Market Overview
Current Price: $0.5759 📉 (-4.78%)
24H Trading Volume:
$9,381,881.918 (-25.98%)
Market Capitalization:
$197,834,195.987 (Rank #204)
Fully Diluted Valuation:
$198,071,268.63
Circulating Supply:
343,466,216.998 SNX
Total Supply:
343,889,850.097 SNX
Historical Price Extremes:
- All-Time High: $28.53 (February 14, 2021)
- All-Time Low: $0.03478 (January 6, 2019)
Funding Raised: $62 Million
Launch Date: March 2018
Introduction to Synthetix
Synthetix is a decentralized synthetic asset protocol that enables on-chain exposure to real-world assets like currencies, commodities, stocks, and indices. These synthetic assets (Synths) are backed by SNX tokens locked as collateral in smart contracts. The protocol also issues sUSD, a native stablecoin.
Key Features:
- P2C (Peer-to-Contract) Trading: Users trade Synths directly with smart contracts, bypassing liquidity limitations.
- Price Tracking: Synths mirror the value of underlying assets via decentralized oracles.
- Permissionless Access: Ideal for unbanked and crypto-native users.
👉 Discover how Synthetix compares to other DeFi platforms
Core Statistics
| Timeframe | Performance |
|---|---|
| 1H | 0.00% |
| 24H | +4.77% |
| 7D | +2.10% |
| 30D | +17.64% |
| 60D | +8.88% |
| 90D | +29.65% |
Project Background
Formerly Known As: Havven
Founded: 2017
Headquarters: Australia
Key Events
- March 20, 2023: $20M OTC Funding Round
- February 14, 2021: $12M OTC Funding Round
FAQs
1. What are Synths?
Synths are synthetic tokens representing real-world assets (e.g., fiat, commodities). They’re minted using SNX collateral and traded on Synthetix’s decentralized exchange.
2. How does Synthetix ensure price accuracy?
The protocol relies on Chainlink oracles for real-time price feeds, ensuring Synths track their underlying assets accurately.
3. What’s the role of SNX stakers?
Stakers lock SNX as collateral to mint Synths and earn fees from trading activity, incentivizing network participation.
👉 Learn more about staking SNX
Synthetix Ecosystem
Related Projects:
- Kwenta: Derivatives trading platform.
- Lyra: Options trading protocol.
Featured In:
- Coinbase 50 Index (50 top crypto assets).
Note: This article is for informational purposes only and does not constitute financial advice.
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