SNX to NGN Price Today
SNX to NGN
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| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.35% | -2.01% | -0.39% | 3.73% | 7.08% | 0.81% |
Compare Synthetix with other crypto
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.35% | -2.01% | -0.39% | 3.73% | 7.08% | 0.81% |
SNX to NGN
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SNX
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Synthetix Risk Analysis
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Has the price increased over the past year?
Price has decreased by -66.48% in the last 1 year.
Is it trading above the 200-day simple moving average(SMA)?
Synthetix is currently trading -34.14% below the 200-Day SMA which is $1.93.
Is Synthetix currently overbought zone by (RSI)?
The 14-Day Relative Strength Index (RSI) is at 45.73 which indicates that the cryptocurrency is currently NEUTRAL and may trade sideways.
Have the last 30 trading days been positive?
The number of green days in the last 30 days is 12 which is 40%.
Is the total supply of Synthetix higher than the circulating supply?
The circulating supply has yet to be published.
The liquidity based on market capitalization to volume ratio should be sufficient.
Has high liquidity with 0.03003 volume to market cap ratio. The current market cap is ₦680.44B while the 24-hour volume is ₦20.43B
Synthetix (SNX) Markets
Synthetix Quarterly Returns
| Year | Q1 | Q2 | Q3 | Q4 | Total |
|---|---|---|---|---|---|
| 2018 | - | - | - | -36.25% | -36.25% |
| 2019 | 21.20% | 491.78% | 120.77% | 66.00% | 2528.49% |
| 2020 | -38.76% | 222.84% | 142.94% | 52.60% | 632.92% |
| 2021 | 143.86% | -58.57% | 30.88% | -42.67% | -24.20% |
| 2022 | 24.54% | -66.63% | 4.17% | -39.45% | -73.79% |
| 2023 | 77.74% | -10.24% | -9.22% | 86.22% | 169.69% |
| 2024 | 20.16% | -57.23% | -19.51% | ||
| Average | 41.46% | 86.99% | 45.00% | 20.45% | 532.81% |
Introduction to Synthetix
Synthetic assets can be issued on Ethereum. Synthetic assets can be thought of as derivative products. Getting exposure to the purchase without owning it will be possible with it.
What is Synthetix? (SNX)
Synthetic assets, or Synths, can include a variety of assets. It applies to anything with a reliable price feed. Cryptocurrencies such as Bitcoin and Ethereum, commodities such as gold and silver, and fiat currencies such as USD are some examples. Traders can even use inverse Synths to gain short exposure or hedge existing holdings and yield farming positions, allowing them quick exposure on inverse assets.
A trader can access assets that aren't available on the blockchain using Synthetix. In addition to creating indexes, Synthetix allows users to create baskets of multiple DeFi assets that track their prices.
Primary features of Synthetix Network Token
- An asset insurance protocol based on blockchain technology.
- Users can create synthetic decentralized assets and exchange them using Synthetix (SNX), an Ethereum-based project.
- Funds from traders can be used to reward other components of the Synthetix ecosystem.
- Among the DAOs that took over in 2020 are ProtocolDAO, GrantsDAO, and SynthetixDAO.
How Does Synthetix Network Token Work?
- Multiple methods are available for trading Synths. Kwenta (a dApp that allows users to sell on the Synthetix network) is one dApp that will enable users to purchase ETH and then swap it for sUSD. SUSD can be traded for other Synths, such as sBTC, using both methods.
- To trade SNX tokens on Kwenta, you must purchase them on an exchange, stake them on Mintr, and create synths while selling them.
A maximum collateralization ratio of 750% backs every Synth created on Synthetix in the form of staking SNX tokens (and is subject to change). When a balance on Mintr reaches a certain threshold, a user must mint sUSD individually or burn sUSD manually.
Through staking SNX and minting sUSD, users are essentially taking on debt, which reflects the amount of sUSD that has to be burned to un-stake their SNX. This, in turn, represents a portion of all of the debt on Synthetix and is denominated in sUSDT, and that debt increases or decreases in accordance with the supply of Synths and their exchange rates.
Who Are the Founders of Synthetix Network Tokens?
Synthetix, a protocol to trade derivatives on Ethereum, was founded by Kain Warwick, who currently leads the team developing the protocol.
The biggest cryptocurrency platform in Australia is Blueshyft, which he built in the past. In addition, he served as a non-executive director of the company.
Also, Warwick was an Advisory Council Member at Blockchain Australia and a member of The Burger Collective's Advisory Board before joining Blockchain Australia.
Initial Coin Offerings (ICOs) and the sale of SNX, their native token, raised $30 million in early 2018 through Havven's Initial Coin Offering (ICO).
- Additionally, Justin Moses and Clinton Ennis are vital members of the Synthetix core team.
Moses has worked on Synthetix since its inception and is the company's CTO. As Director of Engineering at MongoDB, Moses was before joining Synthetix. His expertise lies in the design and deployment of large-scale systems.
Clint Ennis, Synthetix's Senior Architect, has more than 18 years of software engineering experience. Formerly an architect lead at JPMorgan Chase, Ennis has a background in traditional finance.
How to use Synthetix Network Token?
Stake SNX: One way to build new Synths is to stake SNX. Staking can lead to prizes, rewards, and a larger holding.
Trade Synths: SNX coins are used for exchanging Synths between users.
