SNX
Synthetix
SNX

Synthetix price

in USD
$1.031
-$0.0641 (-5.86%)
USD
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Market cap
$358.51M #86
Circulating supply
343.47M / 343.89M
All-time high
$28.99
24h volume
$93.01M
4.0 / 5
SNXSNX
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About Synthetix

Synthetix (SNX) is a decentralized finance (DeFi) protocol that enables the creation and trading of synthetic assets, which are digital versions of real-world assets like stocks, commodities, and cryptocurrencies. Built on Ethereum, Synthetix allows users to gain exposure to these assets without needing to own them directly. The platform uses a unique collateralization model where users lock up SNX tokens to mint synthetic assets, ensuring liquidity and stability. SNX holders also earn rewards for participating in the network. Synthetix is known for its innovative approach to decentralized derivatives, offering users a secure and transparent way to trade synthetic assets with low slippage. Its focus on Ethereum’s security and composability makes it a trusted choice for DeFi enthusiasts.
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Last audit: Jun 3, 2021, (UTC+8)

Synthetix’s price performance

Past year
-38.31%
$1.67
3 months
+82.86%
$0.56
30 days
+45.66%
$0.71
7 days
+69.15%
$0.61

Synthetix on socials

Greta008
Greta008
Remember one thing: If a project you are very optimistic about hasn't been listed yet, there will definitely be people spreading crazy FUD. They absolutely don't have any chips in hand and are reluctant to spend money to acquire chips. There is no such thing as someone holding a bunch of chips and still spreading FUD; if you spent money to acquire a large number of chips, would you spread FUD? Would you? Now, treat all FUD wildcards this way.
Greta008
Greta008
Regarding wildcard, I just want to say two points. First, currently the investment cost is 0.07, with a total supply of 88,888,888, and if the opening market value is on par with the cost, it would be 6.22 million USD. Have you ever seen a project that Paradigm invested 55 million in with such a low market value? Even a random project with backing can easily reach 50 million. Second, some people say that the projects Paradigm invests in are trash. I don't know how they can say that; many of the large airdrops I received were from Paradigm's investments. Paradigm has invested in a total of 109 projects, leading 84 of them, with 34 projects already having issued tokens. To be more persuasive, I have listed them all for you. From the perspective of "comparing the current market value of wildcard to the token prices" among the 34 projects, 26 can reach above 0.68, which means nearly 10 times the return. Only the comparisons for projects 31-34 are very low because these were issued early and are close to zero. However, if you look at the "token prices at the highest market value" for projects 31-33, they are also above 1.35, with only the last one at 0.21, and the financing is still unknown. Looking at the other values in the "token prices at the highest market value" column is simply full of imagination; the periods of major bull markets in October to December have always been like this. Moreover, wildcard (@Thousandsxyz) is Paradigm's investment of 55 million over two rounds after three years, which is considered above average among these project financings, and I trust Paradigm's vision. Let the data speak; how can we lose? I also released three tables in early May, whether from the statistics of Paradigm's investment project market value performance, or the statistics of market value performance of similar game projects, or the statistics of market value performance of projects with 50 million in financing, wildcard is worth looking forward to. Don't be influenced by any FUD; most of the current FUD is just saying that the project team is slow to act, but in fact, they are mainly preparing for the Steam New Product Festival, continuously refining the project, and a new trailer will be coming out soon.
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Wu Blockchain
Wu Blockchain
According to Wu, Binance announced that it will launch the AEVO/USDC, ME/USDC, and SNX/USDC spot trading pairs on September 30, 2025, at 16:00 (UTC+8), and will also open trading bot services for the above trading pairs.
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Crypto二狗
Crypto二狗
Many people immediately say, "Small principal? No chance!" But back then, I only had 3000U, and I managed to grind my way up from a "small fry" to a "big shark" that could turn the tables. Step 1: Small positions for guerrilla tactics, take profits when you can. At that time, I was like a rookie, with only 3000U in hand, too scared to rush in. I only dared to take small positions to test the waters, entering and exiting quickly. When the market gave me a little profit, I immediately took my knife back, without dragging my feet. Just like that, I chewed my way from 3000U to 12600U. Others laughed at my small gains, but I knew in my heart: this step was the lifeline for survival. Step 2: Use profits as bullets, never touch the principal. Once the market direction was clear, I changed my strategy to increase my positions, but only using profits! The principal was treated like a sacred tablet, never to be touched. This way, even if there were fluctuations later, the only thing lost would be profits, while the base capital remained as solid as a rock. With this tactic, my capital surged to 50,000U, with zero damage to the principal throughout. Step 3: A big market move strikes decisively. The real turnaround came during that explosive rise. My positions were all built from profits, and when the opportunity arose, I held on tight and struck decisively. Profits rolled into profits, riding the wave of the market, and I surged all the way to 120,000U. Looking back, I wasn't the smartest, nor did I have any insider information. The difference was: while others kept switching strategies, I stuck to three iron rules—no greed, no chaos, and never touch the principal. Opportunities didn't pass me by; rather, most people were too loose and anxious, getting themselves wrecked halfway. Brothers, remember: small funds are not a dead end; as long as you are tough enough and steady enough, they can be the spark for a comeback. #ETH
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Synthetix FAQ

Synthetix (SNX) is a decentralized protocol on the Ethereum blockchain that facilitates the creation of synthetic assets, known as "synths." These synths mimic the value of real-world assets like cryptocurrencies, commodities, and fiat currencies. By leveraging smart contracts, oracles, and the SNX token, Synthetix enables users to access various assets without owning them directly. This opens up a new horizon of financial opportunities within the decentralized finance (DeFi) space.

