Overview of Synthetix (SNX)
Synthetix (SNX) is a decentralized finance (DeFi) protocol that enables the creation of synthetic assets, offering exposure to real-world assets without requiring direct ownership. The SNX token is integral to the platform’s collateralization and staking mechanisms.
Current SNX/USD Market Data
- Previous Close: $0.56
- Open Price: $0.55
- Day’s Range: $0.55–$0.57
- Month Range: $0.482–$0.745
👉 Track real-time SNX price movements
Key Synthetix (SNX) Statistics
| Metric | Value |
|---|---|
| All-Time High | $0.032577 (Jan 05, 2019) |
| All-Time Low | +1618.97% from ATH |
| Market Cap | $190,478,209.32 |
| 24h Volume | $9,534,549.06 (-16.4%) |
| Circulating Supply | 343,466,217 SNX |
SNX Price Forecast
Short-Term Predictions (Next 7 Days)
| Date | Low | High | Avg |
|---|---|---|---|
| 03/07 | $0.542 | $0.592 | $0.567 |
| 04/07 | $0.540 | $0.542 | $0.541 |
| 05/07 | $0.543 | $0.551 | $0.547 |
| 06/07 | $0.551 | $0.577 | $0.564 |
Monthly Outlook (July 2024)
| Week | Low | High | Avg |
|---|---|---|---|
| Week 1 | $0.476 | $0.548 | $0.512 |
| Week 2 | $0.443 | $0.571 | $0.507 |
| Week 3 | $0.334 | $0.471 | $0.4025 |
👉 Explore advanced trading strategies for SNX
Technical Analysis
Traders Union’s model combines moving averages and indicators:
- Moving Averages: Sell (8 signals) vs. Buy (2).
- Indicators: Sell (3 signals) vs. Buy (2).
Recommendation:
– Short-term (15m–2h): Sell.
– Long-term (4h–1w): Neutral to Sell.
FAQs
1. Is SNX a good investment in 2024?
While SNX shows volatility, its DeFi utility and staking rewards offer potential. Monitor market trends and technical signals before committing.
2. What drives SNX price fluctuations?
Factors include DeFi adoption, Ethereum network activity, and broader cryptocurrency market sentiment.
3. Where can I trade SNX securely?
Reputable platforms like OKX provide secure SNX/USD trading pairs with liquidity.
Final Thoughts
Synthetix remains a high-risk, high-reward asset. Use tools like stop-loss orders and diversify your portfolio to mitigate risks.
Disclaimer: Predictions are based on historical data and algorithms; actual results may vary.