SNX Price PredictionSNX Price Prediction 2024-2033
- Synthetix Price Prediction 2024 – up to $4.22
- Synthetix Price Prediction 2027 – up to $13.8
- Synthetix Price Prediction 2030 – up to $39.34
- Synthetix Price Prediction 2033- up to $128.40
Synthetix is developing a decentralized liquidity provisioning protocol that is accessible to various platforms. It boasts substantial liquidity and minimal fees, making it an attractive backend for numerous protocols on both Optimism and Ethereum. Within the Synthetix ecosystem, platforms like Kwenta (offering Spot and Futures), Lyra (for Options trading), Polynomial (Automated Options), and 1inch & Curve (for Atomic Swaps) leverage Synthetix liquidity to enhance their services.
SNX’s value worth is subject to market dynamics and can fluctuate based on demand, supply, and broader cryptocurrency market trends.
How much is SNX worth?
Today’s live Synthetix price is $3.005, with a 24-hour trading volume of $33,192,875, an decrease of 15.45% over the last 24 hours. Synthetix is up 7.77% in the last 24 hours. The current CoinMarketCap ranking is #83. The coin currently has a live market cap of $984,217,073 USD. It has a circulating supply of 327,769,196 SNX coins and the max. supply is not available.
Synthetix price analysis: Riding the Bullish Wave
TL;DR Breakdown
- Synthetix price analysis shows an uptrend today
- Support for SNX/USD is present at $2.406
- Resistance for SNX is present at $4.685
As of April 20, 2024, the 24-hour and 4-hour charts show a bullish momentum for Synthetix SNX. In recent days, the market has been predominantly bullish, punctuated by occasional minor bearish corrections. This upward surge has propelled the coin’s value to $3.005.
SNX price analysis 1-day chart: Bullish momentum builds
The SNX token’s 1-day price chart reflects a bullish trend, signaling optimism in the market. Currently valued at $3.005, SNX stands poised for potential gains should the positive market sentiment continue.
SNX is currently showing a Relative Strength Index (RSI) value of 36.94, indicating a neutral stance. This suggests that the coin is not overbought or oversold, but rather in a balanced territory.
The Bollinger Bands suggest significant support at $2.406, acting as a strong price floor where buying pressure historically emerges. Conversely, resistance is observed at $4.685, representing a formidable barrier to further upward movement.
SNX 4-hour price chart overview: SNX bulls dominate once again
In the past 4 hours, the analysis of SNX has strongly favored crypto buyers, with bullish momentum taking precedence once again. This surge has propelled the SNX price to $3.006, nearing its resistance level as the bulls assert control over the market.
The Bollinger Bands highlight a key support level at $2.698, historically attracting buying interest and serving as a potential floor for price movements. Conversely, resistance is observed at $3.038, presenting a significant hurdle to further upward momentum.
Synthetix Recent News
Synthetix Deployments Burn $565k sUSD and 6.4k SNX in Fees Across Multiple Chains
This week marked a significant milestone for Synthetix deployments, as platforms including Optimism, base, and Ethereum L1 collectively burned $565k worth of sUSD and 6.4k SNX in fees. The breakdown reveals a substantial contribution from Optimism, accounting for 446,209 sUSD, followed by Ethereum L1 with 119,049 sUSD.
Additionally, base witnessed 6,384 SNX being burned. These burned fees, a testament to the network’s activity, are distributed among liquidity providers (LPs) and SNX holders across all chains, reinforcing the ecosystem’s decentralized ethos. This development underscores Synthetix’s commitment to enhancing efficiency and rewarding participants while further solidifying its position as a prominent player in the decentralized finance (DeFi) landscape.
Is Synthetix (SNX) a Good Investment?
Synthetix (SNX) emerges as a compelling investment opportunity due to its innovative protocol and potential for growth. As a decentralized synthetic asset platform, Synthetix enables the creation and trading of synthetic assets representing various real-world assets, including fiat currencies, commodities, and cryptocurrencies. Its unique approach to tokenizing assets offers users exposure to a wide array of assets without the need for intermediaries or liquidity providers.
Synthetix leverages a decentralized governance model to ensure community participation and protocol upgrades. Synthetix continues to expand its ecosystem and user base. Our Cryptopolitan Price Prediction section can offer valuable perspectives on SNX’s future value trajectory.
Synthetix Recent News
Synthetix Deployments Burn $565k sUSD and 6.4k SNX in Fees Across Multiple Chains
This week marked a significant milestone for Synthetix deployments, as platforms including Optimism, base, and Ethereum L1 collectively burned $565k worth of sUSD and 6.4k SNX in fees. The breakdown reveals a substantial contribution from Optimism, accounting for 446,209 sUSD, followed by Ethereum L1 with 119,049 sUSD.
