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Synthetix (SNX) Price
Synthetix Price
Technical Analysis
Daily indicators based on 1d candle data
DeFi Analytics
Advantages of Cryptocurrency
Decentralization & Financial Freedom
Cryptocurrencies operate on decentralized networks, removing the need for intermediaries like banks. This enables peer-to-peer transactions, financial inclusion for the unbanked, and resistance to censorship or government control.
Transparency & Security
Blockchain technology provides an immutable, transparent ledger of all transactions. Cryptographic security makes it extremely difficult to counterfeit or double-spend, offering strong protection against fraud.
Global Accessibility
Anyone with an internet connection can send and receive cryptocurrency worldwide, 24/7, without geographic restrictions or banking hours. This is particularly valuable for international remittances.
Investment Potential
Cryptocurrencies have demonstrated significant long-term appreciation potential. Early investors in Bitcoin and Ethereum saw extraordinary returns, and the asset class offers portfolio diversification benefits.
Risks of Cryptocurrency
High Volatility
Cryptocurrency prices can fluctuate dramatically – often by 20–50% or more within short periods. This high volatility makes them inherently risky investments, and significant capital losses are possible.
Regulatory Uncertainty
The regulatory landscape for cryptocurrencies is still evolving globally. Sudden regulatory changes can significantly impact prices and accessibility, creating legal and compliance risks for investors and businesses.
Security Risks
Hacks, scams, and phishing attacks are prevalent in the crypto space. The irreversible nature of blockchain transactions means stolen funds are rarely recovered. Users must secure their private keys and wallets diligently.
Environmental Impact
Proof-of-Work cryptocurrencies like Bitcoin require substantial computational energy, raising environmental concerns. While the industry is transitioning toward more energy-efficient consensus mechanisms, the carbon footprint remains a significant criticism.
History of Cryptocurrency
The history of cryptocurrency begins with Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto. The Bitcoin whitepaper, published in October 2008, proposed a peer-to-peer electronic cash system enabling online payments directly between parties without going through a financial institution.
Bitcoin's first recorded commercial transaction occurred in May 2010 when Laszlo Hanyecz paid 10,000 BTC for two pizzas – a transaction now celebrated annually as Bitcoin Pizza Day.
The Rise of Altcoins
Following Bitcoin's success, thousands of alternative cryptocurrencies (altcoins) emerged. Ethereum, launched in 2015 by Vitalik Buterin, introduced smart contracts – self-executing agreements coded into the blockchain – enabling decentralized applications (dApps) and decentralized finance (DeFi).
The ICO Boom and Market Crash
The years 2017–2018 saw an explosion of Initial Coin Offerings (ICOs), where new projects raised funds by selling tokens. Bitcoin reached nearly $20,000 in December 2017 before crashing dramatically in 2018, triggering a prolonged crypto winter.
Institutional Adoption
The 2020–2021 bull run saw unprecedented institutional interest, with companies like MicroStrategy and Tesla adding Bitcoin to their balance sheets. Bitcoin hit new all-time highs above $60,000. The launch of Bitcoin ETFs and growing regulatory clarity further legitimized the asset class.
DeFi, NFTs & Web3
Decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), and the broader Web3 movement transformed the cryptocurrency landscape. Platforms like Uniswap, Aave, and OpenSea enabled entirely new financial and digital ownership models.
Today, the cryptocurrency market encompasses thousands of digital assets with a combined market capitalization in the trillions of dollars, representing a fundamental shift in how the world thinks about money, finance, and digital ownership.
