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Synthetix Price
Synthetix price

Synthetix Price(SNX)

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1 SNX =
USD $3.188228
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Last updated 2024/04/13 11:51 (UTC)
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1.99%
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0.26%
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0.1%
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$ 3.188228
-17.55%
1D
Page last updated: 2024-04-13 11:51 (UTC+0)
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Note: This information is for reference only.

Price of SNX today

The live price of Synthetix is $ 3.188228 per (SNX / USD) with a current market cap of $ 1.05B USD. 24-hour trading volume is $ 93.49M USD. SNX to USD price is updated in real-time. Synthetix is -17.55% in the last 24 hours with a circulating supply of 327.77M.
SNX Price History USD
Date ComparisonAmount Change% Change
Today$ -0.678492-17.55%
30 Days$ -1.589824-33.27%
60 Days$ -0.413432-11.48%
90 Days$ -0.50106-13.58%

SNX Price Information

24h Low & High
The highest and lowest price paid for this asset in 24 hours.
Low: $ 3.06532
High: $ 3.867559
The highest and lowest price paid for this asset in 24 hours.
All Time High
The highest price paid for this asset since it was launched or listed.
$ 28.77
The highest price paid for this asset since it was launched or listed.
Price Change (1h)
The percent change in trading volume for this asset compared to 1 hour ago.
-0.45%
The percent change in trading volume for this asset compared to 1 hour ago.
Price Change (24h)
The percent change in trading volume for this asset compared to 24 hours ago.
-17.55%
The percent change in trading volume for this asset compared to 24 hours ago.
Price Change (7d)
The percent change in trading volume for this asset compared to 7 days ago.
-19.34%
The percent change in trading volume for this asset compared to 7 days ago.

SNX Market Information

The percentage of Binance customers who increased or decreased their net position in BTC over the past 24 hours through trading.
Popularity
Popularity is based on the relative market cap of assets.
#87
Popularity is based on the relative market cap of assets.
Market Cap
Market cap is calculated by multiplying the asset's circulating supply with its current price.
$ 1.05B
Market cap is calculated by multiplying the asset's circulating supply with its current price.
Volume (24hours)
The total dollar value of all transactions for this asset over the past 24 hours.
$ 93.49M
The total dollar value of all transactions for this asset over the past 24 hours.
Circulation Supply
The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.
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 '--'.
--
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
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 '--'.
$ 1.05B
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 '--'.

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 USD$ 3.188228
1 SNX to TRY$ 3.188228
1 SNX to RUB$ 3.188228
1 SNX to EUR$ 3.188228
1 SNX to AED$ 3.188228
1 SNX to AUD$ 3.188228
1 SNX to BRL$ 3.188228
1 SNX to VND$ 3.188228
1 SNX to IDR$ 3.188228
Last updated 2024/04/13 11:51 (UTC)

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