Additionally, base witnessed 6,384 SNX being burned. These burned fees, a testament to the network’s activity, are distributed among liquidity providers (LPs) and SNX holders across all chains, reinforcing the ecosystem’s decentralized ethos. This development underscores Synthetix’s commitment to enhancing efficiency and rewarding participants while further solidifying its position as a prominent player in the decentralized finance (DeFi) landscape.
SNX Price Prediction 2024 – 2033
SNX Price Prediction by Cryptopolitan
| Year | Minimum Price | Average Price | Maximum Price |
| 2024 | $3.63 | $3.77 | $4.22 |
| 2025 | $5.38 | $5.53 | $6.51 |
| 2026 | $7.89 | $8.11 | $9.37 |
| 2027 | $11.12 | $11.44 | $13.8 |
| 2028 | $15.57 | $16.15 | $18.94 |
| 2029 | $22.36 | $23.01 | $27.05 |
| 2030 | $34.17 | $35.09 | $39.34 |
| 2031 | $49.58 | $50.98 | $58.87 |
| 2032 | $72.03 | $74.07 | $86.19 |
| 2033 | $110.37 | $114.08 | $128.40 |
SNX Price Prediction 2024
Our SNX price prediction for 2024 is a maximum price of $4.22. The coin’s minimum price will be $3.63, and the average price will be $3.77.
SNX Price Prediction 2025
According to our SNX price prediction for 2025, the maximum price is $6.51. The coin’s lowest price will be $5.38, and the average trading price of the coin is $5.53.
SNX Price Prediction 2026
According to our SNX, the price prediction for 2026 is a maximum of $9.37. The minimum price the coin will have by the end of 2026 will be $7.89, while its average trading price will be $8.11.
SNX Price Prediction 2027
Our SNX price prediction for 2027 is a maximum price of $13.8 with a minimum price of $11.12. We also expect the coin’s average trading price to be $11.44.
SNX Price Prediction 2028
According to our SNX price prediction for 2028, we expect a maximum price of $18.94. The minimum price of the coin by 2028 will be $15.57; the average trading price is forecasted to be $16.15.
SNX Price Prediction 2029
According to our SNX price prediction for 2029, there is a maximum price expectation of $27.05 with an average trading price of $23.01. The coin will have the lowest price at $22.36.
SNX Price Prediction 2030
Our SNX price prediction for 2030 is a maximum price of $39.34 with the coin’s lowest price at $34.17. The average trading price of the coin will be $35.09.
SNX Price Prediction 2031
According to our SNX price prediction for 2031 is a maximum trading price of $58.87, with an average trading price of $50.98. The minimum price of the coin will be $49.58.
SNX Price Prediction 2032
Our SNX price prediction 2032 is a maximum trading price of $86.19, with an average trading price of $74.07. The minimum price of the coin will be $72.03.
SNX Price Prediction 2033
According to our SNX price prediction for 2033, it could be a maximum price of $128.40. The minimum price is $110.37, and the average trading price of the coin will be $114.08.
SNX Price Prediction by Wallet Investor
Based on Wallet Investor’s analysis of SNX’s price, it appears primed for substantial growth in the near term. They predict its value to potentially reach $3.249 within the span of a year, indicating a promising upward trajectory in the short run.
Looking beyond the immediate future, their five-year forecast paints an even more optimistic picture, suggesting a price target of $4.277. These projections not only convey a positive outlook for SNX but also underscore its potential attractiveness to investors and enthusiasts keen on closely tracking its progress.
SNX Price Prediction by CoinCodex
CoinCodex’s price forecast for SNX is brimming with promise. Their prediction indicates that by the conclusion of 2025, the cryptocurrency could soar to a peak trading price of $10.82.
Delving deeper into the future, specifically to 2029, the outlook becomes even more upbeat. According to CoinCodex’s prediction chart, the price of SNX is anticipated to rise to $24.48. These projections offer a positive outlook for investors and SNX enthusiasts, hinting at substantial potential gains in the coming years.
SNX Price Prediction by DigitalCoinPrice
According to Digitalcoinprice’s SNX price forecast, SNX is expected in 2025, to trade an average price of $6.90, with a potential high of $7.17 and a low of $6.02.
By 2027, SNX may see an average price of $12.45, with a maximum price of $12.79 and a minimum of $10.78.
Looking further ahead to 2030, SNX is forecasted to have an average trading price of $20.02, with a potential high of $20.99 and a low of $18.90.
SNX Price Prediction by Market Expert
CoinBlast, a noted market expert, has made a compelling prediction regarding the trajectory of SNX, suggesting that it will surge to $65 by the year’s end. This forecast is underpinned by an expectation of bullish momentum within the market, signaling a positive sentiment towards SNX’s prospects.
Moreover, there is a notable assertion that the price may surpass the $65 mark, indicating a heightened level of optimism regarding its performance. This prediction encapsulates the anticipation and potential for significant growth in the value of SNX, reflecting the dynamic nature of the cryptocurrency market and the evolving investor sentiment surrounding it.
