Synthetix Price Prediction 2023-2032
- Synthetix Price Prediction 2023 – up to $4.30
- Synthetix Price Prediction 2026 – up to $12.81
- Synthetix Price Prediction 2029 – up to $40.56
- Synthetix Price Prediction 2032- up to $125.46
Cryptocurrency adoption is on exponential growth, especially altcoins and, more so, those associated with decentralized finance (DeFi). One of the altcoins whose popularity has risen is the SNX coin, and with this Synthetix price prediction, we can gauge the coin’s potential.
But will you heed this warning:
Bull Trap Warning: Crypto Now Braced For A March Earthquake After $200 Billion Bitcoin And Ethereum Price Rally
Now, Morgan Stanley strategists have said they think the recent stock market rally is “a bull trap” and predicted March will bring a stock market crash that could drag down the price of bitcoin, Ethereum, and other cryptocurrencies.
Synthetix Network Token (SNX) is an Ethereum token that powers Synthetix, a decentralized synthetic asset issuance protocol. Synthetic assets are minted when token holders stake their SNX as collateral using Mintr, a decentralized application for interacting with the Synthetix contracts.
For 2023, more users push SNX to higher heights in the crypto market. The innovation coming from the @synthetix_io ecosystem is wild. Communities are looking to make a quick dollar, and then there are communities like Synthetix that want to build something that improves DeFi. The big difference but the big question would be: Is SNX staking risk-free?
How much is SNX worth?
Today’s Synthetix price is $2.93 with a 24-hour trading volume of $130,493,601. Synthetix is up 5.75% in the last 24 hours. The current CoinMarketCap ranking is #71, with a live market cap of $741,062,962. It has a circulating supply of 252,906,841 SNX coins and a max. supply of 308,069,419 SNX coins.
Let’s take a look at the historical background of the network to understand what to expect with the Synthetix price action in the future.
Also Read:
- SNX Price Analysis: SNX price at $11.4 resistance, what’s the next move?
- Bitcoin, Binance Coin, Fantom, and Synthetix Daily Price Analyses – 17 September Morning Price Prediction
- Unlimited Liquidity on the Synthetix Network
- How to Stake SNX: Unlimited Liquidity on the Synthetix Network
- SNX Price Analysis: SNX price at $11.4 resistance, what’s the next move?
What is SNX?
SNX is the native cryptocurrency of the Synthetix network. The SNX token is an ERC20 token, and therefore it is compatible with ETH wallets. Besides facilitating activities (specifically to offer collateral) within the Synthetix network, SNX holders can become SNX stakers by staking their SNX coins to earn staking rewards.
Who is the Synthetix founder?
Synthetix network was launched in September 2017 under Havven (HAV). Its founder is Kain Warwick. Havven (HAV) rebranded to the current Synthetix name a year later, a name it has maintained to date. Warwick is also the founder of Pouncer, a live auction Australian site, and a non-executive director at Blueshyft retail network.
What is the Synthetix network?
Synthetix Network is a decentralized finance (DeFi) protocol that allows users to trade synthetic assets (synths). The protocol is built on the Ethereum blockchain, and it provides liquidity for synth tokens so that traders can seamlessly trade them. Currently, the Synthetix network is the 40th largest cryptocurrency trading exchange worldwide.
The platform enables users to issue and trade synthetic assets — digital assets that represent other real assets like stocks, fiat currencies, commodities, or cryptocurrencies. It also has a staking mechanism that incentivizes users to provide liquidity and maintain the platform.
The Synthetix Protocol was originally conceived as Havven back in 2017 by Kain Warwick. Warwick is currently also a Non-Executive Director of blueshyft- a network of over 1200 retail locations around Australia.
SNX is a derivative product
In a nutshell, synthetic assets are derivative products issued and traded on DeFi protocols. They are similar to traditional derivative products that derive their value from underlying assets like cryptocurrencies, fiat currency, commodities, precious metals, bonds, and stocks.
The underlying assets are cataloged onto a DeFi protocol like the Synthetix network through tokenization by using smart contracts. Then the tokens, which represent a certificate of ownership of the real-world assets, are issued to investors and traders who can then go ahead and trade the derived assets without holding the real-world assets.
Synthetix unique features
Synthetix network was among the first blockchain protocols to introduce synthetic crypto assets.
