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| Synthetix 
| #SNX
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| SNX Price: | $2.70 | | Volume: | $0.1 B | | All Time High: | $28.81 | | Market Cap: | $0.8 B |
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| Circulating Supply: | 312,806,456 |
| Exchanges: | 76
| | Total Supply: | 313,530,363 |
| Markets: | 130
| | Max Supply: | — |
| Pairs: | 59
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The price of #SNX today is $2.70 USD.
The lowest SNX price for this period was $0, the highest was $2.70, and the exact current price of one SNX crypto coin is $2.69529.
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 BTC or other crypto coins. |
The code for Synthetix is #SNX.
Synthetix is 4.2 years old. |
The current market capitalization for Synthetix is $843,102,858.
Synthetix is ranked #57 out of all coins, by market cap (and other factors). |
There is a very large daily trading volume on #SNX.
Today's 24-hour trading volume across all exchanges for Synthetix is $114,557,322. |
| The circulating supply of SNX is 312,806,456 coins, which is 100% of the total coin supply. |
SNX is well integrated with many pairings with other cryptocurrencies and is listed on at least 76 crypto exchanges.
View #SNX trading pairs and crypto exchanges that currently support #SNX purchase. |
SNXweave Weekly Recap 74
February 1, 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.Spartan Council and SIP updates. — Present at the January 25, 2023 Spartan Council Weekly Project Sync: Spartan Council: Cavalier, dsacks, Jackson, KALEB, TerraBellus, William87 Core Contributors: Afif, Ana, joey, jz, noah, Rafa, Regina First, a quick work in progress update: SIP-255, to burn fees instead of distribute them, is currently in its final internal review stage and is being queued for audit, Debt migration will be next up after SIP-255, and, The audit for Perps V2 is complete and is scheduled for Mainnet release this week, As for V3, the CCs are currently processing feedback on the V3 core code and are anticipating a full report from the auditors in the next week or two. Work is also continuing, simultaneously, on the spot market implementation so that it can be sent for audit as soon as the core code audit is complete. Noah said they are loosely planning to have the core system soft launched on Mainnet around mid-February. All we want for Valentine's Day is V3 ❤️. The team is also currently working on tooling, as well as the deployment pipelines, and have been discussing V3 compatibility with existing governance systems. Last week, TerraBellus also brought up a community concern that cros... 
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The Sadr Release
Today, Feb 1st, the Sadr release will begin. There will be no downtime for this release. Here's what's included: SIP-293 - Deprecate Low Volume Synths - sAAVE, sLINK, sDOT, sADA, sMATIC, sUNI, sAVAX, sSOL, The following synths have been deprecated due to the low volume generated by these synths, alongside a drastic decrease in liquidity for the underlying assets from when these assets were initially listed. Synthetix Perps will soon support these markets and provide a much better experience for traders, with support for leverage, 5-10bps trading fees, and deep liquidity. Users holding these spot synths can redeem these synths by following the directions below. Note - This release is still in progress, so synths can't be redeemed yet.How to Redeem deprecated spot synths - Visit etherscan.io & connect your wallet, You get the proxy (aka token) Address from github.com for L1 (or github.com-optimism-l2 for L2) In this example, sAAVE on L1 is 0xd2dF355C19471c8bd7D8A3aa27Ff4e26A21b4076, Fill in the address for the token(s) you'd like to redeem - place a comma next to each (so 0xd2dF355C19471c8bd7D8A3aa27Ff4e26A21b4076, nextaddresshere), That's it. Once your transaction confirms, all of the deprecated spot synths will be redeemed for sUSD., Any Questions? If you've got any comments or questions about the release, please join the conversation on Discord. This release is called Sadr, which like all...
