Almost all of the traders worldwide have one thing in mind: to have leverage over their assets and manage it properly. Well, what if you have the chance to create a synthetic asset to change the value of an underlying asset? Wouldn't that be great? More than that, you can monitor the value of those assets, and it would be possible to access those assets without having them. Well, Synthetix enables you to do that.
The synthetic assets can also track the price of any other assets. If it has a real-world value, then the Synthetix platform will enable creating a synthetic asset to monitor that asset's price. Synthetix is primarily a decentralized exchange, a platform for issuing the issue and trade of synthetic assets, and one of the leading decentralized finance. It is built on the Ethereum network and includes the typical blend of cryptocurrencies and fiat currencies and even commodities.
The search for something worth investing in the future is a long journey and needs a lot of time and thinking but no need to call for an astrologer. We'll walk you through the Synthetix price prediction forecast to give you a heads up of how this promising platform can help you or how the future will uphold it. Sit comfortably, and relax as we progress into the possibilities that may help you decide.
Synthetix (SNX) Historical Price Analysis
Synthetix was launched in March 2018 with a starting price of $0.49, later on, the token started to have changed, and the price was between $0.27 and $0.68 until the end of July. Furthermore, there has been a decline by September, and the price reached $0.07 and ended the year with a cost of $0.04. One year later, SNX entered with a price of $0.03. The altcoin traded between $0.04 and $0.08 until the mid-May of 2019.
Drastically, Synthetix boosted to $0.35 by the end of June and started the price to blossom but with certain inequalities. Hence, at the end of November, SNX hit at $1.46 but later on at the end of the year, it traded at $1.22. Synthetix has continually traded at the price of $1.20 at the beginning of January.
However, the crypto market crashed along with the major currencies that suffered a huge decline in their values, and the price dropped to $0.4. On the other hand, the toke recovered and surprisingly had a great leap and hit $7.10 as it gained attention on the market. SNX continued to face challenges and had some depreciation but reclaimed the $7 mark and ended the year at $7.42.
Current Price, Market Cap, & Supply Details
At present, Synthetix's price is $21.29 with a 24-hour trading volume of $98,858 748. In the last 24 hours, Synthetix is up 0.79%. It ranks #37 in CoinMarketCap with $2,444,776,164. In addition, it has a circulating supply of 114, 841, 533 SNX coins and a max supply of 212,424,133 SNX coins. The top exchanges for trading Synthetix are OKEx, Binance, Houbi Global, HBTC, and Bitz.
Synthetix (SNX) Future Price Forecast Predictions
If you are looking for a virtual currency with good returns throughout this time, Synthetix can be a profitable investment choice for the coming months and years! Synthetix (SNX) and its potential market environment reveal that it has been on a roll in the past year. It implies that there is a positive trend in the future, and the SNX might be right for investing money.
Synthetix Short-Term Forecast Table
Synthetix Long-Term Forecast Table
*This price prediction is based on the collected data from different sources strictly meant for educational purposes only and not to be taken as investment advice. Users should do their research before investing.
Synthetix Price Prediction 2021
This year will be a vital year for Synthetix (SNX), as it has now entered an unfamiliar terrain where it has never encountered before. Future SNX prices are complicated to make because the current price per token is higher than it has already been before, but that doesn't mean that it is at a disadvantage. Now more than ever, SNX has shown its potential and that it can still reach new heights.
The SNX traded at $8.43 at the start of January. Later on, the price started to rise. As mentioned beforehand, Synthetix might soar higher and enter greater heights if it goes across some developments and partnerships. Also, if marketers focus on investing, it might influence the continuous rise of SNX. Assuming that the rise will continue for the future, at the latter part of 2021, SNX might get its value up to the $90 mark.
Synthetix Price Prediction 2023
Certainly, there would be ups and downs regarding the price, as the market is always bound for a change. Synthetix is eyed to be on the top 10 currencies in the whole world if the price will continue to rise up. Still, as mentioned, nothing is ever assured, especially in the crypto arena, where uncertainty is always certain.
Furthermore, the currency is foreseen to rise if the community concentrates on expanding its user base and enhancements of its platform. Also, certain collaborations with other startups and projects might result in achieving the desired prices and as well as the investors. The token might sink if it fails to satisfy the users, and the investors and fail to deliver what is expected.
Synthetix Price Prediction 2025
By 2025, Synthetix might be recognized all over the world as the utmost cryptocurrency. Inbound developments and partnerships will certainly lead to the growth of the currency. The token is anticipated to rise whenever a social media influencer gives a positive outlook on the token. By the end of 5 years, Synthetix is anticipated to be traded at a $360 mark.
