SNX PRICE PREDICTION 2024-2033: IS SNX A GOOD INVESTMENT?

SNX Price Prediction 2024-2033

• Synthetix Price Prediction 2024 – up to $4.22
• Synthetix Price Prediction 2027 – up to $13.8
• Synthetix Price Prediction 2030 – up to $39.34
• Synthetix Price Prediction 2033- up to $128.40

Synthetix is developing a decentralized liquidity provisioning protocol that is accessible to various platforms. It boasts substantial liquidity and minimal fees, making it an attractive backend for numerous protocols on both Optimism and Ethereum. Within the Synthetix ecosystem, platforms like Kwenta (offering Spot and Futures), Lyra (for Options trading), Polynomial (Automated Options), and 1inch & Curve (for Atomic Swaps) leverage Synthetix liquidity to enhance their services.

SNX’s value worth is subject to market dynamics and can fluctuate based on demand, supply, and broader cryptocurrency market trends. As of [current date], SNX is trading at [current price] per token.

How much is SNX worth?

Today’s live Synthetix price is $2.753, with a 24-hour trading volume of $40,928,290, an increase of 9.37% over the last 24 hours. Synthetix is down 5.93% in the last 24 hours. The current CoinMarketCap ranking is #85. The coin currently has a live market cap of $895,727,100 USD. It has a circulating supply of 327,769,196 SNX coins and the max. supply is not available.

Synthetix price analysis: Will the bears dominate the market?

TL;DR Breakdown

• Synthetix price analysis shows an downtrend today
• Support for SNX/USD is present at $2.454
• Resistance for SNX is present at $4.953

As of April 18, 2024, the 21-hour and 4-hour charts indicate a downward trend on Synthetix SNX. The bears have been taking over the market over the past few days, while the bulls have a slight exception. Due to the bearish swing, the coin dropped to $2.753.

SNX price analysis 1-day chart: Bearish momentum builds

The 1-day price chart of the SNX token displays a downward trend, indicating a bearish movement in the market. At its current price of $2.735, SNX finds itself in a dangerous position, with the chances of dropping further if the prevailing negative market sentiment persists.

The extensively expanding volatility indicates a bearish movement in the near future. Due to the rising volatility, the Bollinger bands have switched, with the lower Bollinger Bands at $2.452 and the upper Bollinger Bands at $4.953. The RSI value is in oversold territory, confirming the bearish wave, as it stands at 30.82.

SNX 4-hour price chart overview: SNX bulls dominate once again

Over the last 4-hours, the SNX analysis has supported the crypto buyers. The bulls are now taking over the market once more as a strong bullish momentum is seen. Due to the bullish trend over the last four hours, the SNX price has surged to $2.753.

The decreasing volatility indicates a bullish momentum for the upcoming hours. With the subsiding changes in volatility, the Bollinger Bands have shifted with higher Bollinger Bands to a high of $3.154 and the lower Bollinger Bands at $2.634. Additionally, the RSI shows a sharp bullish curve with its value up to 38.74.

Is Synthetix (SNX) a Good Investment?

Synthetix (SNX) emerges as a compelling investment opportunity due to its innovative protocol and potential for growth. As a decentralized synthetic asset platform, Synthetix enables the creation and trading of synthetic assets representing various real-world assets, including fiat currencies, commodities, and cryptocurrencies. Its unique approach to tokenizing assets offers users exposure to a wide array of assets without the need for intermediaries or liquidity providers.

Synthetix leverages a decentralized governance model to ensure community participation and protocol upgrades. Synthetix continues to expand its ecosystem and user base. Our Cryptopolitan Price Prediction section can offer valuable perspectives on SNX’s future value trajectory, aiding investors in their decision-making process.

Synthetix Recent News

Synthetix Founder Kain Warwick’s Initiative to Simplify DeFi Trading with Infinex

Synthetix founder Kain Warwick is revolutionizing DeFi with a new initiative, Infinex, aiming to simplify trading experiences akin to traditional exchanges. Despite the high expectations for Synthetix Perps v2, Warwick observed traders’ reluctance towards DeFi platforms. In response, Infinex promises a user-friendly interface, leveraging Synthetix Perps v3 capabilities while bypassing the complexities of DeFi transactions. Warwick’s pivot underscores his adaptability and commitment to innovation.

SNX Price Prediction 2024 – 2033

SNX Price Prediction by Cryptopolitan

Year	Minimum Price	Average Price	Maximum Price
2024	$3.63	$3.77	$4.22
2025	$5.38	$5.53	$6.51
2026	$7.89	$8.11	$9.37
2027	$11.12	$11.44	$13.8
2028	$15.57	$16.15	$18.94
2029	$22.36	$23.01	$27.05
2030	$34.17	$35.09	$39.34
2031	$49.58	$50.98	$58.87
2032	$72.03	$74.07	$86.19
2033	$110.37	$114.08	$128.40

SNX Price Prediction 2024 

Our SNX price prediction for 2024 is a maximum price of $4.22. The coin’s minimum price will be $3.63, and the average price will be $3.77. 

SNX Price Prediction 2025

According to our SNX price prediction for 2025, the maximum price is $6.51. The coin’s lowest price will be $5.38, and the average trading price of the coin is $5.53. 

SNX Price Prediction 2026

According to our SNX, the price prediction for 2026 is a maximum of $9.37. The minimum price the coin will have by the end of 2026 will be $7.89, while its average trading price will be $8.11. 

SNX Price Prediction 2027

Our SNX price prediction for 2027 is a maximum price of $13.8 with a minimum price of $11.12. We also expect the coin’s average trading price to be $11.44.

