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Synthetix

SNX

Synthetix Market Stats

Synthetix Price

$22,014.48

Synthetix Price Change (24H)

$22,014.48

Synthetix Price (24H Low)

$22,014.48

Synthetix Price (24 High)

$22,014.48

Synthetix Price (All Time High)

$22,014.48

Synthetix Market Cap

$22,014.48

Synthetix Volume (24H)

$22,014.48

Synthetix Circulating Supply

$22,014.48

Synthetix Price Live Data

The live [Bitcoin] price today is [$20,014.48] with a 24-hour trading volume of [$44.6b]. The [BTC] price is updated in real-time. [Bitcoin] is [up/down] [45.77%] in the last 24 hours. The current [Bitcoin] live market cap is [$189,3B] with a circulating supply of [121.3M] [BTC] coins and a max supply of [21,000,000] [BTC] coins.

Looking to buy [Bitcoin] at the current rate? The best cryptocurrecny exchanges for trading for [Bitcoin] stocks and coins are Bitbuy, CoinSmart, NetCoins, Netwon, and Crypto.com; you can find other [Bitcoin]-[BTC] exchanges on our best crypto exchange, best crypto exchange in Canada and best crypto exchange in the USA pages.

What is Synthetix (SNX)?

Synthetix (SNX) is a software protocol that allows you to mint assets that are like those of the real world and cryptos. The Synthetix platform runs on the Ethereum blockchain. It does not need an intermediary to run its functions but uses smart contracts.

The assets are called Synths, and they follow a process called collateralization. To collateralize an asset, you must first purchase the Synthetix token. Then you can get the asset imitation. For instance, the synth asset Bitcoin is sBTC. And for the US dollar, you get sUSD.

Once you have locked your synths, the synthetic derivatives use oracles or special data feeds to track the value of the original asset. This exposes you to the asset’s current market value without holding it.

Who Created Synthetix (SNX)?

Since its launch in 2018, Synthetix has become one of the leading decentralized finance (DeFi) cryptocurrencies. The project, however, started as a stablecoin initiative called Havven and managed to raise $30 million after selling 60 million HAV tokens.

The initial goal of the founder, Kain Warwick, was to create digital assets that mimicked the performance of cash like the Euro. Towards the end of 2018, Havven rebranded to Synthetix and expanded its operations to create synthetic derivatives for other assets like cryptocurrencies and commodities.

A non-profit foundation initially oversaw the governance, but in June 2020, the body dissolved. Three Decentralized Autonomous Organizations took over the administration:

  1. GrantsDAO: handles community proposal funding for the public goods on the platform.
  2. ProtocolDAO: handles protocol changes and upgrades funding to the platform’s smart contracts.
  3. SythetixDAO: handles the funding for parties overseeing the network’s development.
Synthetix (Snx) Coin - Comparewise

How Does Synthetix (SNX) Work?

The Synthetix platform operates with two entities: SNX, its crypto asset, and synths, the asset derivatives. The synths use oracles to track and monitor the asset price of your underlying product.

This allows you to gain exposure to the actual asset, for instance, Bitcoin, Ethereum, and the US dollar, without holding the asset. And since the synths are Ethereum-based, you can deposit these assets on other DeFi platforms like Uniswap. The process of owning synths follows simple procedures.

The first one is as follows:

  1. Buy ETH on a crypto exchange.
  2. Convert the ETH to sUSD on Kwenta.
  3. Trade the sUSD for other synths on the platform.

The second one is as follows:

  1. Buy SNX tokens on a crypto exchange.
  2. Stake the SNX on Mintr.co, a Synthetix Dapp.
  3. Create your synths and trade them on Kwenta.

Also, note that these synths usually have a 600% collateralization ratio set by the community governance. And if your tokens remain at 600%, you get rewarded in staking rewards SNX) and exchange fees (sUSD).

Is Synthetix (SNX) a Good Investment?

The Synthetix token is an excellent asset to include in your investment portfolio. For one, it lets you invest in derivatives mimicking cryptocurrencies. And two, it is not limited to the number of derivatives you can venture into, be they currencies, rare commodities, or stocks.

The Synthetix platform is right for you if you believe traders will continue to use synthetic derivatives to mirror existing assets. Moreover, you can invest in synths to earn passive income from staking your derivatives.

Also, note that when you stake your tokens, they are locked out of supply, lowering the amount of SNX tokens in circulation. This action drives up the demand making the price rise. However, since the platform is Ethereum-based, you can expect to meet some bottlenecks. These include excessive traffic on the blockchain, driving high transaction prices.

FAQs about Synthetix (SNX)

How many Synthetix (SNX) are there?

According to CoinGecko, there are 228,123,024 SNX in circulation. This is more than half the total supply of 280,168,941 SNX expected to hit the market.

How is Synthetix (SNX) secured?

The Synthetix token, SNX, follows Ethereum’s ERC20 protocol. That said, it uses a proof of stake (POS) consensus method.

What can you use Synthetix (SNX) for?

You can use Synthetix to earn passive income by staking your tokens on the platform. Moreover, you can mint synths for trading with other supported assets.