According to the algorithm analysis and predictive modeling, even though prices are always subjected to change, the current long-term trend drives the SNX price to continue going upward. However, you'll need to keep being updated on social media, upcoming events, newsletters, and investors' sentiment as SNX token changes over time to determine when to buy or sell at the right time.
Is Synthetix (SNX) A Good Investment?
The crypto arena has experienced plenty of ups and downs; there was a crazy number of altcoins here and there, some of them which had gained a 10,000% increase in just a few months. However, the crypto world is not all sunshine and rainbow, as many who have risen have also suffered the downfall and crashed pretty hard. That being said, many analysts have forecasted that De-Fi might become the next big blast and can potentially initiate another great stride.
In relation, Synthetix is considered by many to be the project that started it all, the De-Fi-fueled bull run, and now the community is looking forward to the platform that created a jump-start on the decentralized finance industry, which caused many investors to have interests in purchasing SNX. Further, SNX is far more than just some simple utility token that users can use to utilize SNX to create new Synths, it also enables users to stake SNX to profit from exchange fees over time.
Moreover, it does not take technical skills to issue synths or stake tokens, and with the aid of Mintr dApp, users can interact directly to the protocol's smart contracts. This helps for the circulating supply of SNX into one specific way, and whenever a person wants to un-stake SNX, in order to unlock the staked SNX tokens, he must burn the minted Synth tokens. Thus, the SNX token has an unlimited potential all throughout the platform. The more people who utilize synthetic contracts, the more the project's capabilities and token price will be boosted.
How to Buy Synthetix (SNX)?
Step 1: Open an Online Account
This is the very first step in purchasing Synthetix, which is to create an account with a cryptocurrency trading platform that supports the purchase and sale of SNX.
Step 2: Buy a Wallet
After creating an account, it is in your best interest to buy a wallet to help you get your crypto secured and get configured with keys to keep it safe.
Step 3: Make Your Purchase
The 3rd step would be for you to place your orders by using your broker’s platform to request a buy order for SNX. Depending on your platform, there might be a minimum and maximum, and keep in mind to check the market price before purchasing.
After following the steps, if you see SNX in your account wallet, you have successfully purchased your SNX. Now you can choose and decide what to do with your token, and depending on your strategy you can play your cards right for you to earn and have profit.
More information about Synthetix (SNX)
Synthetix was founded in 2017, led by the team leader and founder Kain Warwick who previously experienced building the largest cryptocurrency payment platform in Australia. Founded as Havven originally, Synthetix raised an estimate of $30M in early 2018 by selling their native token SNX and an Initial Coin Offering (ICO) from major crypto funds.
The platform of Synthetix is a decentralized synthetic asset issuance protocol that allows users to mint, trade, and hold a wide range of derivatives such as commodities, fiat currencies, stocks, and also cryptocurrencies. Users can gain both short and long exposure to all assets on the platform, and regarded as one of the most interesting De-Fi projects in the crypto space currently. Synthetix also offers binary options to purchase a position on a yes or no outcome over a predefined period of time.
Moreover, the ecosystem of Synthetix Is a vast number of liquidity incentives that reward traders for providing the capital for different components of the ecosystem of SNX. The synthetic assets known as Synths are collateralized by Synthetix network token (SNX) to drive liquidity and value to the underlying assets. SNX plays a vital role in the Defi ecosystem because it provides increased accessibility to the traditional financial assets and a wider range of sophisticated trading strategies.
Synthetix (SNX) Team
When investing in crypto, it is also an important thing to find out, and that thing is called analyzing the core team of a project. The Synthetix network team is led by Kain Warwick, who is also the founder of the entire project. Also, he is also a co-founder and CEO of blueshyft in Australia with an extensible and modern technology platform. The Synthetix network is backed by a team comprised of people with great backgrounds and stacked resumes and connected through blueshyft, a successful startup in Australia. Some other notable team members include CTO Justin Moses and Jordan Momtazi, who led Synthetix’s business development initiatives.
To wrap things up, we can say that Synthetix is a platform that is unique for trading and staking cryptocurrencies. Also, a platform that is one of the most interesting in Defi. Thus, Synthetix has great potential and one of the leaders in the Defi protocol and is very successful in enabling users worldwide to trade and create synthetic assets.
Those under Defi protocols such as Synthetix have already experienced tremendous growth in the recent time being. Undoubtedly, the market that shares synthetic products on the blockchain is significant. Besides, given the massive size of the traditional financial markets, Synthetix can create a great deal of tokenized market on the blockchain.
As to how things will unfold, and whether or not the success that Synthetix is experiencing is sustainable can only be seen in the future. Predictions are only educational guesses based on research and not certain, but it helps guide how the dice should roll. At the end of the day, the final call and decision belong to you. However, it is not a bad idea to place a bet on crypto that shows lots of potentials and continually rises to the top.