Synthetix Network Token Synthetix Network Token SNX
Synthetix Network Token Price (SNX) $ 14.27 (USD) -6.2124%

Synthetix Network Token (SNX) price graph

What is Synthetix Network Token (SNX) ?

Synthetix is based in Australia, Synthetix launched a seed funding round in September, 2017 to develop the concept of a self-contained stablecoin payment network. They then kicked off their public ICO on February 28, 2018 and by the end of the ICO on March 7, 2018, they had met their goal of $30,000,000 USD. Synthetix was rebranded from Havven on November 30, 2018. Synthetix is led by a multidisciplinary team of 13 individuals. The project was founded by Kain Warwick, who previously co-founded blueshyft, one of the largest digital payment networks in Australia. The CTO is Justin Moses, who also serves as the Director of Engineering at MongoDB. Synthetix aims to address the problem that companies running centralized payment networks such as PayPal, credit card networks, or the SWIFT banking network have “absolute control over the value within the network, so any transaction conducted within them may be blocked or reversed at any time.” According to the Synthetix white paper, “Although this is ostensibly designed to protect users, it introduces systemic risk for all participants. If the network is compromised or its owners cease to behave benevolently, no party can trust that the value in their account is secure or accessible.” This is theorized to work because anyone who holds SNX tokens in escrow will be incentivized by Synthetix rewards derived from network transaction fees that will be distributed “in proportion with how well each issuer maintains the correct Synths supply.” When a Synthetix escrow user puts their SNX in escrow, USD-stabilized Synths will be automatically put up for sale on a decentralized exchange at a price of $1 USD. To release escrowed SNX, the user must buy back the Synths issued (also at a price of $1 USD) at which point the Synths will be burned. The Synthetix system uses an algorithm to adjust network fees, and therefore dividends, to SNX holders to incentivize (or disincentivize) the holding of SNX in escrow smart contracts, and thus, the creation of Synths. The theory is that this will cause users to mint and burn Synths in the appropriate amount based solely on supply and demand.

What is the current price of Synthetix Network Token (SNX) ?

The recent Synthetix Network Token (SNX) price today is $14.27 USD. We update our SNX to USD on frequent basis. The current Synthetix Network Token situation is down -6.2124% in last 24 hours. The current grepget rank is #64. Synthetix Network Token has a circulating supply of 173,983,987.18082628 SNX coins and a max supply of 234,308,092.086608 SNX coins.

Synthetix Network Token
SNX
Synthetix Network Token
USD
USD
United state Dollar
Synthetix Network Token Market Cap
Market Cap $2.5 billion USD
-5.79085%
Fully Diluted Market Cap $3.3 billion USD

Synthetix Network Token Price Statistics

Synthetix Network Token Price Today
Synthetix Network Token Price $ 14.27USD
-6.2124%
Price Change 24h $-0.9454 USD
24h Low / 24h High $13USD / $15USD
Market Rank #64
Synthetix Network Token Supply
Circulating Supply 173,983,987.18082628
Total Supply 234,308,092.086608
Max Supply 234,308,092.086608

Top 10 cryptocurrency ranking

#1 Bitcoin Bitcoin (BTC) $ 47,602.0
#2 Ethereum Ethereum (ETH) $ 3,543.97
#3 Cardano Cardano (ADA) $ 2.41
#4 Tether Tether (USDT) $ 1.01
#5 Binance Coin Binance Coin (BNB) $ 420.09
#6 XRP XRP (XRP) $ 1.08
#7 Solana Solana (SOL) $ 150.41
#8 Polkadot Polkadot (DOT) $ 34.6
#9 Dogecoin Dogecoin (DOGE) $ 0.237837
#10 USD Coin USD Coin (USDC) $ 1.0
Synthetix Network Token 24hr exchanges
# Exchanges Symbol Price High Price Low Price Volume Trade Count
1 Binance USD Buy SNXBTC 0.00030070 0.00033070 0.00029450 295.56 36,151
2 Binance USD Buy SNXBNB 0.03404000 0.03793000 0.03334000 1,019.69 1,335
3 Binance USD Buy SNXBUSD 14.31 15.89 13.86 5,347,466.35 23,378
4 Binance USD Buy SNXUSDT 14.31 15.85 13.85 66,246,032.61 180,776