Overview of Synthetix Network (SNX)
Synthetix Network (SNX) is a leading DeFi derivatives platform enabling on-chain exposure to various assets. Ranked #227 by market cap, SNX has established itself in the decentralized finance ecosystem with a current market capitalization of $197.72M.
Key Metrics and Supply Details
Market Capitalization & Supply
- Circulating Supply: 344.33 million SNX
- Total Supply: 344.75 million SNX
- Max Supply: 328.19 million SNX (updated 6 days ago)
👉 Discover how SNX compares to other top DeFi projects
Price Performance and Historical Data
| Metric | Value |
|---|---|
| All-Time High | $28.87 (Feb 14, 2021) |
| Current Price (BTC) | 0.0₅526 BTC |
| Volume/Market Cap | 0.0319 |
| FDV | $188.46M |
Exchange Listings and Trading Pairs
SNX is listed on 64 exchanges, with top trading pairs including:
- SNX/USDT on Binance, HTX Global, MEXC, LBank, and CoinW.
- 24H Volume: $6.30M (-24.93%).
| Exchange | Pair | Volume (24H) |
|---|---|---|
| Binance | SNX/USDT | $712,839 |
| HTX Global | SNX/USDT | $708,835 |
| MEXC Global | SNX/USDT | $576,522 |
What is Synthetix Network?
Synthetix (SNX) is a decentralized protocol for synthetic assets (synths), allowing users to trade real-world assets like commodities, stocks, and cryptocurrencies on-chain without intermediaries. Key features:
- Collateralized Debt Positions (CDPs): Users stake SNX to mint synths.
- Decentralized Oracles: Ensures accurate price feeds.
👉 Learn how to stake SNX for passive income
Contract Addresses
| Network | Contract Address |
|---|---|
| Ethereum | 0xc011a...f2a6f |
| BNB Smart Chain | 0x9ac98...e8404 |
| Polygon | 0x50b72...ef68a |
FAQs About Synthetix Network (SNX)
1. What is SNX used for?
SNX is staked as collateral to mint synthetic assets (synths) like sUSD, sBTC, and sETH. Stakers earn fees from synth trading.
2. How does Synthetix ensure price accuracy?
Decentralized oracles (e.g., Chainlink) provide real-time price feeds to maintain synth peg stability.
3. Is SNX a good investment?
SNX suits those bullish on DeFi growth and synthetic asset adoption. However, its value depends on platform usage and broader crypto trends.
4. Where can I store SNX tokens?
Use wallets supporting Ethereum (MetaMask, Ledger) or BNB Smart Chain (Trust Wallet).
5. What’s the risk of staking SNX?
Price volatility may trigger liquidations if collateralization ratios fall below 400%.
Final Thoughts
Synthetix Network remains a pioneer in DeFi derivatives, combining staking rewards with synthetic asset trading. Monitor exchange listings and supply metrics for informed decisions.
For real-time SNX charts:
👉 Track SNX price movements here