Synthetix
SNX/USD
SNX Price today
Index
SNX price USD today
SNX/USD Conversion Tables
Indicators
Information about Synthetix (SNX)
Synthetix is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. Synthetix gives users access to a wide range of crypto and non-crypto assets. Specifically, this protocol provides users with access to highly liquid synthetic assets. It helps users track and profit from those assets without requiring the user to hold that property.
The Synthetix platform has helped expand the crypto space by introducing non-blockchain assets that access a more robust financial market.
SNX is a token that works within the Synthetix platform and is used as collateral to make it easier for users to buy/own other synthetic assets available on Synthetix. In addition, SNX is also used for the following purposes:
- Stake: Users can participate in staking assets and receive rewards paid in SNX.
- Shared transaction fees are generated on some operations of the Synthetix platform.
- Used to lock up as collateral to issue synthetic assets to the market.
- Used to pay transaction fees on the Synthetix DEX exchange.
News
Solana leads 2025 DEX market with 48% volume due to low fees and fast transactions. Ethereum attempts to maintain relevance through upgrades. Asia eclipses North America as the hub of DEX innovation, influenced by regulatory flexibility and institutional interest.
Liquidity remains a significant challenge for DEX platforms, impacting growth. The report forecasts that successful DEXs will balance interests of all stakeholders and attract liquidity providers to enhance trading experiences.
Synthetix has moved its perps markets on Arbitrum to a close-only mode due to strategic consolidation on Coinbase’s Base network. Arbitrum’s USDx, key for trading, will now be managed by Synthetix Treasury, which is purchasing USDx to ensure liquidity and stability for trading activities.
Synthetix recorded a monthly trading volume of 274 million USD on Base, overshadowing Arbitrum’s 86.2 million USD. The transition involves integrating ecosystem projects into a native trading platform, aligning with its new product strategy to enhance operations beyond being just a platform.
Mobile app enhances DeFi trading access: Mass and Synthetix’s new app combines decentralized finance with user-friendly features typical of centralized exchanges, letting users trade perpetual futures with significant leverage, enhancing participation for a wider audience beyond the crypto-native community.
User-friendly features improve trading experience: The app provides easy onboarding via Apple and Google logins, integrated payment options, and global availability aimed at regions like the United States and Europe, making it accessible and appealing to new markets.
Synthetix’s governance overhaul boosts efficiency: Following a governance revamp in October, aimed at improving operational efficiency, Synthetix has made strategic acquisitions like Kwenta and TLX to strengthen its product offerings and enhance its market presence.
Synthetix’s bullish momentum: Synthetix has recently broken free from a three-year price constraint, reaching highs of 3.67 USD. Currently trading at 2.80 USD, it shows potential for a 32% increase, with strong support at 2.43 USD.
Terra Classic’s recovery indicators: Terra Classic also exhibits strong recovery signs after bouncing off its support level of 0.0001150 USD. Trading now at 0.0001277 USD, it could retest its peak, indicating an upside potential of 41%.
People also own
