Synthetix (SNX) Price

SNX is the native token of Synthetix, a decentralized finance protocol built on Ethereum that enables the creation and trading of synthetic assets. Currently ranked #284 with a price of $0.3567, SNX serves as collateral for these synthetic assets which track the value of real-world assets like commodities, stocks, and other cryptocurrencies. The token has seen -2.56% price movement in the last 24 hours, with trading volume reaching $13.98K. SNX has a market cap of $122.88M with a circulating supply of 344.51M SNX out of a maximum supply of 344.93M SNX. SNX token holders can stake their tokens to mint synthetic assets, earn trading fees, and participate in governance decisions. The protocol has become a cornerstone of the DeFi ecosystem, particularly in the derivatives market, allowing users to gain exposure to various assets without leaving the blockchain environment.

Synthetix was created on March 14, 2018, when it was first listed on cryptocurrency exchanges. The project officially launched on the Ethereum blockchain platform, starting as a decentralized synthetic asset issuance protocol. Since its inception, Synthetix has evolved into a comprehensive DeFi protocol that allows users to create and trade synthetic assets representing various real-world assets, cryptocurrencies, and financial instruments.

Synthetix was founded by Kain Warwick in 2017. Originally launched as Havven, the project was rebranded to Synthetix in 2018. Kain Warwick is an Australian entrepreneur who previously founded Blueshyft, a retail payment network. The project has since evolved into a decentralized synthetic asset platform on Ethereum, allowing users to create and trade synthetic versions of cryptocurrencies, fiat currencies, and commodities. The Synthetix protocol is now governed by a DAO (Decentralized Autonomous Organization), with the SNX token serving as both governance token and collateral for minting synthetic assets.

Synthetix works as a decentralized protocol that enables the creation of synthetic assets (Synths) on the blockchain. When users stake their SNX tokens as collateral, they can mint various Synths that track the value of real-world assets like cryptocurrencies, fiat currencies, commodities, and stocks. The SNX token serves three key functions: 1. Collateral: Users must stake SNX at a ratio of at least 400% to mint Synths, ensuring the system remains overcollateralized. 2. Rewards: Stakers earn fees generated from Synth trades (0.3% of all trades) proportional to their stake. 3. Governance: SNX holders can vote on protocol upgrades and parameter changes through the DAO structure. The protocol operates primarily on Ethereum and Optimism, with SNX having a maximum supply of 344.93M SNX. Currently ranked #284 with a price of $0.3567, Synthetix has established itself as a leading DeFi protocol for synthetic asset trading.

Synthetix operates on a multi-layered technical architecture built primarily on Ethereum. At its core, it uses a Proof of Stake consensus mechanism where SNX tokens serve as collateral for minting synthetic assets (Synths). The architecture includes: 1. Smart Contracts: A collection of Solidity contracts that manage collateralization, staking, and trading functions. 2. Staking Mechanism: Users stake SNX tokens to maintain the system's collateralization ratio, currently at 400%. 3. Debt Pool: A shared pool where all stakers collectively back the network's synthetic assets. 4. Price Oracles: Chainlink oracles provide real-time price feeds for accurate asset valuation. 5. L2 Solutions: Synthetix has expanded to multiple networks including Optimism for lower gas fees and higher throughput. 6. Governance: A DAO structure where SNX holders vote on protocol changes and upgrades. 7. Synthetix V3: The latest architectural upgrade introducing isolated debt pools and improved capital efficiency.

Synthetix is focused on expanding its DeFi ecosystem with several key developments on its roadmap. In 2026, the project is enhancing its synthetic assets platform and improving cross-chain functionality across Ethereum, Optimism, and Base ecosystems. By 2027, SNX plans to launch advanced derivatives trading features and expand its real-world asset tokenization capabilities. The protocol aims to increase its TVL significantly through new partnerships and improved yield farming mechanisms. For 2028-2031, Synthetix has outlined plans to develop more sophisticated governance mechanisms, further decentralize its protocol, and integrate with emerging Layer 2 solutions to reduce transaction costs. Currently ranked 284 with a market cap of $122.88M, SNX is positioning itself as a leading platform in the derivatives and synthetic assets space. The team continues to focus on scalability improvements and institutional adoption to drive long-term value for the ecosystem.