Synthetix News

Loan Amount

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Best Synthetix Apps

Get $20 CAD in BTC with code: COMPAREWISE
Min Investment
$100
Coins Available
16+
Get a $50 Bitbuy bonus when you sign up
Min Investment
$250
Coins Available
25+
Get a $25 Netcoins bonus when you sign up
Min Investment
$10
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22+
Get $25 CAD Newton bonus with code: 9APOU9
Min Investment
$100
Coins Available
70+
Get a $30 Coinberry bonus when you sign up
Min Investment
$50
Coins Available
29+
Get a $30 Shakepay bonus when you sign up
Min Investment
$5
Coins Available
2+
Earn up to $16 worth of crypto in Coinbase
Min Investment
$25
Coins Available
100+
Trade Bitcoin free and get up to $100 in welcome rewards
Min Investment
$50
Coins Available
600+
Up to 500 USDT welcome bonuses for new users
Min Investment
$5
Coins Available
600+
Get $100 when you top up $1k + earn up to 20% APR
Min Investment
$1,000
Coins Available
300+
Trade crypto at competitive rates in Changelly
Low Fees
0.5% - 5%
Coins Available
200+
Trade crypto, stock, and metals in one place
Min Investment
$1
Coins Available
130+

Best Synthetix Wallets

Earn up to 8% yield on your crypto with Secure Wallet
Min Investment
$85 USD
Coins Available
70+
Limitless wallet addresses on one device
Storage Type
Cold
Coins Available
40+
Easy-to-use, ready within 10 minutes
Storage Type
Cold
Coins Available
1000+
Manage over 5,500 digital assets + install over 100 apps
Storage Type
Cold
Coins Available
100+
Full colour touchscreen + encrypted storage on cloud
Storage Type
Cold
Coins Available
1000+
Connect through Bluetooth + use Ledger Live app
Storage Type
Cold
Coins Available
100+
Earn up to $16 worth of crypto in Coinbase
Min Investment
$25
Coins Available
100+
Stake and earn almost up to 40% yield
Min Investment
$50
Coins Available
50+
Stake and earn 5%-20% APY + get cash back
Storage Type
Cold
Coins Available
300+
Manage multiple wallets in one platform
Storage Type
Software
Coins Available
IOTA
Earn up to 11.01% APR with staking crypto
Min Investment
$50
Coins Available
1 million+
Buy Crypto directly with USD, EUR, and GBP
Min Investment
1 XLM
Coins Available
255+

Synthetix Analysis

Synthetix (SNX) Analysis Summary

According to experts at Digital Coin, the Synthetix token can hit a maximum price of $5.64 towards the end of 2022. However, they expect the price to range from $5.64 to $6.18.

In 2023, experts from the Wallet Investor predict the price of one SNX to fall. On the other hand, Trading Beasts expect the price to hit $6.44 to $8.05 if the market continues to perform excellently.

Towards the last quarter of 2025, digital coin experts predict the price to average at $8.91. But the Trading Beasts experts have a more bullish price prediction at $12.10.

During the 2026-2030 period gap, technical analysts expect the Synthetix price to rise higher. This action will arise from the significant adoption the cryptocurrency ecosystem will likely see in the coming years.

So, while the short-term view presents lesser ROI, you can bet to earn more ROI if you hold your Synthetix (SNX) tokens in the long term.

Analysis Q&As

What is Synthetix price today?

Synthetix - SNX price today is [price] within 24-hour trading volume of [Volume].

What is Synthetix price in Canada?

Synthetix - SNX price today is [price] within 24-hour trading volume of [Volume].

What is Synthetix price in USA?

Synthetix - SNX price today is [price] within 24-hour trading volume of [Volume].

What was the highest price for Synthetix?

Synthetix hit an all time high of [All High].

What was the lowest price for Synthetix?

Synthetix had an all time low of [All Low].

What was the 24 hours trading volume of Synthetix?

The 24 hour trading volume of Synthetix is [Volume].

What Synthetix value has been traded in the past 24 hours?

The Synthetix value traded over the last 24 hour is [Volume].

Where can Synthetix be traded?

You can trade Synthetix on CoinSmart, Bitbuy, NetCoins, Newton, and Coinberry. The popular trading pairs for Synthetix in the market includes SNX/USD, Synthetix/CAD, Synthetix/EUR, Synthetix/GBP, and Synthetix/AUD. Synthetix is a token that is related to the DeFi, categories.

Where to buy Synthetix in Canada?

You can buy Synthetix in Canada on CoinSmart, Bitbuy, NetCoins, Newton, and more. Check out other popular Synthetix exchanges on our best crypto exchange in Canada article.

Where to buy Synthetix in USA?

You can buy Synthetix in USA on CoinSmart, Coinbase, Binance, KuCoin, and more. Check out other popular Synthetix exchanges on our best crypto exchange in the USA article.

What exchange is Synthetix on?

Online traders can buy or sell Synthetix (SNX) on the top crypto exchange, such as Crypto.com, Kraken, Binance, and FTX.

What wallets can store Synthetix?

You can store your Synthetix safely on Zengo, Keepkey, Trezor Model One, Ledger Nano S, and Trezor Model T wallet. To see more popular wallet visit our best crypto wallet article.

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Synthetix Price CAD Conversion

Convert Synthetix to CAD

SNX to CAD

SNX

CAD

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert CAD to Synthetix

SNX to CAD

CAD

SNX

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Convert 0.001 SNX to CAD

0.001 [BTC]

$26.19928 [CAD]

Synthetix Technicals

See Comparewise coin rating definitions for more information.

Synthetix Price Statistics
Synthetix Price Today

12/01/2022

Synthetix Price

$22,014.48

Synthetix Price Change (24H)

$22,014.48

Synthetix Price (24H Low)

$22,014.48

Synthetix Price (24H High)

$22,014.48

Synthetix Price (All Time High)

$22,014.48

Synthetix Market Cap

$22,014.48

Synthetix Volume (24H)

$22,014.48

Synthetix Circulating Supply

$121.3M

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