Synthetix (SNX) is an innovative DeFi protocol that uses SNX as a guarantee for synthesizers, offering moderate potential as an investment.
Table of Contents:
Latest SNX Price
Market Rankings
- Market Capitalization: $1.21 billion
- Volume: 65.92 million dollars
SNX Price Performance
- Last Month: -13.3%
- Last 12 Months: -11.1%
- Since Launch (2018): +346.6%
Synthetix Price Predictions 2024-2030
- 2023: 3.85 USD
- 2024: 5.78 USD
- 2025: 8.62 USD
- 2026: 11.7 USD
- 2027:14.0 USD
- 2028: 18.4 USD
- 2029: 25.7 USD
- 2030: 27.1 USD
Will it ever reach 1, 10, or 100 dollars?
Reaching 1 Dollar: Moderately Likely
Reaching 10 Dollars: Possible
Reaching 100 Dollars: Moderate Prospects
In-depth analysis
Synthetix’s prediction to reach 1000 dollars would require a significant increase, comparable to the evolution of Ethereum in the past. However, various challenges make this prospect currently unlikely.
- COVID crisis: The recent crisis is exceptional in magnitude, with excess cash availability unlikely in the near future.
- Competition: Synthetix operates in a narrower scope than Ethereum, affecting relative performance.
- Underperformance: The price of Synthetix continues to underperform Ethereum.
Investment Assessment
Investment Quality: Moderate
Growth Needed by 100 Dollars: Moderate
Market Cap Expectations: Moderate
Time Needed for 100 Dollars: Moderate
Synthetix: An Investment Option?
Synthetix is a DeFi protocol on Ethereum, allowing derivatives to be traded. Its innovative structure, solid governance, and integration with Optimism Layer 2 make it attractive
.
Using the SNX Token
- Warranty: SNX powers synthesizers, acting as collateral.
- Governance: Owners influence decisions.
- Rewards: Staking SNX offers rewards and engages investors.
Conclusions and Notices: Investments in cryptocurrencies involve risks; carefully evaluate risk appetite and personal research.
Latest Additions and Partnerships:
- Synthetix and Lido Finance launch a Lido Staked Ether trader rewards program.
- Polynomial Finance uses Synthetix on Optimism Layer 2 to improve the DeFi trading experience.
In summary, Synthetix offers opportunities, but investors must weigh the risks carefully before making decisions.
Frequently Asked Questions on Synthetix Exchanges
On which exchanges can I buy Synthetix?
You can buy Synthetix on cryptocurrency platforms such as ABCC, AscendEX, Balancer, BIB, and Bibox. Currently, Synthetix is listed on 78 exchanges. The most popular exchange for SNX at the moment is ABCC
.
What is the best exchange to buy Synthetix?
Currently, the best exchange for Synthetix is Binance, which has recorded a Synthetix trading volume of $18.89 million in the last 24 hours. However, you can also choose from other exchanges that list SNX, such as KuCoin, Kraken, Bybit, OKX,
and gate.io.
Where can I buy Synthetix with fiat currency?
You can buy Synthetix with fiat currency on Kraken, one of the most established platforms in the cryptocurrency industry. Currently, Kraken quotes Synthetix in pairs with the US Dollar and the Euro. You can buy cryptocurrency on Kraken with a Visa or Mastercard card, or you can fund your account via bank transfer or
other methods.
Where can I buy Synthetix with USDT?
You can buy Synthetix with USDT on the Binance cryptocurrency exchange platform. Binance is one of the most popular exchanges in the world and has managed a Synthetix trading volume of $18.89 million in the last 24 hours. Binance also lists a large number of other cryptocurrencies, offering many trading options in addition to Synthetix
.
On which exchange can I buy Synthetix with a credit card?
You can buy Synthetix with a credit card on Binance and other exchanges such as [add name]. Using a credit card is a quick and convenient payment method for buying cryptocurrency, but it usually involves higher fees than other ways of buying cryptocurrency with fiat currency.
What is Synthetix’s trading volume over the last 24 hours?
Synthetix’s trading volume in the last 24 hours is $173.67 million. Synthetix is listed on 78 exchanges with 148
trading pairs.
Which exchange has the highest Synthetix trading volume?
Currently, the most popular exchange for Synthetix is Binance, which has handled $18.89 million worth of SNX trades in the last 24 hours.
What is the most popular trading pair for Synthetix?
The most popular trading pair for Synthetix is SNX/USDT. Over the past 24 hours, SNX/USDT registered a trading volume of $61.09 million across 78 different cryptocurrency platforms
.