SNX is currently rising due to positive market reaction to Synthetix's decision to cancel the Derive agreement. The price increased 9.4% on May 22, 2026, reflecting renewed investor confidence in the platform's strategic direction.

Synthetix is currently dropping due to market-wide correction, with -2.56% in the last 24 hours. This decline is part of a broader DeFi sector pullback, influenced by profit-taking after recent gains and decreased trading volume at $13.98K. The price has fallen from $0.3748 to $0.3567 as investors reposition their portfolios.

Synthetix could reach around $2.01 by the end of 2026, potentially climbing to $13.30 by 2031. Long-term forecasts suggest SNX might reach as high as $967.82 by 2040, representing significant growth from its current $0.3567 value.

Synthetix is likely to go up in 2026 as market indicators show positive momentum. Currently priced at $0.3567, analysts predict a potential rise to $0.87 by late 2026, supported by DeFi sector growth and platform developments.

The current price of Synthetix (SNX) is $0.3567. As the #284 cryptocurrency by market cap, SNX has seen a -2.56% change in the last 24 hours with a trading volume of $13.98K.

The highest price Synthetix has ever reached was $28.5300 on May 18, 2021. This represents the all-time high (ATH) for SNX since its launch.

The lowest price Synthetix has ever been is $0.036, recorded in January 2019. This represents SNX's all-time low since its launch.

Currently, 1 SNX is worth $0.3567.

Synthetix is valuable as it serves as collateral for synthetic assets on the Synthetix platform, securing the network and providing liquidity. It enables users to access traditional financial markets and implement innovative trading strategies through its synthetic assets ecosystem.

Currently, there are 344.51M SNX SNX tokens in circulation, with a total supply of 344.93M SNX and a maximum supply capped at 344.93M SNX. This represents the complete allocation for the Synthetix ecosystem.

No, SNX mining is not profitable as it's a DeFi token that can't be mined. Instead, users can stake SNX to earn rewards on the Synthetix platform, currently priced at $0.3567 with a market cap of $122.88M.

Synthetix was launched on March 15, 2018. It operates on the Ethereum blockchain platform and was initially created to provide on-chain synthetic assets.

Currently, one SNX costs $0.3567.

You can buy Synthetix through centralized or decentralized exchanges(Gate.com). Simply create an account, complete identity verification, deposit funds, and place an order to buy SNX at $0.3567. Crypto ATMs also offer direct purchases.

To purchase SNX, create an account on a reputable cryptocurrency exchange(Gate.com), complete identity verification, deposit funds using bank transfer or card, navigate to SNX trading pair, enter purchase amount, and confirm your transaction. Store your SNX in a secure wallet for safekeeping.

Yes, Synthetix is a legitimate cryptocurrency ranked #284 with a market cap of $122.88M. It operates on the Ethereum platform and is widely used in DeFi applications. SNX has been trading since 2018 and is listed on numerous reputable exchanges with daily trading volume of $13.98K.

SNX is the native token of Synthetix, a decentralized finance protocol on Ethereum that enables trading of synthetic assets. It serves as collateral for these assets, allowing users to access derivatives of real-world commodities and other financial instruments.

SNX is the native token of Synthetix, a DeFi protocol that enables the creation of synthetic assets. It serves as collateral for minting these assets, allows holders to earn staking rewards, and grants governance rights within the protocol's DAO.

Synthetix is currently ranked #284 in the cryptocurrency market based on its market capitalization. This ranking reflects its position among all cryptocurrencies tracked globally.

Synthetix is a DeFi protocol that enables the creation and trading of synthetic assets on Ethereum. Users can gain exposure to real-world assets through these synthetic tokens, with SNX serving as collateral in the system.