Synthetix (SNX)
| Market Cap | $454,732,178 |
|---|---|
| Trading Volume | $28,345,887 |
| Volume / Market Cap | 0.0623 |
| Total Supply | 311,981,917 SNX |
| Max Supply | 308,069,419 SNX |
Synthetix is currently trading at $1.8209, after a price change of 0.19% in the last 24 hours.
Ranked as cryptocurrency #74 by capitalization today, SNX market cap is valued at $454,732,178. SNX trading volume reached $28,345,887 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on SNX coin price prediction page.
SNX Coin Price PredictionWhat is Synthetix Network Token?
Synthetix is a decentralized network integrated on Ethereum for derivatives markets. The platform uses pooling collateral criteria to enhance the conversions of Synthetic assets without counterparties.
Synthetic powers synthetic fiat, long and short positions. Native token holders are rewarded with a percentage of the fees generated from the activities on the protocol as a staking incentive. A user needs not hold SNX to trade on the exchange. Synthetix would also include Ether in collateralization, where users can borrow Synths using ETH.
SNX is the main token at the Synthetix network. There are 114,841,533.01 SNX tokens in circulation, a total supply of 212,258,834 and a hard cap of 212,424,133. SNX is a collateral, that facilitates the issuance of Synthetic assets. All the Synths are backed by the token and minted when staking. The process is completed via Mintr app.
Synthetix was launched in 2017 by Kain Warwick.