As the pioneer of DeFi synthetic assets, Synthetix enables users to trade stocks, commodities, and other synthetic assets without physical ownership through SNX token collateralization.
Founded by Kain Warwick in 2017 (initially named Havven), the protocol rebranded to Synthetix in 2018. Its core value lies in three pillars: collateralized synthetic asset generation (e.g., sUSD), governance voting rights, and trading fee dividends (recent proposals increased the allocation to 80%).
SNX Market Performance and Token Distribution
As of July 1, 2025, SNX trades at $0.569**, with a 24-hour decline of **2.86%** and a market cap of **$196M, ranking #185 among cryptocurrencies.
Key trends:
- 30-day cumulative drop of 21% due to sUSD depegging (currently $0.948).
- All-time high: $28.77 (February 2021), representing a 97.58% decline.
- From its January 2019 low ($0.0325), SNX surged 2,038%.
Token Allocation:
- Circulating supply: 343.47M SNX.
- Initial distribution: 20% team/advisors, 3% marketing, 5% partners, remainder via public sales/staking.
Multi-Layered Price Forecast
Short-Term (2025)
- Average target: $2.15.
- Potential range: $2.52–$4.37 (contingent on Layer2 upgrades reducing fees by 90%).
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Mid-Term (2028)
- Technical breakout above $1.82 resistance could trigger a bull cycle.
- Projected mean: $9.44** (high: **$10.07).
Long-Term (2031)
- With expanded synthetic asset offerings (>50 types), price may reach $15.11–$16.37 (2,200% upside).
Risk Alert: SNX-BTC correlation coefficient (0.72) heightens exposure to systemic market downturns.
Three Growth Catalysts
1. Technical Efficiency Upgrades
- Polygon zkEVM integration (testing phase) aims to slash transaction costs by 90%.
2. Cross-Chain Expansion & Asset Diversity
- Polkadot interoperability and new commodities (gold, crude oil) to broaden asset coverage from 30 to 50+ types by Q3 2025.
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3. Regulatory Compliance
- Transparency enhancements via on-chain voting and insurance funds to mitigate liquidation risks.
Critical Factors:
- Success hinges on V3 permissionless protocol rollout and sUSD stability mechanism fixes.
FAQ
Q: What drives SNX’s price volatility?
A: Primarily sUSD stability, BTC market correlation, and protocol upgrade timelines.
Q: How does staking SNX generate yield?
A: Stakers earn 80% of trading fees (post-recent governance vote).
Q: Is SNX a long-term hold?
A: Yes, if synthetic asset adoption grows as projected (40% annual sector growth).
Q: When will V3 launch?
A: Targeted for late 2025, pending audit results.
Disclaimer: This content constitutes neither investment advice nor a solicitation. Independent professional consultation is recommended.