Exchange
| Exchange | Market Pair | Price | Depth +2% | Depth -2% | Volume 24H | Volume % | Type | Liquidity Rating | Freshness |
|---|---|---|---|---|---|---|---|---|---|
| PayBito | SNX/ETH | 0.57 | 141,786.64 | 457,381.23 | 3.42 M | 0.26 | cex | 286.00 | 7/9/2025, 6:21 AM |
| AstralX | SNX/USDT | 0.57 | 17,899.76 | 17,926.96 | 2.26 M | 0.36 | cex | 8.00 | 7/9/2025, 6:21 AM |
| HTX | SNX/USDT | 0.57 | 1,679.80 | 4,582.78 | 581,385.56 | 0.03 | cex | 287.00 | 7/9/2025, 6:23 AM |
| BiKing | SNX/USDT | 0.57 | 69,712.60 | 6,148.62 | 537,296.26 | 0.03 | cex | 1.00 | 7/9/2025, 6:21 AM |
| Binance | SNX/USDT | 0.57 | 53,689.87 | 57,074.50 | 536,887.71 | 0.00 | cex | 624.48 | 7/9/2025, 6:23 AM |
| Hotcoin | SNX/USDT | 0.57 | 3,950.46 | 3,057.40 | 529,894.36 | 0.07 | cex | 136.00 | 7/9/2025, 6:23 AM |
| MEXC | SNX/USDT | 0.57 | 99,866.85 | 98,547.93 | 468,432.51 | 0.02 | cex | 512.00 | 7/9/2025, 6:18 AM |
| XXKK | SNX/USDT | 0.57 | 106,744.63 | 137,664.24 | 459,703.62 | 0.03 | cex | 104.00 | 7/9/2025, 6:21 AM |
| CoinUp.io | SNX/USDT | 0.57 | 1,740.10 | 1,928.24 | 439,875.09 | 0.02 | cex | 115.00 | 7/9/2025, 6:18 AM |
| TruBit Pro Exchange | SNX/USDT | 0.57 | 14,401.87 | 9,371.75 | 397,707.68 | 0.10 | cex | 196.00 | 7/9/2025, 6:21 AM |
Synthetix FAQ
Synthetix is developing a decentralized liquidity provisioning protocol accessible to any protocol for various purposes. Its extensive liquidity and low fees serve as a backend for numerous innovative protocols on both Optimism and Ethereum. User-facing protocols within the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), and 1inch & Curve (Atomic Swaps), utilize Synthetix liquidity to support their operations. Synthetix is deployed on Optimism and the Ethereum mainnet. The Synthetix Network uses SNX, ETH, and LUSD as collateral, facilitating the issuance of synthetic assets (Synths). Synths follow and provide returns on the underlying asset without requiring direct ownership. This pooled collateral supports a variety of on-chain, composable financial instruments backed by Synthetix liquidity. Among the most anticipated upcoming releases from SNX are Perps V2, intended to enable low-fee on-chain futures trading via the use of off-chain oracles, and Synthetix V3, which aims to reconstruct the protocol to fulfill its original objective of being a fully permissionless derivatives protocol. For more information about Synthetix, explore their blog or join the SNX Discord. The platform seeks to expand the cryptocurrency landscape by incorporating non-blockchain assets, offering access to a more comprehensive financial market.
The network was initially launched in September 2017 by Kain Warwick under the name Havven (HAV). Approximately a year later, the company underwent rebranding and emerged as Synthetix. Kain Warwick is the founder of Synthetix and serves as a non-executive director at the Blueshyft retail network. Before establishing Synthetix, Warwick was involved in several other cryptocurrency projects. He also founded Pouncer, a live auction site catering exclusively to Australia. Peter McKean, the project's CEO, possesses over two decades of experience in software development. His previous role was as a programmer at ICL Fujitsu. Jordan Momtazi, the Chief Operating Officer of Synthetix, is a seasoned business strategist, market analyst, and sales leader with extensive experience in blockchain, cryptocurrency, digital payments, and e-commerce systems. Justin J. Moses, the Chief Technology Officer, formerly served as the director of engineering at MongoDB and deputy practice head of engineering at Lab49. Additionally, he co-founded Pouncer. For further details, you can refer to Eulerpool.
Synthetix is a decentralized exchange (DEX) and a platform dedicated to synthetic assets. The protocol is structured to provide users with exposure to underlying assets through synths, without the necessity of holding the actual underlying asset. The platform enables users to autonomously trade and exchange synths. Additionally, it features a staking pool where holders can stake their SNX tokens and receive a portion of the transaction fees generated on the Synthetix Exchange. The platform employs smart contract price delivery protocols, known as oracles, to track the underlying assets. Synthetix allows users to trade synths effortlessly, mitigating liquidity and slippage issues. It also removes the need for third-party intermediaries. SNX tokens serve as collateral for minting synthetic assets. Consequently, when synths are issued, SNX tokens are locked in a smart contract. Since its launch, the protocol has transitioned to the Optimistic Ethereum mainnet to reduce network gas fees and decrease oracle latency.
The maximum supply of SNX is set at 212,424,133 coins, with 114,841,533 SNX in circulation as of February 2021. During the seed round and token sale stages, Synthetix successfully sold over 60 million tokens, raising a total of $30 million. Of the 100,000,000 coins issued during the ICO, 20% were allocated to the team and advisors, 3% to bounties and marketing incentives, 5% to partnership incentives, and 12% to the foundation.
The SNX token adheres to Ethereum’s ERC20 standard. The Synthetix network is protected through a proof-of-stake (PoS) consensus mechanism. Holders of Synthetix stake their SNX and receive earnings from the network fees. Additionally, SNX stakers can gain rewards through the protocol’s inflationary monetary policy, referred to as staking rewards.
SNX tokens can be acquired at leading exchanges, including: * Binance * OKEx * Coinbase Pro * Uniswap (V2) For more information on purchasing Bitcoin, refer to Eulerpool's comprehensive guide.
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