Current SNX Price Overview
₹237.75
24h Change: +6.71% (₹14.95)
Last Updated: 20 July 2023
Key Metrics
| Metric | Value |
|---|---|
| 24h Price Range | ₹222.15 – ₹257.27 |
| Market Cap | ₹76,30,15,71,105 |
| 24h Trading Volume | ₹11,79,91,46,894 |
| Circulating Supply | 32,08,30,118.13 SNX |
| Max Supply | 32,15,54,026.08 SNX |
👉 Track SNX price in real-time
Historical Performance
| Date | Price (INR) | Volume (INR) | Market Cap (INR) |
|---|---|---|---|
| 19 July 2023 | ₹223.02 | ₹5,79,92,75,629 | ₹71,32,38,31,035 |
| 15 July 2023 | ₹231.04 | ₹12,06,93,65,762 | ₹73,68,00,17,719 |
| 14 July 2023 | ₹224.98 | ₹34,11,90,25,504 | ₹72,08,95,40,437 |
Understanding Synthetix Network (SNX)
Synthetix Network is a decentralized finance (DeFi) protocol enabling synthetic asset trading. SNX tokens collateralize synthetic assets (synths) and reward stakers with fees.
Core Features:
- Synthetic Assets: Trade crypto, fiat, and commodities without direct ownership.
- Staking Rewards: Earn passive income by staking SNX.
- Decentralized Governance: SNX holders vote on protocol upgrades.
FAQs About Synthetix Network (SNX)
1. What drives SNX price fluctuations?
SNX prices react to:
- DeFi adoption rates
- Staking yield changes
- Ethereum network gas fees
- Competitor protocol developments
2. How is Synthetix different from traditional derivatives?
Unlike centralized platforms, Synthetix:
- Requires no KYC
- Uses crypto-backed collateral (SNX)
- Offers 24/7 global access
👉 Explore DeFi staking opportunities
3. Where can I securely store SNX tokens?
Recommended wallets:
- Hardware: Ledger, Trezor
- Web: MetaMask, Coinbase Wallet
- Mobile: Trust Wallet
4. What’s Synthetix’s inflation model?
New SNX tokens are minted as staking rewards, with annual inflation adjusted via governance votes (currently ~2.5%).
Investment Considerations
- Volatility: SNX can swing ±15% daily—only invest what you can afford to lose.
- Utility Value: Demand correlates with synthetic asset trading volume.
- Regulatory Risks: Evolving DeFi regulations may impact protocol functionality.
For the latest crypto insights, always verify data across multiple exchanges.
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