SNX Overview
| Popularity | #83 | Market Cap | $984,217,073 |
| Price Change (24 hours) | +7.77% | Trading Volume (24 hours) | $33,192,875 |
| Price change (7 days) | -7.09% | Circulating Supply | 327,769,196 SNX |
| All-time low (Jan 05, 2019) | $0.03258 | All-time high (Feb 14, 2021) | $28.77 |
| From ATL | +9117.29% | From ATH | -89.56% |
SNX Price History
The Synthetix token was first listed on a crypto exchange for trading in March 2018. Until June 2020, the SNX was trading below $1.5, as seen in the chart below.
However, in July 2020, the Synthetix coin unleashed a monster bullish rally that continued until February 2021. And during the bullish momentum, the SNX hit an all-time high of $28.77.
After hitting an all-time high of $28.77 on Feb 14, 2021, the SNX price took a downward turn dropping to as low as $1.5 in 2023. It later began correcting and is trading at the $2.8 mark in 2024.
Source: coinmarketcap
More on the SNX
SNX is the native cryptocurrency of the Synthetix network. The SNX token is an ERC20 token, and therefore it is compatible with ETH wallets. Besides facilitating activities (specifically to offer collateral) within the Synthetix network, SNX holders can become SNX stakers by staking their SNX coins to earn staking rewards.
Who is the Synthetix founder?
Synthetix network was launched in September 2017 under Havven (HAV). Its founder is Kain Warwick. Havven (HAV) rebranded to the current Synthetix name a year later, a name it has maintained to date. Warwick is also the founder of Pouncer, a live auction Australian site, and a non-executive director at Blueshyft retail network.
What is the Synthetix network?
Synthetix Network is a decentralized finance (DeFi) protocol that allows users to trade synthetic assets (synths). The protocol is built on the Ethereum blockchain, and it provides liquidity for synth tokens so that traders can seamlessly trade them.
The platform enables users to issue and trade synthetic assets — digital assets that represent other real assets like stocks, fiat currencies, commodities, or cryptocurrencies. It also has a staking mechanism that incentivizes users to provide liquidity and maintain the platform.
The Synthetix Protocol was originally conceived as Havven back in 2017 by Kain Warwick. Warwick is currently also a Non-Executive Director of blueshyft- a network of over 1200 retail locations around Australia.
SNX is a derivative product
In a nutshell, synthetic assets are derivative products issued and traded on DeFi protocols. They are similar to traditional derivative products that derive their value from underlying assets like cryptocurrencies, fiat currency, commodities, precious metals, bonds, and stocks.
The underlying assets are cataloged onto a DeFi protocol like the Synthetix network through tokenization by using smart contracts. Then the tokens, which represent a certificate of ownership of the real-world assets, are issued to investors and traders who can then go ahead and trade the derived assets without holding the real-world assets.
Synthetix’s unique features
Synthetix network was among the first blockchain protocols to introduce synthetic crypto assets.
The synthetic cryptocurrency assets minted via the Synthetix protocol are synths and have an ‘s’ at the beginning of their names. If the underlying asset is the USD, for example, the synthetic help on Synthetix would appear as sUSD, BTC would appear as sBTC, ETH would appear as sETH, and so on.
The community voted the synths for to exist on the Synthetix protocol.
The prices of the underlying assets of the synths are tracked using smart contract price delivery protocols known as oracles. This system ensures no slippage or liquidity issues when trading the synths.
To mint a synth on the Synthetix network, a user will have to lock up some SNX tokens in a smart contract.
How to Stake SNX
If you truly want to make money staking SNX, there are a few easy steps involved.
- First, you need to buy Synthetix and connect to a web3 wallet.
- Visit Mintr, the portal interface for minting and managing Synths.
- Connect your web3 wallet to Mintr.
- Click ‘Mint’ and choose what type of Synth you want to mint.
- Remember to maintain the collateralization ratio.
- Input the number of Synths you want to mint.
- Click ‘Mint Now’.
- Confirm the transaction in your web3 wallet.
Afterward, your SNX token will automatically be staked. You will now be able to enjoy rewards generated from trading fees. Furthermore, you are also subject to inflation rewards.
Conclusion
Synthetix (SNX) has shown resilience and strength in its recent market movements, with its value reaching $3.005 as of today. This surge in price reflects a bullish momentum that has been building, nearly surpassing its resistance level. Additionally, recent data indicates a notable increase in trading volume, highlighting growing investor interest in the project.
Moreover, Synthetix deployments have witnessed significant fee burns across multiple chains, amounting to $565k worth of sUSD and 6.4k SNX. This reflects robust activity within the ecosystem and underscores Synthetix’s commitment to enhancing efficiency and rewarding participants. As the project continues to innovate and expand, it solidifies its position as a key player in the decentralized finance (DeFi) landscape.
A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