SNX Price Prediction 2028

According to our SNX price prediction for 2028, we expect a maximum price of $18.94. The minimum price of the coin by 2028 will be $15.57; the average trading price is forecasted to be $16.15.

SNX Price Prediction 2029

According to our SNX price prediction for 2029, there is a maximum price expectation of $27.05 with an average trading price of $23.01. The coin will have the lowest price at $22.36.

SNX Price Prediction 2030

Our SNX price prediction for 2030 is a maximum price of $39.34 with the coin’s lowest price at $34.17. The average trading price of the coin will be $35.09. 

SNX Price Prediction 2031

According to our SNX price prediction for 2031 is a maximum trading price of $58.87, with an average trading price of $50.98. The minimum price of the coin will be $49.58. 

SNX Price Prediction 2032

Our SNX price prediction 2032 is a maximum trading price of $86.19, with an average trading price of $74.07. The minimum price of the coin will be $72.03.

SNX Price Prediction 2033

According to our SNX price prediction for 2033, it could be a maximum price of $128.40. The minimum price is $110.37, and the average trading price of the coin will be $114.08. 

SNX Price Prediction by Wallet Investor

Based on Wallet Investor’s analysis of SNX’s price, it appears primed for substantial growth in the near term. They predict its value to potentially reach $3.249 within the span of a year, indicating a promising upward trajectory in the short run.

Looking beyond the immediate future, their five-year forecast paints an even more optimistic picture, suggesting a price target of $4.277. These projections not only convey a positive outlook for SNX but also underscore its potential attractiveness to investors and enthusiasts keen on closely tracking its progress.

SNX Price Prediction by CoinCodex

CoinCodex’s price forecast for SNX is brimming with promise. Their prediction indicates that by the conclusion of 2025, the cryptocurrency could soar to a peak trading price of $10.82.

Delving deeper into the future, specifically to 2029, the outlook becomes even more upbeat. According to CoinCodex’s prediction chart, the price of SNX is anticipated to rise to $24.48. These projections offer a positive outlook for investors and SNX enthusiasts, hinting at substantial potential gains in the coming years.

SNX Price Prediction by DigitalCoinPrice

According to Digitalcoinprice’s SNX price forecast, SNX is expected in 2025, to trade an average price of $6.90, with a potential high of $7.17 and a low of $6.02.

By 2027, SNX may see an average price of $12.45, with a maximum price of $12.79 and a minimum of $10.78.

Looking further ahead to 2030, SNX is forecasted to have an average trading price of $20.02, with a potential high of $20.99 and a low of $18.90.

SNX Price Prediction by Market Expert

CoinBlast, a noted market expert, has made a compelling prediction regarding the trajectory of SNX, suggesting that it will surge to $65 by the year’s end. This forecast is underpinned by an expectation of bullish momentum within the market, signaling a positive sentiment towards SNX’s prospects.

Moreover, there is a notable assertion that the price may surpass the $65 mark, indicating a heightened level of optimism regarding its performance. This prediction encapsulates the anticipation and potential for significant growth in the value of SNX, reflecting the dynamic nature of the cryptocurrency market and the evolving investor sentiment surrounding it.

SNX Overview

Popularity	#85	Market Cap	$921,496,910
Price Change (24 hours)	-5.93%	Trading Volume (24 hours)	$42,922,334
Price change (7 days)	-27.85%	Circulating Supply	327,769,196 SNX
All-time low (Jan 05, 2019)	$0.03258	All-time high (Feb 14, 2021)	$28.77
From ATL	+8529.91%	From ATH	-90.23%

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 dropping to as low as $1.5 in 2023. It later began correcting and is trading at the $2.8 mark in 2024.

Source: coinmarketcap

More on the 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.

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’s 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 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.

1. First, you need to buy Synthetix and connect to a web3 wallet.
2. Visit Mintr, the portal interface for minting and managing Synths.
3. Connect your web3 wallet to Mintr.
4. Click ‘Mint’ and choose what type of Synth you want to mint.
5. Remember to maintain the collateralization ratio.
6. Input the number of Synths you want to mint.
7. Click ‘Mint Now’.
8. 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.

Conclusion 

The Synthetix (SNX) coin has bearish momentum, nearing the $4.88 mark, as bulls assert control over the market. Today’s price analysis reveals a clear uptrend, experiencing a lateral movement throughout the trading session. However, recent developments suggest a shift towards a bullish sentiment, with the price nearing its resistance level at $5.261. 

Analyzing the 1-day chart, SNX demonstrates a significant plunge in bearish momentum, exceeding initial expectations and reaching $4.88. However, caution is warranted as the Relative Strength Index (RSI) indicates a moderately overbought condition, potentially signaling a weakening of bullish momentum. 

The Bollinger Bands also depict a narrow trading range, with resistance at $5.26 and support at $3.621, suggesting a period of consolidation and a potential price reversal. Traders are advised to closely monitor price action for confirmation of a breakout or breakdown to determine the next directional bias.

Similarly, the 4-hour chart reflects a bearish sentiment, with SNX stabilizing at $3.982, indicating a prevailing downward trajectory despite minor fluctuations. With the RSI hovering in slightly overbought territory and the Bollinger Bands tightening, traders should exercise caution and consider additional technical and fundamental factors when trading.

In recent news, SNX surged alongside other DEX tokens following the announcement of a major governance proposal by Uniswap, the largest DEX in the industry. This proposal has the potential to reshape decentralized networks within the industry, contributing to the strong performance of SNX and other DeFi tokens like AAVE and Lido DAO amidst the broader rally in the DEX sector. As SNX continues to navigate these developments, traders should remain vigilant and adapt their strategies accordingly.