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Synthetix supports tBTC launch as a tBTC minter
Synthetix is excited to announce that Synthetix is officially a tBTC v2 Minter and is supporting the launch of Threshold Network's tBTC v2, the industry's only decentralized and scalable Bitcoin-to-Ethereum bridge. tBTC is launching with a security model called optimistic minting that consists of two main roles: Minters and Guardians. Minters are a permissioned group of actors responsible for monitoring the chain and minting tBTC after each valid deposit. During this monitoring period, permissioned Guardians can review minting requests, cancel any potentially malicious mints, and remove errant minters. Synthetix will play a critical role in the tBTC protocol as a Minter. It's amazing to support the rollout and operation of a crucial piece of truly decentralized infrastructure that will make it possible for BTC to be deployed across DeFi. To learn more about how tBTC works, visit: dashboard.threshold.network To mint tBTC, visit: dashboard.threshold.network
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The Mintaka Release
Today, Jan 30th, the Mintaka release will begin. There will be no downtime for this release. Here's what's included: SIP-297: Perps V2 - Fixes - Bug fixes for Perps V2 calculations, parameters, etc., During the alpha release of Synthetix Perps V2, bugs were discovered that caused inaccuracies in liquidation fee calculations, parameters for delayed orders, and funding rate calculations. Most importantly for traders, the calculation of the liquidation premium has been corrected. Positions that are over-leveraged and have margins nearly depleted are now at risk of liquidation. Traders with extremely high leverage positions (above 25x) are advised to rebalance their portfolios by adding margin or reducing their open positions. The fixes for these bugs are detailed in the technical specification section of SIP 297. These bug fixes are a crucial step in supporting new markets, raising open interest limits, and attracting new users to Synthetix Perps. Any Questions? If you've got any comments or questions about the release, please join the conversation on Discord. This release is called Mintaka, which like all releases, is named after a star (in order of visual magnitude).
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SNXweave Weekly Recap 73
January 25, 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.Spartan Council and SIP updates. — Present at the January 18, 2023 Spartan Council Weekly Project Sync: Spartan Council: Adam, Cavalier, dsacks, Jackson, KALEB, SeliniCapital (represents Jordi), TerraBellus Core Contributors: Afif, David, joey, jz, Mike, Nikita, noah, Regina There are no major milestone updates since last week, but the audit for SIP-255, to burn fees instead of distribute them, is planned to happen after the V3 audit is complete and will go out on the next release. And speaking of V3, the audit feedback is starting to roll in at a faster pace! A couple of the CCs are working on the spot market implementation currently, which should be in a pretty solid place. After spot market implementation, the focus will shift towards processing audit feedback and preparing for launch - which means preparing the deployment pipeline and tooling. Next, some updates were made to Perps V2, and the CCs are working on a second batch of improvements based on the alpha feedback. Afif said they're looking at ways to optimize the timing with the auditors to implement high impact yet relatively simple fixes. The small improvements now allow the market caps to be expanded. Last week the Council also discussed ...
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SNXweave Weekly Recap 72
January 18, 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.Spartan Council and SIP updates. — Present at the January 11, 2023 Spartan Council Weekly Project Sync: Spartan Council: Cavalier, dsacks, Jackson, KALEB, SeliniCapital (represents Jordi), TerraBellus, William87 Core Contributors: Afif, Bex, David, db, Ethernaut, joey, jz, Matt, Mike, Nikita, noah The priorities remain the same for the Core Contributors, and as far as current progress goes, SIP-255 implementation is underway expected to finish this month. As a reminder, this SIP proposes burning fees collected by the fee pool instead of allowing them to claim the fees and have it transferred to them. Once this SIP goes to audit, the debt migration SIP will follow. But the auditors are pretty busy with V3 right now, so the timeline for the completion of these is still likely a few weeks away. Speaking of V3, minor feedback has been rolling in from the auditors, but the full report isn't expected to be ready until the end of January or early February. The CCs are focused on getting the spot market code as far along as possible, and Noah said their goal right now is to get a full V3 system up on testnet to make sure everything is working properly, even if the code isn't finalized. On the Perps V2 side, the team is pre...
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Synthetix Quarterly Report — Q4 2022
Quarterly Report for Synthetix, Quarter 4 of 2022: October - December. Let's start with the highlights, shall we?Q4 Highlights - ⭐ Spartan Council/CCs: Escrow Liquidations & Perps V2 ⭐ Grants Council: Loans UI ⭐ Ambassador Council: Original Wallet & Spartan Spaces Yup, it's that time again! Get ready to recap another exciting quarter for the Synthetix protocol and community. There's been a lot of big news in the broader crypto market in Q4, but before we get into all that, let's review the highlights of the epoch. After quite a bit of back and forth on the details, the ability to liquidate escrowed SNX entries was finally implemented! To understand the implications of this upgrade, we need to discuss a bit of background in other system features: Liquidation is a process that keeps the overall debt health of the protocol within spec, as defined by the Spartan Council (via changes to c-ratio requirements). Earlier in the year, liquidations were socialized which made stakers the only buyers of liquidated SNX. But one remaining issue was that SNX rewards for stakers, which are locked for a 12-month period, were exempt from liquidation prior to this update. We also saw quite a bit of movement on Perps V2 in Q4, which was released on mainnet at the end of December. The objective was to take everything learned from the original perps implementation and iterate towards a design that can suppo...
