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SNX

Synthetix  

#SNX

SNX Price:
$3.94
Volume:
$66.8 M
All Time High:
$28.81
Market Cap:
$1.3 B


Circulating Supply:
327,769,197
Exchanges:
81
Total Supply:
328,193,104
Markets:
130
Max Supply:
Pairs:
69



  SNX PRICE


The price of #SNX today is $3.94 USD.

The lowest SNX price for this period was $0, the highest was $3.94, and the exact current price of one SNX crypto coin is $3.93902.

The all-time high SNX coin price was $28.81.

Use our custom price calculator to see the hypothetical price of SNX with market cap of ETH or other crypto coins.


  SNX OVERVIEW


The code for Synthetix is #SNX.

Synthetix is 5.2 years old.


  SNX MARKET CAP


The current market capitalization for Synthetix is $1,291,089,065.

Synthetix is ranked #66 out of all coins, by market cap (and other factors).


  SNX VOLUME


The trading volume is large today for #SNX.

Today's 24-hour trading volume across all exchanges for Synthetix is $66,818,956.


  SNX SUPPLY


The circulating supply of SNX is 327,769,197 coins, which is 100% of the total coin supply.


  SNX BLOCKCHAIN


SNX is a token on the Ethereum blockchain, and has digital contracts with 7 other blockchains.

See list of the SNX Blockchain contracts with 8 different blockchains.


  SNX EXCHANGES


SNX is well integrated with many pairings with other cryptocurrencies and is listed on at least 81 crypto exchanges.

View #SNX trading pairs and crypto exchanges that currently support #SNX purchase.


  SNX RESOURCES


Websitewww.synthetix.io
Whitepaperdocs.synthetix.io/litepaper
Twittersynthetix_io
Redditr/synthetix_io
Telegramhavven_news
DiscordAEdUHzt


  SNX DEVELOPER NEWS



Synthetix Quarterly Report — Q3 2023

Quarterly Report for Synthetix, Quarter 3 of 2023: July - September.👉Q3 Highlights ⭐ Spartan Council/CCs: Base Deployment & Testnet Trading Competition ⭐ Grants Council: NFT Project & Watcher Page ⭐ Ambassador Council: Spartan Spaces & Governance Proposals As we wrap up the third quarter of 2023, it's time to review the major events of the last three months - so let's start with the highlights! With the V3 core system deployed, the Core Contributors (CCs) directed much of their efforts over the past quarter towards building out Synthetix's flagship product - Perps V3. A big part of this effort was the development of an Ethereum standard for on-demand off-chain data retrieval (ERC-7412). The testnet competition was originally scheduled for some time in July, but during development it became clear that a solution for reading oracle data across chains was required and Chainlink's Cross-Chain Interoperability Protocol (CCIP) currently only capable of writing data across chains. This resulted in some minor delays, but the testnet competition eventually had a firm date for the beginning of October after the CCs worked with partners to integrate ERC-7412. The competition is being held on Base, which brings us to a huge protocol milestone and our next major highlight for the quarter. The idea that Synthetix should be a protocol capable of seamlessly dep...




SNXweave Weekly Recap 110

October 11, 2023 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week.👉TLDR. — PoC for cross-chain pool synthesis (SIP-312) is continuing - CCs are exploring a solution using Wormhole, Testnet trading competition is still live, CCs have identified a number of core changes, Focus is now shifting towards the staking dApp for V3, SC & CCs had an extensive discussion regarding integrator profitability, read below for full details, Grants Council update: Team is considering retroactive grant to Copin, Watcher Page is live, CT is working on finishing touches to governance doc, NFT free mint dropping soon, Notifi project with Matt is being tested with The 300, Spartan Council and SIP updates. — Present at the October 4, 2023 Spartan Council Weekly Project Sync: Spartan Council: Adam, Burt, cyberduck, Genefaesius.eth (Gene), Jackson, Millie Core Contributors: Afif, Cavalier, KALEB, noah, Noisekit, sunny, troy First up, for our work in progress update, proof of concept for the cross-chain pool synthesis SIP is continuing to develop. The CCs are exploring a solution using Wormhole, which is a cross chain messaging platform that allows developers to build decentralized applications that span the entire blockchain ecosystem. Wormhole is currently working on ...




