Synthetix SNX Price Overview
Current Price: $0.595 (+5.74% in 24h)
Price Range: $0.550 – $0.597
General Information
What Is Synthetix?
Synthetix is a decentralized liquidity protocol on Ethereum and Optimistic Ethereum, enabling the creation of synthetic assets (synths). SNX holders stake tokens to collateralize synths, allowing peerless conversions via smart contracts—solving liquidity issues common in DEXs.
👉 Discover how Synthetix revolutionizes DeFi liquidity
Key SNX Metrics
| Metric | Value |
|----------------------|---------------------|
| Max Supply | 339,889,850 SNX |
| Total Supply | 343,889,850 SNX |
| Circulating Supply | 343.47M SNX (101.1% of max) |
| Market Cap | $204.47M (0.01% dominance) |
| 24h Trading Volume | $4.87M |
Synthetix Price History
- All-Time High (ATH): $28.63 (Feb 14, 2021) — currently -97.9% below ATH.
- Recent Trend: Increased 5.74% in 24h amid broader crypto market growth (+3.09% total cap).
How Synthetix Works
- Staking SNX: Users lock SNX to mint synths (e.g., synthetic USD, commodities, crypto).
- Fee Incentives: Stakers earn fees from platform activity + SNX inflation rewards.
- Products: Perpetual futures, spot synths, and derivatives built atop pooled collateral.
👉 Explore Synthetix staking mechanics
FAQ
Why is SNX supply over 100% of max?
Synthetix’s flexible supply model allows temporary oversupply to meet demand for synths, adjusted via staking incentives.
What drives SNX price volatility?
- Demand for synthetic assets.
- Ethereum gas fees (affects staking costs).
- DeFi market sentiment.
Can SNX reach its ATH again?
While possible, it depends on adoption of Synthetix’s derivatives and broader crypto bull cycles.
Conclusion
Synthetix remains a pivotal DeFi protocol for synthetic assets, with SNX price reflecting its utility and staking dynamics. Monitor liquidity trends and layer-2 adoption (Optimistic Ethereum) for future price signals.
Data sourced from CryptoRank.io. Last updated: 2025.
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