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SNXweave Weekly Recap 71
January 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.Spartan Council and SIP updates. — Present at the January 5, 2023 Spartan Council Weekly Project Sync: Spartan Council: Adam, Cavalier, dsacks, Jordi, KALEB, TerraBellus, William87 Core Contributors: Afif, Ana, Darius, Jordan, Nikita, noah, Steve First of all, Happy New Year!! All of the new Councils are in full swing, and everyone is gearing up for a great 2023. In case you missed the election results, here they are: 🚨Election Results🚨 Your Spartan Council members for the epoch will be Adam, Cavalier, dsacks, Jackson, Jordi, Kaleb, TerraBellus, and William87, Serving the community on the Treasury Council this epoch will be Bagg, Jordan, Spartan Glory, and SynthaMan, Our Grants Council members will be ALEXANDER, Ana, CT, JVK, and synthquest, And lastly, your Ambassadors for the coming epoch will be GUNBOATs, Kevin, mastermojo, Matt, and MoneyManDoug, Thank you to all who ran, voted, and participated in governance this epoch, and congratulations to our newly elected Council members! Now onto our regular updates…the initial priorities for the year are as follows: Ensure V3 protocol design is robust with sound implementation, Improve atomic swaps, Prepare for Debt Migration from L1 to L2, Furth...
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Synthetix Perps V2 is now live
Synthetix is excited to announce that Synthetix Perps V2 is now live – the future of on-chain perps is here! With its advanced improvements, Perps V2 will revolutionize the on-chain trading experience by significantly reducing fees, improving scalability, capital efficiency, and, most importantly, trader satisfaction. Introducing the first-of-its-kind off-chain oracle system, Synthetix Perps V2 will significantly reduce perps trading fees to only 5-10 basis points, a significant reduction from Perps V1, while maintaining optimal performance and execution efficiency. These reduced fees will open up endless opportunities and growth within the SNX ecosystem. Trading is accessible via Kwenta or Decentrex, the decentralized frontends that use Synthetix liquidity and power Perps trading.Synthetix Perps V2New Off-Chain Oracles - New off-chain oracles provided by Pyth Network allow perps fees to be reduced to 5-10bps-on par with centralized perps platforms. These oracles, pioneered by SNX, greatly improve the trader experience & minimize the risk of frontrunning attacks. They work as follows: off-chain oracles save prices off-chain and are provided to traders by keepers when a trade is initiated, with an 8-sec delay due to block times. The on-chain validation process includes staleness checks, key-threshold confirm, and a final check against on-chain oracles. On-chain perps trading is now a viable alternative to centralized...
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SNXweave Weekly Recap 70
December 21, 2022 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.Spartan Council and SIP updates. — Present at the December 15, 2022 Spartan Council Weekly Project Sync: Spartan Council: Adam, Afif, Burt, dsacks, Ethernaut, ksett, nana, TerraBellus Core Contributors: Bex, Cavalier, joey, jz, KALEB, Leo, Matt, meb, Max, Nikita, noah, Regina, Steve, sunny Since auditors are currently focused on V3 work, the Debt Migration release will likely be pushed to mid-January. Mark will also be re-presenting the Debt Migration SIP sometime soon. But in exciting news, Perps V2 is up!! Afif said they were able to test the upgradability since the second release was an upgrade of the old testnet release, and since everything has been running smoothly on testnet, they were able to put it up on Mainnet this week! On the V3 side, Noah said they've been in touch with the auditors and everything is moving smoothly. Three firms are currently working on audits, and they're all currently in the 'security review' phase (which means the code is frozen). Ale added that one of the firms is likely to focus on the tooling portion of the audit, while the other two focus on the products built on top of that. No additional feature can be added/deployed until this phase of the audit is complete, but the CCs are...
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 | 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...
|  | 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...
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