A quick explainer on Synthetix V3

TL;DR: Synthetix is set to revolutionize DeFi with its V3 release, enabling users to pool collateral, create onchain financial markets, and power countless new protocols with Synthetix liquidity and infrastructure. In essence, V3 offers a more dynamic and modular approach to onchain derivative creation, liquidity growth, and infrastructure management, expanding the possibilities of what can be built atop the protocol. Synthetix stands at the cusp of creating a DeFi revolution with its upcoming V3 release. It'll help to usher in a period of mass innovation throughout the world of onchain derivatives and financial instruments.What is Synthetix V3? Let me explain. At its core, the entire Synthetix V3 system is a Collateralized Debt Position (CDP) protocol. Similar to MakerDAO/Liquity, you take your collateral (SNX, ETH/wsteth/other LSDs/etc), deposit it into a contract, and then generate a stablecoin. In Synthetix's case, the system-generated stablecoin is sUSD. The differentiator for Synthetix is that you can instead delegate your entire CDP, collateral and all, to a larger basket of collateral called a Pool. Pools can be considered a collective CDP, with baskets of collateral used to generate sUSD and allocate liquidity to derivative markets for traders to utilize. Pool owners are the deciders of how liquidity is allocated. Because of this, even though anyone can create and manage a pool, most stakers will likely dire...




SNXweave Weekly Recap 109

October 4, 2023 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week.👉TLDR. — Perps V3 Base Testnet Competition: Officially begun! The competition will conclude on October 23rd at midnight UTC. If whitelisted, you can participate via Kwenta or Polynomial's Perps V3 interfaces. Read below for more details about rules., SIP-323: Adopt 's' prefix for Synthetix V3 asset tickers has been approved by auditors, V3 Migration: Following the testnet competition, the current plan is to do a limited Mainnet alpha release with Perps as the first live test for connected V2 and V3 systems., Reward distributor design: Duck questioned how fees for Base activity would be distributed to stakers on Optimism or ETH Mainnet and if that should be considered in the design of V3 - this started a discussion amongst the SC and CCs. Read below for the full discussion., SIP-341: Add Configurer Address presentation recap, Grants Council update: NFT website and auctions are live, mint coming very soon! Trading comp NFT rewards have been finalized, team is in the process of choosing a dev for the V3 dune analytics stats front-end, and Sunny is meeting with the devs who are working on the Thales Overtime market on V3. The Governance guide is coming along nicely, team has also been discussing s...




The Perps V3 Testnet Trading Competition on Base is Live

1. Kick-off: The Perps V3 Testnet Trading Competition has officially begun. It started on October 2nd, at 5 pm UTC, and will conclude on October 23rd at midnight UTC. 2. Trading Platforms: You can participate in the competition via Kwenta or Polynomial perps v3 interfaces. Don't forget to connect to the Base Goerli Testnet for trading. 3. Leaderboard: For real-time competition standings, visit this link. 4. Prize Allocation: The rewards structure stands as follows: 1st place: $5,000 SNX + 5 Kwenta tokens, 2nd place: $2,500 SNX + 4 Kwenta tokens, 3rd place: $1,000 SNX + 3 Kwenta tokens, 4th - 5th place: $500 SNX + 2-1 Kwenta tokens respectively, 6th - 10th place: $500 SNX each, 5. Whitelisted Participants: See if you're part of the chosen pool to participate in this competition here. 6. Competition Rules: Transferring balances between wallets or trading accounts is prohibited and will lead to disqualification. Trading is allowed at any time within the competition period. 7. Report Bugs: Notice any glitches? Report bugs on the Synthetix Discord in the #v3-bug-report channel or your respective frontend integrator. 8. Bug Bounties: Bug bounty prizes are awarded based on severity for smart contract and webapp bugs, as outlined on Immunefi. Rewards range from $10,000 to $1,000 for smart contract bugs, and $300-$1000 for webapp bugs. Note that payouts for reported bugs from the testnet competition are not the same rate as payouts li...




