What is Synthetix Network?

Synthetix Network (SNX) is a DeFi protocol governance token currently ranked 269th by market capitalization across all crypto assets we track. DeFi governance tokens grant voting rights over protocol parameters and, in some cases, a share of protocol revenue.

Market position

At the current price of $0.3121, Synthetix Network carries a market capitalization of $105.95M. Daily trading volume across exchanges sits at roughly $3.72M. That works out to a 24-hour turnover of about 3.51% of the float — consistent with healthy market activity for a mid-to-large cap asset.

Price action across timeframes

Over the past 24 hours, Synthetix Network has moved -1.74%; over the past week, Synthetix Network has moved -7.22%; over the past 30 days, Synthetix Network has moved ++6.47%; over the past year, Synthetix Network has moved -61.92%. The trend reads as broadly negative across timeframes — short-, mid-, and long-term momentum align downward.

Cycle position

Synthetix Network is currently trading far below its all-time high (all-time high of $28.86, -98.9% from peak). Late-stage capitulation territory — the riskiest end of the cycle but historically the highest-reward. From its all-time low of $0.2463, current pricing represents a +27% recovery.

Supply & dilution

The circulating supply stands at 339,889,850 SNX. With 100.0% of the maximum supply already issued, future dilution is near-zero — almost all token issuance is behind us.

Volatility profile

Recent price action puts Synthetix Network in the Moderate-volatility bucket. The asset shows the kind of price movement common in mid-cap crypto assets — meaningful but not unusual. Over the past 30 days, the 30-day move totals +6.47%, which traders should weigh against position sizing and stop-loss placement.

How to evaluate Synthetix Network

A balanced read on SNX typically considers three lenses:

  • Network & on-chain activity — does usage justify the valuation? Live activity (above) should ideally trend up over time.
  • Cycle position — current price relative to ATH (above) sets the risk/reward asymmetry. Closer to ATL is mathematically lower downside; closer to ATH is higher downside.
  • Comparable assets — how is SNX performing against the broader crypto market (BTC, total market cap) and against peers in the same sector? The benchmarks chart on this page shows this directly.

This page combines live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model so you can answer those three questions in one place. Nothing on this page is investment advice — it's a structured starting point for your own due diligence.

Project description

Synthetix Network (SNX) is a decentralized liquidity protocol that enables the creation and trading of synthetic assets on the Ethereum blockchain. These assets mimic the value of real-world assets, allowing users to gain exposure to various markets without needing to hold the underlying assets. Source: CoinPaprika.com