The synthetic cryptocurrency assets minted via the Synthetix protocol are synths and have an ‘s’ at the beginning of their names. If the underlying asset is the USD, for example, the synthetic help on Synthetix would appear as sUSD, BTC would appear as sBTC, ETH would appear as sETH, and so on.
The community voted the synths for them to exist on the Synthetix protocol.
The prices of the underlying assets of the synths are tracked using smart contract price delivery protocols known as oracles. This system ensures no slippage or liquidity issues when trading the synths.
To mint a synth on the Synthetix network, a user will have to lock up some SNX tokens in a smart contract.
How to Stake SNX
If you truly want to make money staking SNX, there are a few easy steps involved.
- First, you need to buy Synthetix in any exchange and connect to a web3 wallet.
- Visit Mintr, the best portal interface for minting and managing Synths.
- Connect your web3 wallet to Mintr.
- Click ‘Mint’ and choose what type of Synth you want to mint.
- Remember the collateralization ratio of 750%
- Input the number of Synths you want to mint.
- Click ‘Mint Now’.
- Confirm the transaction in your web3 wallet.
Afterward, your SNX token will automatically be staked. You will now be able to enjoy rewards generated from trading fees. Furthermore, you are also subject to inflation rewards.
SNX Price History
The Synthetix token was first listed on a crypto exchange for trading in March 2018. Until June 2020, the SNX was trading below $1.5, as seen in the chart below.
However, in July 2020, the Synthetix coin unleashed a monster bullish rally that continued until February 2021. And during the bullish momentum, the SNX hit an all-time high of $28.77.
After hitting an all-time high, the SNX price took a downward turn to around $6 in June 2021. The cryptocurrency continued in a bullish trend since the end of June. Within the last month, the price of SNX is up by 40.61%, and in the past week, the token has gained 18.65%.
Synthetix Technical Analysis
Synthetix’s price has increased today by 5.71%, making the analysis of its future price hopeful. For the past 24 hours, the bulls successfully drew a thin upward trend line for the price function. The trend is still visible as of this writing. Due to the strong upward line, the price reached a high of $2.80 earlier today. But, the bulls were able to quickly push the price back up, and it is now trading at $2.798.
The green histogram shows that the MACD is currently bullish. The indicator also shows a significant bullish momentum. The Bollinger band’s upper limit, $2.826 on the Synthetix price, represents the place where resistance is at its strongest. Nonetheless, Synthetix is best supported near the lowest point of Bollinger’s band, which is $2.298.
The relative strength index (RSI), a gauge of market stability, for Synthetix is 57.53. The coin is therefore assumed to be above the top limit. Also, it appears that the RSI is currently rising.
Synthetix Price Predictions by Cryptopolitan
According to our price prediction, Synthetix will have a maximum price of $4.3 by the end of 2023. At this pricing, the coin’s value will climb and rise to $27.56, its highest level in five years. Synthetix offers a wealth of possibilities and a bright future. SNX’s value is expected to gradually rise until 2032 when it will reach $125.46.
Synthetix Price Prediction 2023
Our Synthetix price prediction for 2023 anticipates a maximum price of $4.3. The coin is expected to cost $3.76 on average, with a minimum price of $3.63.
Synthetix Price Prediction 2024
Our Synthetix price prediction for 2024 is anticipated to skyrocket, reaching a maximum of $6.29. A minimum price of $4.96 is also probable, and the prices could retrace soon to reach an average price of $5.11.
Synthetix Price Prediction 2025
Our Synthetix price prediction for 2025 shows that Synthetix could have a bull run, and the price could undoubtedly rise and attain a maximum value of $8.58. Although the price is seen to rise from the previous year, the coin will have to experience a minimum price of $7.37 and an average trading price of $7.57.
Synthetix Price Prediction 2026
Our Synthetix price prediction for 2026 is a maximum value of $12.81. The Synthetix price should be around an average of $11.32 and a minimum value of $10.95 for the same year.
Synthetix Price Prediction 2027
Our Synthetix SNX price forecast for 2027, the price of SNX will at least reach $16.21. According to our forecast, there will be a slight change in price, a high price of $19.03 and a low price of roughly $16.78.
Synthetix Price Prediction 2028
Our Synthetix price prediction for 2028 states that the Synthetix price range will hit a maximum base price of $27.56. We expect the digital coin to continue its bullish run from the previous year while keeping a minimum and average price of $24.14 and $23.47, respectively.