SNXweave Weekly Recap 108

September 27, 2023 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week.👉TLDR. — V3: nomenclature discussion, Perps V3: Noah gave an overview of ERC-7412, explaining that a standardized pattern for retrieving oracle data that can be used throughout the protocol is needed for pulling price data on-chain, Perps V3 Base Testnet Competition: Starting October 2nd! Read below for prize details & see blog post for more info, Fee sharing: some integrators have expressed interest in meeting with the SC to discuss fee sharing (both with partners and Base LPs) - mainly would like to discuss how fees will be allocated in an environment with a new collateral type (ETH) being siloed exclusively on base, SIP-340: Add Trusted Multicall Forwarder presentation recap, SCCP-307: Thales - Create Pool and register Market presentation recap, SIP-2034: Deprecation of pDAO and Introduction of Risk Council presentation recap, Grants Council update: Supplying NFTs for testnet competition prizes, Jakub is working with GC on the NFT website to get app hosted, Sunny is running a test for a rebalance scenario for Overtime Markets, team discussed a large grant request that they received and ultimately voted against, ENS names have been integrated into the Watcher Page and th...




Synthetix Perps V3 Base Testnet Trading Competition

We are thrilled to announce the Synthetix Perps V3 Trading Competition, beginning next week, October 2nd, on Base Testnet! For this event, we've partnered with two frontend integrators, Kwenta and Polynomial, to bring a testnet trading experience to our ecosystem. As part of the competition's launch, Synthetix is offering a generous prize pool of $15,000 worth of SNX, 15 Kwenta tokens, and exclusive NFTs thanks to the SNX grants council.Synthetix Perps V3 Testnet Trading Competition Details: - The competition will begin on October 2nd. The winners will be selected based on their trading performance, with the highest returns taking the largest rewards: 1st place: $5,000 SNX + 5 Kwenta tokens , 2nd place: $2,500 SNX + 4 Kwenta tokens., 3rd place: $1,000 SNX + 3 Kwenta tokens., 4th place: $500 SNX + 2 Kwenta tokens., 5th place: $500 SNX + 1 Kwenta tokens., 6th-10th place: $500 SNX., There will be other rewards handed out to select trade actions that will be announced after the competition.How to Participate in the Trading Competition:. — Navigate to the Synthetix Perps V3 trading integrators on either Kwenta or Polynomial., Connect your wallet to Base Goerli testnet (chainlist.org)., Place trades between October 2nd and October 15th., Winners will have their prizes distributed at the end of the competition period., Bug Bounty Prizes:. — Synthetix will be paying bug bounties based on the levels set on Immunefi, but d...




SNXweave Weekly Recap 107

September 20, 2023 The following post contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, as well as the Grants Council and Ambassador Council from last week.👉TLDR. — stETH/ETH, ZRX, and UMA perpetual futures markets were added to Synthetix Perps, V3: The third major upgrade to the core system was released (SIPs 323, 326, and 331–335). CCs are working on building a cross-chain pool synthesis proof of concept using cross-chain read oracle ERC-7412, Perps V3: SIP is still in draft, but the fixes from the second audit report are being finalized., Testnet trading competition to start next week, and will likely run for several weeks, L1 Perps audit is in progress - protocols like Ethena have expressed interest, Debt migration was discussed further by SC & CCs - was ultimately deemed not a top priority right now, V3 migration will follow a similar progression to the Perps V2 rollout - plan is to launch to Mainnet with tight OI caps to watch the performance with real trades. Earliest possible full-scale launch sometime in November or December., SC & CCs discussed plans to incentivize stakers to make the move to V3, The updated election system code is being finalized for audit, and the SIP for the Cross-chain Election Module (V3GM) is being drafted, SCCP-305: BetSwirl - Create Pool and register Ma...