The SNX token plays a crucial role within the Synthetix ecosystem, serving multiple functions. Primarily, it acts as collateral to back the value of issued synths. Holders can lock their tokens as collateral and mint synths, earning a proportionate share of fees generated by the Synthetix protocol. Additionally, SNX token holders can participate in the protocol's governance, giving them a voice in decision-making processes.

Easily buy SNX tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include SNX/USDT and SNX/USDC. You can also swap your existing cryptocurrencies, including Bitcoin (BTC),Cardano (ADA), Tether (USDT), and USD Coin (USDC), for SNX with zero fees and no price slippage by using OKX Convert.

Currently, one Synthetix is worth $1.031. For answers and insight into Synthetix's price action, you're in the right place. Explore the latest Synthetix charts and trade responsibly with OKX.
Cryptocurrencies, such as Synthetix, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Synthetix have been created as well.
Check out our Synthetix price prediction page to forecast future prices and determine your price targets.

Dive deeper into Synthetix

Amidst the Ethereum network's scalability issues and growing congestion, Synthetix has emerged as an innovative solution to these challenges. With its native token SNX, Synthetix provides a robust platform for synthetic assets in the decentralized finance (DeFi) arena. This platform goes beyond the typical DeFi offerings, presenting a distinctive approach to tokenization and asset management that unlocks numerous opportunities within the cryptocurrency space.

What is Synthetix?

Synthetix is a DeFi protocol operating on the Ethereum network, enabling the creation of synthetic assets. These assets, referred to as Synths, replicate the value of various other assets, including fiat currencies, cryptocurrencies, commodities, and stocks. The primary purpose of Synths is to offer users exposure to these assets without needing to possess them physically. The Synthetix Network Token (SNX) is the protocol's native token and is used as collateral for issuing Synths.

The Synthetix team

The Synthetix team, led by Kain Warwick, is a dedicated group of experienced developers and entrepreneurs. Some notable team members include Dustin Fontaine, the CTO; Justin Moses, the senior software engineer; Clint Ennis, the senior architect; and Sunny Vempati, the front-end architect. Additionally, the team is complemented by Andrew Porter, a non-executive director, Marcelo D., a partner at Cluster Capital, and Brian O'Farrell, the co-founder of Furthr. 

How does Synthetix work?

Synthetix operates by utilizing decentralized oracles, which are smart contract-based price discovery protocols, to monitor the prices of specific assets. By doing so, the value of Synths becomes tied to the underlying assets, enabling users to gain exposure to these assets without holding them directly.

Users can lock up their SNX tokens as collateral to mint new Synths. These newly minted Synths can be traded on the Synthetix Exchange without experiencing slippage. This is achieved through a mechanism that burns the Synths being sold and mints new ones, ensuring the overall supply remains balanced.

SNX tokenomics

SNX tokens play a vital role in the Synthetix ecosystem as they serve as collateral for the creation of synths. When SNX holders stake their tokens within the protocol, they gain access to rewards and the ability to participate in the Synth exchange. Notably, the value of SNX tokens is directly tied to the value of the synths they are used to collateralize, establishing a crucial connection between the token and the underlying assets within the system.

Synthetix use cases

Synthetix offers various use cases that revolve around synthetic assets. Through Synths, users can gain exposure to a wide range of assets without needing to directly own them, as the Synths are tied to the value of the underlying assets.

The platform enables users to trade Synths directly on the Synthetix DEX without the involvement of intermediaries. Additionally, being built on the Ethereum blockchain, users can deposit Synths on select DeFi protocols, providing liquidity and earning interest.

SNX token holders can stake their tokens and earn Synths as rewards, further enhancing their participation within the ecosystem.

SNX distribution

The total supply of SNX tokens is capped at 259,562,746. The distribution is allocated as follows:

  • Sixty percent through the initial coin offering (ICO).
  • Three percent for bounties and marketing incentives.
  • Five percent for partnerships.
  • Twelve percent for the foundation.
  • Twenty percent for the team and advisors. 

The road ahead of Synthetix

Synthetix's future roadmap involves the expansion of its synthetic asset offerings to include traditional assets such as stocks and bonds. This strategic move aims to bridge the gap between the traditional financial realm and the blockchain space, enabling users to access a broader range of investment opportunities.

Furthermore, the Synthetix team is committed to improving the user experience by enhancing the platform's accessibility and usability, catering to both seasoned and new users alike.

Disclaimer

The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice.

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Market cap
$358.51M #86
Circulating supply
343.47M / 343.89M
All-time high
$28.99
24h volume
$93.01M
4.0 / 5
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