentage change in price for this asset compared to 1 hour ago.
Price Change (24h)
+11.81%
The percentage change in price for this asset compared to 24 hours ago.
Price Change (7d)
+20.89%
The percentage change in price for this asset compared to 7 days ago.

SNX Market Information

Popularity
#125
Popularity is based on the relative market cap of assets.
Market Cap
$ 604.29M
Market cap is calculated by multiplying the asset's circulating supply with its current price.
Volume (24hours)
$ 56.60M
The total dollar value of all transactions for this asset over the past 24 hours.
Circulation Supply
327.77M
The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.
Total Maximum Supply
--
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
Fully Diluted Market Cap
$ 605.07M
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
Issue Date
2018-03-12

What Can You Do With Synthetix (SNX)?

Explore how to use your cryptocurrencies with Binance.

About Synthetix (SNX)

Synthetix is a decentralized protocol built on Ethereum and Optimism, which allows users to mint and trade synthetic assets. These synthetic assets, also known as cryptocurrencies, derive their values from a variety of associated commodities, fiat currencies, stocks, and other synthetics.

The protocol recently deployed its Version 3 (v3) on the Ethereum mainnet, introducing a more efficient architecture that facilitates the creation of faster and more complex decentralized financial applications.

Synthetix uses ERC-20-based contracts, known as synths, which act as the critical elements that make up the synthetically priced tokens available on the platform. Each asset's price on Synthetix is reflected accurately without the holder needing to own any stake, differing from tokenization, where tokens represent actual ownership of underlying assets. This allows Synthetix to function as a decentralized market completely based on algorithms, purportedly eliminating concerns about the settlement of underlying assets upon sale or other liquidation measures.

Synthetix's native cryptocurrency, SNX, powers the protocol. It is used to mint synthetic assets, which can then be traded on decentralized exchanges like Kwenta and others. Thus, SNX acts as collateral that backs the minted tokens within the Synthetix ecosystem. Market maker and investment firm DWF Labs recently made a significant investment in Synthetix, purchasing a substantial amount of SNX tokens.

The protocol also launched the Synthetix Perps Optimism Trading Incentives program, an initiative designed to boost trading activity on the Optimism network. The program offers trading rewards to users, starting from the first week of trading.

Synthetix reached a new milestone with $490 million in daily trading volume, as of March 2023 and holds over $450 million in locked tokens over the Ethereum and Optimism blockchains. Synthetix price is updated and available in real time on Binance.

People Also Ask: Other Questions About Synthetix

  1. What is Kwenta?

    Kwenta is a DEX developed by and for the Synthetix ecosystem. Contracts — called Synths — represent the value of associated synthetic assets and are tradeable on the Kwenta DEX, as well as other existing protocols in the decentralized finance (DeFi) landscape.

  2. What is SNX Used For?

    SNX tokens are used as currency and a form of collateral for users to create and mint new synthetic asset tokens. SNX price fluctuates in accordance with the multiple elements in its interconnected ecosystem.

  3. Who is the Synthetix Founder?

    Synthetic was founded in 2017 by Kain Warwick, an Australian-born tech entrepreneur.

  4. What is the Maximum Token Supply of SNX?

    SNX has a maximum supply of 308 million tokens, with approximately 259 million in circulation at the time of writing.

  5. What Makes Synthetix Different From Others?

    Synthetix’s DEX, Kwenta, enables users to trade ETH for Synth-USD (sUSD) and any of the available Synths on the platform. Synths can also be created when a user stakes the cryptocurrency on the Minta decentralized app (DApp).

    Synths created through staked SNX tokens are backed by a 600% collateralization ratio, which is reportedly determined by a joint governance vote. Governance on Synthetix is shared among community members, core contributors, and several other committees and councils on which SNX holders vote. The network transitioned into a decentralized autonomous organization (DAO) community in 2020.

    Another function of Synthetix involve its associated synthetic assets. According to Synthetix, its users are able to hold and trade assets associated with a variety of derivatives, such as commodities, fiat currencies, and stocks.

  6. How To Buy SNX?

    SNX can be purchased directly from Binance using a debit or credit card and traded for other cryptocurrencies on the exchange. Live Synthetix price is updated in real time on Binance. Additional SNX price and purchase information is available in our How to Buy Synthetix (SNX) Guide.

SNX to Local Currency

FiatPriceOperation
1 SNX to TRY$ 1.843638
1 SNX to RUB$ 1.843638
1 SNX to EUR$ 1.843638
1 SNX to AED$ 1.843638
1 SNX to AUD$ 1.843638
1 SNX to BRL$ 1.843638
1 SNX to VND$ 1.843638
1 SNX to IDR$ 1.843638
Last updated 2024/11/21 08:04 (UTC)

Video Section

Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by Binance about the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. Binance is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an "as is" basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under Binance's control. Binance is not responsible for the reliability and accuracy of such third-party sites and their contents.