Synthetix Perps lists stETH/ETH

Synthetix is excited to announce the addition of stETH/ETH perpetual futures markets, now available for leverage trading via Synthetix Perps. These markets were approved by governance in SIP 2031 and had initial configurable values set by SCCP-2044.Trading Synthetix Perps - Synthetix Perps can be traded on front-ends that integrate with SNX liquidity and support perps trading. These include Kwenta, Polynomial, and dHEDGE. The Synthetix DAO does not provide any trading front-ends and instead relies on third-party user-facing protocols to serve traders. For more information on integrating with Synthetix Perps, please refer to the Synthetix Docs.New Perpetual Futures Markets - The addition of these new markets expands the number of assets available for leverage trading through Synthetix Perps. Prices will be set by the decentralized off-chain Pyth Network oracle, and fees may vary depending on the asset. The latest configurable values, including fees, open interest, and more, can be found in SCCP-2044. These are configurable governance values and can be changed at any time. Refer to pricing and variables displayed in integrator frontends and the SCCP forum for updated information.Listing New Markets - The process for adding new perps markets to Synthetix is based on demand, liquidity, and volatility. All markets must be approved by Synthetix Governance through a SIP and/or a subsequent SCCP to configure variables. Additionally, d...




Lyra Finance: The Leading Onchain Options Protocol

#x1F4A1;This report was provided by a community member. While Synthetix has reviewed the content for veracity, these views are not necessarily endorsed by the Synthetix DAO and/or community. Lyra protocol provides decentralized options infrastructure utilizing Synthethix infrastructure to support margining and hedging for LPs. Options are often difficult for the average user to wrap their head around compared to perpetual futures, so in this article we'll cover all you need to know about options + how Lyra provides infrastructure to trade them.Options Primer There's a million different guides to options out there right now - if you've never heard of them before there's quite a deep rabbit hole to go down. At the risk of sounding like a broken record, I'll restate some of that primer material here to help set the scene for Lyra. You can skip this section if you're already familiar with what options contracts are. An option contract is an agreement between a buyer and a seller to buy or sell a specific asset on a specified expiration date in the future (expiry date) at a specific price (strike price). We have call options and put options - Call options represent the contract buyer's right to purchase the asset in the future, while put options represent the contract buyer's right to sell the asset in the future. The seller of the contract is then obligated to sell the user that asset (or purchase it from then, for put contracts) ...




  SNX NEWS


Market Week in Review: Crypto's Highs and Lows With ICP and SNX Leading ...

    Over the past week, bitcoin and ethereum experienced modest declines, ranging from 1.8% to 3.6%, when compared to the U.S. dollar. Concurrently, several crypto assets showcased impressive double-digit growth, with ICP, HNT, BONK, and WOO leading the surge throughout these seven days.16 Crypto Assets Record Double-Digit Gains, 8 Witness Double-Digit Losses Commencing on Monday, Dec. 18, 2023, the crypto market is valued at $1.61 trillion, marking a slight decrease of 1.9% from the previous day. As the holiday season approaches, global trading volumes have dipped, yet in the past 24 hours, a notable $76.24 billion was traded, a significant 30% increase from the day before. Throughout the week, internet computer (ICP) emerged as the top performer, soaring by 85.5%. Helium (HNT) also saw a remarkable rise of 68.9%, while the meme coin bonk (BONK) escalated by 68%. Additionally, woo network (WOO) appreciated by 57.1% against the dollar. Among the more than 11,000 cryptocurrencies listed, 16 experienced double-digit growth this week. Other notable performers this week included OSMO, INJ, ASTR, FET, TKX, STX, TIA, BGB, and GT. Besides BTC and ETH, XRP, SOL, and AVAX were prominent in trading volume. Despite this, XRP dropped by 4.4% over the week, while SOL increased by 3.1%, and AVAX surged by more than 10%. Other high-volume traders like DOGE, BNB, LINK, and ADA also remained in the spotlight. On the other end of the spectrum, synthetix network (SNX) emerged as the week's most s... read More



