Synthetix Network Token
ATH / ATL
24h Price
24h summary
Over the last 24 hours, Synthetix Network Token moved from $0.217 to $0.216. The session high was $0.223, the low was $0.209, and the intraday range was $0.014 / 6.5%.
- 24h open
- $0.217
- 24h close
- $0.216
- 24h high
- $0.223
- 24h low
- $0.209
- Volatility / range
- $0.014 / 6.5%
- Updated
Monthly Returns heatmap
Heatmap summary
Synthetix Network Token posted 30 positive months out of 73. The longest positive streak lasted 4 months, while the longest negative streak lasted 7 months.
- Strongest month
- Jan 2021 +137.8%
- Weakest month
- Nov 2025 -46%
- Longest positive streak
- 4 Nov 2020 — Feb 2021
- Longest negative streak
- 7 Dec 2024 — Jun 2025
- Luckiest calendar month
- Jan • avg 25.4% • 6 mo.
- Unluckiest calendar month
- Jun • avg -24.2% • 6 mo.
Networks
Supported exchanges
About the coin
The Synthetix Network Token (SNX) is a digital asset that plays a crucial role within the Synthetix ecosystem. Synthetix is a decentralized synthetic asset issuance protocol built on the blockchain.
The primary function of SNX within this protocol is to serve as collateral. Users who wish to mint synthetic assets on Synthetix are required to lock up a certain amount of SNX as collateral. This mechanism underpins the stability and security of the synthetic assets generated on the platform.
Synthetic assets, often referred to as Synths, are designed to track the value of real-world assets. This can include currencies, commodities, stocks, and other financial instruments. By using Synths, users can gain exposure to these assets in a decentralized manner without needing to hold the underlying asset directly.
The SNX token is integral to the minting process. When a user stakes SNX, they can then create Synths. The value of the SNX collateral is typically set at a certain ratio to the value of the Synths minted. This over-collateralization is a key risk management feature.
Holders of SNX can also participate in the governance of the Synthetix protocol. This allows token holders to have a say in the future development and decision-making processes of the platform, fostering a community-driven approach.
Furthermore, SNX token holders can earn rewards. These rewards are often distributed as inflationary issuance of SNX or through transaction fees generated by the protocol. This incentivizes users to hold and stake their SNX tokens.
The Synthetix Network Token is an active cryptocurrency, indicating its ongoing development and use within the network.
SNX is available on multiple blockchain networks, demonstrating its interoperability and accessibility. These include:
- Ethereum: As an ERC-20 token, it operates on the Ethereum blockchain.
- BNB Smart Chain: It also exists as a BEP-20 token on the BNB Smart Chain.
- Optimism: Furthermore, SNX is deployed as an ERC-20 token on the Optimism Layer 2 scaling solution.
The presence on different chains allows users to interact with Synthetix using various blockchain infrastructures, potentially offering different transaction speeds and costs.
The decentralization aspect of Synthetix, powered by SNX, aims to provide a more open and accessible financial system. By allowing the creation of synthetic assets, it broadens the range of financial instruments available to users on the blockchain.
The economic model of SNX is designed to align the incentives of users, stakers, and the overall health of the Synthetix network. The value of SNX is intrinsically linked to the utility and demand for synthetic assets within the ecosystem.
In essence, SNX acts as the foundational collateral and governance token for the Synthetix protocol, enabling the creation and management of a diverse range of synthetic assets on the blockchain.
Trust & methodology
Last updated:
Data source: Price and volume snapshots are sourced from Binance using the SNXUSDT market feed.
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