Synthetix Price Prediction 2029
Our Synthetix price prediction for 2029 suggests a minimum value of $34.56. The price of the asset could reach a maximum value of $40.56, with an average trading price of $35.76 throughout 2029.
Synthetix Price Prediction 2030
Our Synthetix price prediction for 2030 foresees that it could reach a peak price of $60.18. The digital coin is expected to maintain an average price of $51.96 and a minimum of $50.53.
Synthetix Price Prediction 2031
Our Synthetix Price prediction for 2032 is expected to reach its minimum price of $73.41 in 2032. We predict that there will be a major bull run with a maximum price of $85.7 and an average price of about $75.49.
Synthetix Price Prediction 2032
Our Synthetix price prediction for 2032, Synthetix, should reach a maximum of $125.46 in 2032. It’s expected that we will lose value, falling to a minimum price of $102.48 and an average price of $105.5.
Synthetix Price Prediction by Coincodex
By March 4, 2023, the value of Synthetix is anticipated to increase by 8.37% and reach $2.94 based on Coincodex’s most recent price estimate. Coincodex technical indicators indicate that the present mood is bullish, and the Fear & Greed Index is at 50. (Neutral). In the last 30 days, Synthetix produced 18/30 (60%) green days and 5.39% price volatility. It’s an excellent time to buy Synthetix right now based on the Coincodex Synthetix forecast.
One method of projecting the future direction of the Synthetix price is to compare it to other significant technological advancements and trends. The price of Synthetix is depicted in the table above as it would be at the end of the years 2024, 2025, and 2026 if its growth trajectory had been the same as that of the internet or of major tech firms like Google and Facebook during their growth phases.
The best-case scenario for the price of SNX in 2026 is $94.83 if it grows at the same rate as Facebook. If Synthetix were to follow the expansion of the Internet, the forecast for 2026 would be $10.88.
Synthetix Price Prediction by DigitalCoinPrice
We projected that the price of SNX would decrease by -$13.45% at the start of March 2023 based on the price movements of Synthetix. The price is predicted to increase by a maximum of $111.67% by the middle of March. SNX’s growth by the end of the month is forecast to be $107.11%.
We anticipated that at the start of March 2023, the price of SNX will decrease by -$13.45% based on Synthetix’s price changes. The price is predicted to decrease by a maximum of $111.67% in the middle of March. SNX is anticipated to decrease by $107.11% by the end of the month.
By 2025, the price may reach a high of $8.51 and a minimum of $7.98, depending on the state of the market. In light of this, the average SNX price may start at $8.41.
Synthetix Price Predictions by Industry Influencers
SNX will continue to rise and experience a bull run, according to Jacob Crypto Bury, a youtube cryptocurrency analyst, and will reach new highs by the end of the year. As we wait for the next bull run, he predicts that 2023 will be a fantastic year for accumulation. It is anticipated that SNX would reach $13.66 by the end of 2023.
Conclusion
Synthetix SNX recently defied the bear crypto market and surged by 100%. Fees generated for the day amounted to $1M following a partnership with Curve protocol. Synthetix has been resilient through the year and has the potential to surge higher in the coming months.
Synthetix offers a revolutionary product in the market by offering synthetic assets (currency) pegged to the value of real assets. This will see the Synthetix website provide value for years to investors who directly hold SNX.
The future price prediction of SNX is uncertain, as it will depend on the adoption and success of the Synthetix platform in the DeFi market. However, with its strong potential for disruption and positive long-term outlook from market experts, SNX might potentially see steady growth in the coming years. It is important to conduct your own research and analysis before investing in SNX or any digital asset.
Over the last 30 days, Synthetix had 19/30 (63%) green days. According to our historical data, it is currently profitable to invest in Synthetix. The price of Synthetix decreased by -55.43% in the last 1 year, while the coin’s 3-year performance is 116.46%.
According to our Synthetix forecast for 2032, the digital asset might reach a maximum price of $93.37. The continued growth does not reflect the future of Synthetix. If a Synth loses its peg to assets, the entire platform will come down. The SNX forecasted price averages $80.82, and the minimum value is $78.55 towards the end of 2032. This is not investment advice and is meant only to be a resource as you DYOR.
Be sure to read more of our Investing Guides and Price Predictions before making an investment decision.
