This post was most recently updated on July 20th, 2020
In the middle of 2019, where many of the cryptos were struggling to maintain their price during the market crash there was one crypto that wasn’t got affected by this. But during this period of time, Synthetix Network Token started climbing the mountain of success and surprised everyone with their performance. Also if we look at the current growth rate of this token then we can say that it has gone to the next level. In the last four months, its price went from $0.361105 USD to $2.77USD with a growth rate of almost 667% which is phenomenal.
At the time of writing Synthetix Network Token is at 38th rank in the coin market cap listing with the price of $3.11 USD and a market cap of $270,151,633 USD. As this crypto is looking very much promising so today we are going to discuss more this token and will try to predict its future. So after going through the article you will get an idea of whether to invest in this token or not.
- 1 What is the Synthetix Network Token (SNX)?
- 2 Synthetix Network Token (SNX) Price Prediction 2020
- 3 Synthetix Network Token (SNX) Price Prediction 2021
- 4 Synthetix Network Token (SNX) Price Prediction 2025
- 5 Synthetix Network Token (SNX) Price Future Forecast
- 6 You May Also Like: Crypterium Price Prediction 2020, 2021, 2025 CRPT Realistic Future Forecast
- 7 Is Synthetix Network Token (SNX) a Good Investment Option?
- 8 Where and How to Buy a Synthetix Network Token (SNX)?
- 9 Where to Synthetix Network Token (SNX)?
What is the Synthetix Network Token (SNX)?
Synthetix Network is a derivatives liquidity protocol which allows its users to create on-chain synthetic assets and trade them on the Ethereum Platform. This platform is very complicated to understand so in simple words we can say, On this platform, the users can create a digital copy of any assets like, Cryptocurrencies, fiat currency, and few precious metals. Also, they can create a synthetix asset of any real-world asset. Each of these Synthetic assets is an ERC20 token and the actual price of that asset is connected to the value of its synthetic asset.
Let’s consider you have created the Synthetic asset for the US dollar, which will be known as sUSD, so if the price of USD falls then the price of sUSD will also fall and vice versa. In short, the synthetic asset price will always follow the actual price of the asset. Once these assets are created then users can also trade these synthetic assets to gain profit
SNX was launched in 2017 and at that time the name of this project was Havven (HAV) which was changed afterward to Synthetic Network Token. Synthetix has its exchange platform but they are not promoting this platform that much.
|Cryptocurrency Name||Synthetix Network Token|
|Market Cap||$248,847,449 USD|
|Total Supply||190,075,446 SNX|
|Highest Market Price||$3.18 USD|
|Lowest Market Price||$0.032420 USD|
Synthetix Network Token (SNX) Price Prediction 2020
The first quarter of 2020 was full of ups and downs for SNX tokens as its prices were continuously fluctuating and started showing downwards tendency. At the start of 2020, the price of SNX token was at $1.24 and till the mid of March, its price was reached at $0.382245. But suddenly it gets a boost and since then it’s continuously showing upward trends except on a few occasions.
On 1st June 2020, the price of SNX token was $0.799767USD and just within 5 weeks its price was hiked by 297% and reached $3.18 (at the time of writing). This sudden spike surprised everyone and also it crosses the prediction made by many market experts. So now investors have started taking this token seriously.
If we look at the current market scenario Synthetix is looking at one of the strongest projects and this is because of SNX team is continuously updating the platform. Along with that, they are adding new features to their platform every time. As there are lots of new updates are coming in 2020 we can expect that SNX price Prediction will get hiked and may cross the $4 mark till the end of this year.
|Month & Year||SNX Price Prediction|
|August 2020||$2.78 USD|
|September 2020||$3.13 USD|
|October 2020||$3.58 USD|
|November 2020||$4.08 USD|
|December 2020||$4.78 USD|
Synthetix Network Token (SNX) Price Prediction 2021
Right now, the Synthetix network is one of the biggest and strongest Decentralized Finance projects available in the crypto market. Also SNX token ranks at the 3rd position on the defipulse website and the ranking is given based on USD locked within that ecosystem. So form this stat we will get an idea that how popular this project is and this token is a very good option for the long term investment it you go for a mint. In the upcoming year if investors are willing to invest in the stable coin then SNX token will be their first choice. As per the market experts, SNX price prediction this token will cross $5 mark till the end of 2021.
|Month & Year||SNX Price Prediction|
|January 2021||$4.46 USD|
|February 2021||$4.18 USD|
|March 2021||$3.63 USD|
|April 2021||$3.17 USD|
|June 2021||$4.83 USD|
|July 2021||$5.02 USD|
|August 2021||$5.36 USD|
|September 2021||$5.81 USD|
|October 2021||$6.07 USD|
|November 2021||$6.28 USD|
|December 2021||$6.40 USD|
Synthetix Network Token (SNX) Price Prediction 2025
Synthetix Network ranks on the third position in the DeFi projects and also it is a very popular project in the crypto world. The reason behind this success is that SNX token users get rewards for staking their token for a long time. In recent times there are many AI-based cryptocurrencies that have launched in the crypto market so these newly launched AI-based cryptos may give competition to SNX token. Market experts are predicting that SNX Price Prediction will cross $15 mark till the end of the 2025 year.
Synthetix Network Token (SNX) Price Future Forecast
According to the crypto experts, Synthetix Network Token will be a profitable investment for the long term. Also if we look at the performance of SNX token in recent time then you will get a clear idea of its future growth. But as we all know the crypto market is volatile and it’s really difficult to predict the future of any cryptocurrency. At the end of 2020, this coin will reach $4.80 and at the end of 2021, this may touch to $7 mark.
You May Also Like: Crypterium Price Prediction 2020, 2021, 2025 CRPT Realistic Future Forecast
Is Synthetix Network Token (SNX) a Good Investment Option?
Most of the crypto experts will recommend this token as an investment option as this coin is much stable and showing a continuous upward tendency for the last few months. But at this moment the price of this token is quite high so now you have to wait to drop its price ance then invest. Or you can also get your Synthetix tokens right now and wait for good returns in the future. This project is focusing on unstoppable growth and this is the reason behind their success.
Where and How to Buy a Synthetix Network Token (SNX)?
We all know that to purchase any cryptocurrency you need to have Ethereum or Bitcoin. If you are now aware of this ting just follow the steps to buy SNX token within a few minutes. Here we have listed some of the best and trusted exchange platform where you can exchange your ETH or BTC with SNX.
Step 1– The first and foremost requirement to buy Synthetix Network Token is that you must have Bitcoin or Ethereum if you have it then you can skip this step and move on to the next step. Otherwise, you have to login or sign up to coinbase or coinsquare and purchase Bitcoin or Ethereum.
Step 2 – Now as you have BTC, USDT, or ETH, it’s time to exchange them with SNX token on the exchange platforms. At this moment SNX token is listed on below platforms
Step 3- Now it’s time to exchange your BTC, ETH, or USDT with SNX token on any of the exchange platforms.
Where to Synthetix Network Token (SNX)?
Now as we all know that SNX token is operating on Ethereum Blockchain so this token can be stored on any kind of wallets. You can store this token on a hardware wallet or software wallet it your choice. So here we are listing some of the popular wallets recommended by investors and traders.
- Trust Wallet
- Atomic Wallet
- MyEther Wallet