Synthetix (SNX) Drops 18% As Crypto Market Cools Down – Details

    The market is currently experiencing an enormous pullback after nearly a month of continuous gains. According to Coingecko, the broader crypto market is down nearly 3% as major cryptocurrencies like Bitcoin, Ethereum, and XRP drop from year-to-date highs. As the sector cools down, altcoins are pulled downward.  Synthetix is one of the sufferers of the massive bearish pressure engulfing the market. Coingecko data shows that the token is bleeding, with the biggest drop occurring in the weekly timeframe at over 16%.  Big Things Coming For Synthetix Although SNX isn’t faring well within the market environment, the Synthetix dev team is hot on its tracks to remain competitive within the world of crypto. Last week, Synthetix announced on X that they are nearing the launch of the Andromeda Release on their mainnet and the Ethereum Mainnet.  Andromeda Release is the implementation of the Perps V3 which, according to their recent blog post, is focused on enhancing trading efficiency, usability, and resilience on the network. It will also add new features like Native Cross-Margining, Expanded Collateral Options, MEV-Resistant Liquidation Process, and many more.  Synthetix Perps V3 is set to launch with the Andromeda Release on Base, soon to be followed by an Ethereum Mainnet version for medium to whale traders and protocols like @ethena_labs! https://t.co/72QmySbAfb Check out the TLDR and read the blog post to learn more. - Perps V3… pic.twitter.com/... read More



Synthetix (SNX) Shines As TVL Hits $670M, Analyst Predicts Continued Ups...

    Synthetix (SNX), currently positioned as the 54th largest cryptocurrency, has been closely aligned with the overall market trend. Over the past 30 days, SNX has experienced a substantial uptrend of 60%, while its year-to-date performance shows an impressive price increase of over 108%.  These notable achievements indicate the potential for continued bullish momentum for the decentralized protocol and its native token. Significant Growth For Synthetix As Demand For On-Chain Derivatives Surges Renowned cryptocurrency analyst and writer, Jake Pahor, has expressed a highly optimistic outlook on SNX, hailing it as the ultimate “picks & shovels play” in anticipation of the forthcoming bull market.  Pahor highlights Synthetix's pivotal role as the backbone for derivatives trading in the decentralized finance (DeFi) sector. The protocol has already amassed an annualized revenue of $54 million, serving as a platform that enables the creation and trading of synthetic assets such as commodities, stocks, and currencies. While Synthetix may not have user-facing front-ends, it powers popular DeFi applications like Kwenta, Polynomial, dHedge, and Lyra. As the demand for permissionless trading of spot synthetics and on-chain derivatives of traditional assets continues to rise, Synthetix stands poised for significant growth in the coming years, according to Pahor. Notably, a key driver of Synthetix's success lies in the fees generated on every synthetic asset exchange, ... read More



Bitcoin Ping Pongs at $30K as Synthetix (SNX) Leads Altcoin Rally: Marke...

    The cryptocurrency market failed to initiate anything of substance throughout the past 24 hours, with bears somewhat assuming control over the momentum. The total market capitalization dropped by around $12 billion during the period, where most major cryptocurrencies are trading in the red today. Bitcoin's price is flirting with $30K, but this might be about to change soon, according to some analysts. Let's dive in. Bitcoin Price Ping Pongs at $30K The BTC price seems unable to break out from the relatively narrow range that it's currently trading within. The price has once again fallen below the pivotal level of $30K as it failed to sustain yesterday's gains, as seen in the chart below. Source: TradingView Prominent analyst Willy Woo has recently observed that the price might soon be about to break out of its consolidation, with many indicators leaning bullish. If that's the case, we can finally see BTC move away from the current range. Bitcoin's dominance remains more or less where it was yesterday - at around 46.5%, according to CoinGecko. This shows that altcoins were unable to make a difference as well. Synthetix Network (SNX) Pumps 10% Daily Most of the larger altcoins are trading in the red today, as demonstrated in the heatmap below. Most notably, Ripple's XRP has been unable to sustain above $0.8 and has tumbled to $0.77, down 5.5% on the day. Source: Quantify Crypto That said, SOL is down even more, trading at negative 7% in the past 24 hours, down to $25. The crypt... read More



PEPE Madness Transitions: Synthetix (SNX) Soars 10% on Proposal to Add P...