- Trade SNX: SNX can be traded and invested by investors and traders.
Why Should I use SNX?
A decentralized exchange or synthetic assets may be more popular in cryptocurrency in the future, so you may want to use SNX.
Further, if you buy SNX and stake it, you'll gain rewards, including a percentage of network trade fees and newly minted SNX.
Also, the platform may appeal to traders because of its variety of synthesizers. Synthetix will likely continue to be used by crypto asset traders due to the SNX token.
Synthetix Token Metrics
| Token Name | Synthetix Network
|
| Ticker | SNK |
| 24h Volume | $ 75.83 million ($ 75,829,940) |
| Market cap | $ 714.83 million ($ 714,833,080) |
| Fully diluted market cap | $ 212,461 |
| Circulating supply | 314.09 million SNX (314,089,132.09 SNX) |
| Total supply | 314.09 million SNX (314,089,132.10 SNX) |
| Max supply | 93,353.00 SNX |
| Ethereum contract address | 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f |
| Issuance blockchains | Ethereum, Polygon |
Where is the Synthetix (SNX) coin available?
Synthetix (SNX) is available on a variety of cryptocurrency exchanges. The list of quick, secure, and easy exchanges is listed below.
- Binance
- Coinbase
- Kucoin
- Kraken
You can check the whole list of exchanges here to buy Synthetix (SNX)
How Much is a One Synthetix Worth Now?
The current price of the Synthetix(SNX) is ₦2,075.96, with a current market cap ₦680,435,666,536.53.
What is the Synthetix Stock Symbol or Ticker?
SNX is a ticker symbol of the Synthetix.
How Many SNX Coins Are There in Circulation?
At the movement,327.77M Synthetix tokens are already in the market out of 328.19M SNX.
How Can I Invest in Synthetix?
There are many options for buying crypto, and Synthetix can be purchased from many crypto exchanges at any time.Just visit DigitalCoinPrice to get the world's best crypto exchanges list and buy Synthetix. It's a quick, easy, and secure way to buy Synthetix(SNX).
Is Synthetix a Stablecoin?
No, It is not a stablecoin.
What Was the Lowest Price for Synthetix?
Synthetix had an all-time low of ₦49.45.
What Was the Highest Price for Synthetix?
Synthetix had an all-time high of ₦43,673.01.
Synthetix Price Prediction
The current Synthetix to NGN price is ₦2,075.96. In the last 24 hours, SNX to NGN price has gone up by -2.01%. The cryptocurrency market is volatile and never predicts its price movement, and it requires expertise and knowledge, and it is such a problematic take. Let's look at what our experts and market analysts discuss regarding future Synthetix price prediction.
Portfolio Tracker
Using a crypto portfolio tracker has become more convenient than it was in the past. This tool enables you to keep track of your crypto assets. As an example, you have acquired Synthetix at different prices, which makes it difficult to identify the individual purchasing prices. A portfolio tracker lets you identify profit and loss. Also organise it.
Coin Converter
By exchanging SNX against fiat currencies (such as the U.S. dollar or Japanese yen) or using them as payment for goods and services, Synthetix can be earned or received in various ways. SNX considers as the most popular cryptocurrency, and on the other side, USD is the most demanding fiat currency globally. Today, almost every fiat currency has been paired with the SNX, including SNX to PHP, SNX to INR, SNX to NGN, SNX to THB, SNX to CAD, SNX to PKR, SNX to IDR , SNX to EUR , SNX to AUD , SNX to BDT and many more in the queue. The given all are fiat currency and the most widespread pairs in the market.
Would you like to know how many cryptocurrencies 1 SNX is equivalent to other cryptocurrencies or vice versa? With Digitalcoinprice's Cryptocurrency Converter Calculator, you can easily convert cryptocurrency pairs. You can convert and check any crypto pairs like SNX to BTC, SNX to GRASS, SNX to SOL, SNX to SUI, SNX to DOGE, SNX to ETH, SNX to PEPE, SNX to VIRTUAL .
SNX to NGN price today is ₦2,075.96, which is Down by -2.01% over the last 24 hours. There has been an hourly Rise by 0.35%. Synthetix's market cap currently sits at ₦680,435,666,536.53 NGN, holding up for a market cap rank at #130. The volume were at ₦20,434,647,748.99 NGN Synthetix ranks no 130 in the market capitalization of Synthetix is at ₦680,435,666,536.53 and its volume for 24 hours is ₦20,434,647,748.99. Synthetix are under circulation, with total supply of 328.19M and the Maximum supply of 0.
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SNX to NGN Price Statistics
Live Synthetix Price in NGN
| SNX to NGN | ₦2,075.96 |
| Percentage Change ( 24h ) | ▼2.01% ₦71.29 |
| 24h High / Low | ₦2,129.02 / ₦2,057.73 |
| Trading Volume 24h | ₦20,434,647,748.99 |
| Volume / Market Cap | 0.03003 |
| Market Dominance | 0.02% |
| Market Rank | 130 |
| Market Cap | ₦680,435,666,536.53 |
| Fully Diluted Market Cap | ₦681,315,682,379.82 |
| All Time High | ₦43,673.01 ▲7115.45% |
| All Time Low | ₦49.45 ▲6372248.62% |
| Circulating Supply | 327,769,196 SNX |
| Total Supply | 328,193,104 SNX |
| Max Supply | - |