Synthetix Network (SNX)What's Synthetix Network price? How much potential does it have? How to buy Synthetix Network? And where can you buy it? Find answers to all of those as well as to many others questions related to it and discover cryptos in the same category. And see how SNX compares to Bitcoin based on its performance!
(Price data last updated about 38 minutes ago)
Data last updated about 38 minutes agoSNX All Time Low/High: €0.0304649 (+7023%) / €23.54 (-91%)
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Compare SNX and BTC performance
How popular is Synthetix Network cryptocurrency?Synthetix Network ranks 61th among all cryptocurrencies. It has a market cap of €686244810. The total trading volume within the last 24 hours was €68929900.
How much potential does it have?How much can Synthetix Network grow? It's hard to say how much potential this cryptocurrency has exactly, but based on its circulating supply (315,272,304), it can theoretically grow at least 711x before it would become more popular than Bitcoin. This means that based on SNX maximum potential it could reach €1543.4 before it would have to overtake Bitcoin.
How to buy Synthetix Network?The easiest way to buy SNX is to use a cryptocurrency exchange. There are a lot of exchanges out there these days - both centralized and decentralized. And you can find this cryptocurrency in a number of exchanges these days. Currently there should be the very minimum of 62 Synthetix Network exchanges available.
Where can you buy it?SNX should be listed in these exchanges:
Where can I find more information about Synthetix Network?You can find more information about it through the crypto homepage and social media pages brought out on top of this page. And we always recommend you to do further research about the crypto yourself as well.
When was SNX created?According to our information SNX was created 11th March 2018.
What is Synthetix Network?Synthetix is based in Australia, Synthetix launched a seed funding round in September, 2017 to develop the concept of a self-contained stablecoin payment network. They then kicked off their public ICO on February 28, 2018 and by the end of the ICO on March 7, 2018, they had met their goal of $30,000,000 USD. Synthetix was rebranded from Havven on November 30, 2018.
Synthetix is led by a multidisciplinary team of 13 individuals. The project was founded by Kain Warwick, who previously co-founded blueshyft, one of the largest digital payment networks in Australia. The CTO is Justin Moses, who also serves as the Director of Engineering at MongoDB. Synthetix aims to address the problem that companies running centralized payment networks such as PayPal, credit card networks, or the SWIFT banking network have “absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time.” According to the Synthetix white paper, “Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible.”
This is theorized to work because anyone who holds SNX tokens in escrow will be incentivized by Synthetix rewards derived from network transaction fees that will be distributed “in proportion with how well each issuer maintains the correct Synths supply.” When a Synthetix escrow user puts their SNX in escrow, USD-stabilized Synths will be automatically put up for sale on a decentralized exchange at a price of $1 USD. To release escrowed SNX, the user must buy back the Synths issued (also at a price of $1 USD) at which point the Synths will be burned. The Synthetix system uses an algorithm to adjust network fees, and therefore dividends, to SNX holders to incentivize (or disincentivize) the holding of SNX in escrow smart contracts, and thus, the creation of Synths. The theory is that this will cause users to mint and burn Synths in the appropriate amount based solely on supply and demand.
|Market Cap: €686244810||Rank: #61||Volume: €68929900|
Synthetix Network (SNX) live price chart
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How big was Synthetix Network coin volume within the last 24h?
Synthetix Network (SNX) last recorded volume was € 68929900.
How much has Synthetix Network price changed during one year?
SNX price has changed during the last year -53.39 %.
Is SNX coin close to its All Time High price?
SNX all time high price (ath) is €23.54. Its current price is €2.17. This means that the difference between Synthetix Network (SNX) All Time High price and SNX current price is -91%.
What is the maximum price Synthetix Network (SNX) could VERY theoretically reach?
SNX has a current circulating supply of 315,272,304. Based on our calculation SNX could reach up to €1543.4 before it would have to overtake Bitcoin. So in theory the potential for growth is 711x its current value (€2.17). However, keep in mind that the coin's actual potential is based on the value it provides to the user. So this is just a logical maximum potential price calculation for Synthetix Network and in no way is it a prediction of any kind, far from it.
Where can you buy Synthetix Network?
Synthetix Network is currently listed on at least these crypto exchanges: DigiFinex, Bitget, Binance, WOO Network, P2B, Deepcoin, Coinbase Exchange, Pionex, Coinsbit, Crypto.com Exchange, BKEX, MEXC Global, BingX, Azbit, LBank, Binance US, Tidex, BitMart, OKX, Phemex, CoinTR Pro, Kraken, Bilaxy, Dcoin, Velodrome Finance, Bitstamp, KuCoin, Bitkub, Bitazza and possibly some others.