    Synthetix (SNX) is trading 10% up over the 24-hour period. The recent spike in price comes amid a new proposal. SNX bulls likely have PEPE madness to thank for the market bump. The classic meme frog cryptocurrency is adding value to every market it touches. Volumes surged 150% in the wake of Synthetix Improvement Proposal (SIP) 2014. That would add PEPE coin markets to the L2 blockchain. Synthetix is a decentralized exchange for trading 'synthetic' crypto assets. It operates in the blockchain ecosystem as both a Layer-2 scaling solution and DEX. The project was launched in Sept 2017 by Kain Warwick. Synthetix lives on the Ethereum and Optimism mainnets. SNX skyrocketed last year when the network introduced atomic swaps. This week, the crypto got a big price bump out of a proposal to add eight new markets. Among them, most notably, was this year's memecoin darling, PEPE coin: Synthetix Improvement Proposal (SIP) 2014 and 2015, if passed, would open eight new markets for synthetic versions of several notable cryptocurrencies. The most notable market is likely the community’s interest in integrating the mega-popular meme coin Pepecoin (PEPE).' SIP 2014 would open trading for PEPE, SUI, and BLUR. SIP 2015 would add XRP, DOT, TRX, FLOKI, and INJ. The proposals were currently up for voting this week. The post PEPE Madness Transitions: Synthetix (SNX) Soars 10% on Proposal to Add Pepe Coin appeared first on CryptoPotato. read More



Reasons Why Synthetix (SNX) Skyrocketed by Over 100%

    The cryptocurrency market is showing signs of a minor relief amidst the bloodbath, but Synthetix (SNX) has emerged as the clear winner today. Synthetix (SNX) Takes the Lead The native utility and governance token of the layer-2 scaling solution Synthetix attempted to reclaim the previous local top formed around the $3-resistance area. SNX briefly witnessed a triple-digit surge of more than 100% in the last 24 hours, climbing to $3.4 before retracing to around $2.6. SNXUSD. Source: TradingView Additionally, SNX's trading volume skyrocketed by an astonishing 1,200%. This massive come-back in trade volume, in turn, spurred the rally for SNX. Subsequently, Synthetix became the third-largest protocol accounting for the most trading fees, just behind Uniswap and Ethereum. Often described as a 'blue chip' DeFi project, Synthetix was one of the first projects to launch on the Ethereum network. But Why the Sudden Traction? The native token got a boost after Synthetix collaborated with liquidity provider Curve Finance. The aim is to develop Curve pools for Synthetic Ether (sETH)/Ether (ETH), Synthetic Bitcoin (sBTC)/Bitcoin (BTC), as well as Synthetic USD (sUSD)/3CRV. This would enable market participants to convert synthetic assets such as sETH to ETH in a significantly cost-effective way. The introduction of the atomic swap function with the SIP-120 proposal is one of the catalysts driving the ongoing traction. Meanwhile, the integration with Curve Finance, and the decentralized exch... read More



Synthetix (SNX) Price, Monday's Biggest Gainer, Balloons By 100% &...

    After plunging below $18,000 over the weekend to trade at a price of SNX, the native token of Synthetix decentralized finance (DeFi) platform, has gained more than 100% to usher in the week. SNX has proven to be the stock with the biggest rise on Monday. The token's 24-hour trading volume has increased by more than 1,200% to $322 million, according to data from CoinMarketCap. This indicates that investors are pouring money into the token despite its poor performance last week, as it has been put up for bid. Additionally, this abrupt growth in SNX is supported by the increasing daily network volume as a result of its new function. Suggested Reading | Bitcoin Climbs Back Above $20K, A Bit Of A Relief To The Sinking Crypto Market Synthetix is a Layer-2 scaling solution that provides on-chain exposure to a wide variety of crypto and non-crypto assets. It recently partnered with liquidity provider Curve Finance to create Curve pools for sETH/ETH, sUSD/3CRV, and  sBTC/BTC, allowing investors to convert synths such as sETH to Ether (ETH) at more affordable rates. Synthetix Token Climbs By Half In Seven Days The Synthetix token is selling at $3.05 at the time of writing, a 50 percent increase over the past week. The latest price increase has assisted the token in erasing its deficit from the  ongoing market meltdown. The price increase of SNX is not only attributable to optimistic perceptions surrounding Bitcoin at the start of the week, but also to investor... read More



More Synthetix (#SNX) News

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