SNX is the token of the Synthetix protocol, not company equity. Synthetix provides liquidity and infrastructure for on-chain derivatives; SNX can be used as collateral in related mechanisms. Holding SNX does not automatically constitute equity, dividend rights, or redemption rights at face value.

Synthetix Price Today, Live Market & Historical Trend Chart

Q: What is the relationship between SNX and sUSD?

SNX can be locked as collateral to support sUSD minting, but this is not a simple exchange. Collateral providers establish a position that includes both SNX collateral assets and a protocol debt relationship; changes in the SNX price, debt value, and protocol rules can all affect the position's status. Holding SNX and using SNX as collateral to mint sUSD are different states with different risks.

Q: Will SNX continue to be issued in the same way as before?

SNX is no longer continuously issued under its previous regular inflation arrangement. After SIP-2043 was implemented, Synthetix ended the mechanism of incentivizing collateral participants with newly issued SNX. The end of inflation does not mean that all tokens are immediately tradable, nor does it guarantee price; locking, migration, burning, and market trading can still affect different supply measures.

Q: How do SNX buybacks and burns work?

The buyback-and-burn path in the Andromeda release notes is as follows: designated Base fee revenue is used to purchase SNX, and the acquired tokens are then burned, removing that portion from circulation. It is not a direct distribution of proceeds to every holder, and its scale depends on actual revenue and applicable rules. The 2026 roadmap mentions trading revenue for sUSD and SNX buybacks; this should be treated as a roadmap arrangement and must not be described as already completed or permanently unchanged.

Q: What does Synthetix V3 mean for SNX?

V3 is Synthetix's version evolving toward a more modular collateral and liquidity architecture; the key point is that SNX continues to be used in the migration from V2X to V3, rather than automatically creating an entirely new asset. The migration plan describes the protocol's direction; whether a user has migrated depends on the applicable process, the network where the assets are located, and contract or frontend support at the time, while legacy positions and eligibility do not necessarily continue under the same conditions.

Q: Does holding SNX automatically earn protocol fees?

Protocol-fee-related distributions are intended for liquidity providers or collateral participants that meet the rules, not for every SNX wallet balance unconditionally. Participation eligibility, distribution sources, and specific rules may change with protocol versions or governance decisions, so SNX should not be treated as traditional stock or a fixed-income product.

Q: Which mechanisms may affect SNX supply and demand?

SNX supply and demand must be transmitted through specific mechanisms: if collateralization and liquidity participation require acquiring and locking SNX, or if buyback rules are actually implemented, demand or tradable supply may change. However, increased protocol usage does not necessarily create buying pressure or price appreciation; revenue, rules, participation choices, market liquidity, and risk appetite all affect the outcome.

Rank 253

$0.2143

-$0.0006(-0.32%)

Market Cap

$124.85M

24h High

$0.2166

24h Low

$0.2097

24h Turnover

$29.78K

Total Supply

581.00M

Market Sentiment

Neutral

Synthetix (SNX) Price Performance

View Synthetix (SNX) Price Prediction

Synthetix (SNX) has a Last Price of $0.2143, with a 24h change of -0.32%. The 24h low is $0.2097, the 24h high is $0.2166, and the 24h turnover is $29.78K. The current market cap is approximately $124.85M, ranking 253 by market cap and accounting for 0.0024% of the total crypto market cap. The All-Time High is $28.5300 (⁦2021-02-13⁩), with a change from the All-Time High of -99.25%.

7 Days
-4.17%
Low
$0.2025
High
$0.2318
30 Days
-7.51%
Low
$0.2025
High
$0.2779
90 Days
+1.07%
Low
$0.1897
High
$0.2779
1 Year
-82.74%
Low
$0.1897
High
$1.3553

Fear & Greed Index

0 Extreme Fear100 Extreme Greed

Yesterday: 68; Greed
Last Week: 63; Greed
Last Month: 71; Greed

The Fear & Greed Index is currently 50/100, in the Normal zone; change from yesterday: -18, from last week: -13, and from last month: -21. Lower values indicate more fearful sentiment, while higher values indicate more greedy sentiment. This does not represent price change.

Why Did Synthetix (SNX) Fall in the Last 24 Hours?

SNX had returned to around its ICO-era price level, roughly eight years after its launch. This is a backdrop to sustained pressure, not a sudden catalyst on the day. Technical signals on 2026-10-22 leaned bearish: the 4-hour MACD showed a death cross and 15-minute moving averages were bearish. However, moving-average signals were mixed, while trend strength on the 4-hour and daily charts was weak, leaving the trend’s persistence uncertain. Hourly candle volume was low in the same snapshot, and large orders were concentrated on both sides of the order book. The larger bid wall could provide short-term support, while the ask wall could create overhead pressure. In a shallow order book, large orders can amplify price movements.

About Synthetix (SNX)

Synthetix (formerly known as havven) is designed for engineers to build decentralized and untrusted networks. The synthetix network token (SNx) token supports a variety of comprehensive assets, including legal currency linked to the US dollar, precious metals, indexes and even other cryptocurrencies.

Use Cases and Features

SNX is the protocol token of Synthetix, which provides liquidity and infrastructure for onchain derivatives. Users can use SNX as collateral to participate in the protocol and mint sUSD; this involves debt management rather than simply holding tokens for returns. V3 is intended to distribute revenue generated by trading fees to liquidity providers and support multiple forms of governance-approved collateral.

Supply and Issuance Mechanism

SNX’s supply mechanism has changed with governance decisions. SIP 2043 ended regular SNX inflation after it was implemented in 2023; the protocol later introduced a design to buy back and burn SNX using part of trading fees. Since governance can adjust protocol rules, SNX supply should not be assessed solely from historical issuance arrangements.

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How to Buy and Use Synthetix (SNX)

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Est.30-Day APR

0.57%

Synthetix (SNX) Basics & Market Insights

Fundamentals

SNX Tokenomics Explained: Staking Mechanism, Inflation Model, and Incentive StructureIntermediate

What Is Synthetix (SNX)? A Complete Guide to the Mechanism, Structure, and DeFi Ecosystem Behind the Synthetic Asset ProtocolBeginner

How Are Synthetix Synthetic Assets Created? An Analysis of SNX Collateral and the Minting MechanismIntermediate

Market Analysis

Synthetic Assets and Synthetix: Ushering in Next-Generation Crypto Derivatives Trading on GateOn the Gate trading page, the SNX token candlestick chart updates with the latest prices. Over the past month, trading volume behind this decentralized synthetic asset protocol has quietly increased by 30%.2026-04-01

Synthetix – Understanding Why SNX Rallied by 130% to Hit a 10-Month HighSynthetix (SNX) has shocked the market with a powerful comeback—rising nearly 130% in just 24 hours to reach a 10-month high.2026-04-01

Next Crypto to Explode: Synthetix (SNX) Volumes Rise by 800% Amid Perps DEX LaunchSynthetix (SNX) is once again capturing the attention of traders after an explosive surge in trading activity.2026-04-01

Frequently Asked Questions About Synthetix (SNX)

What is SNX?

What is the relationship between SNX and sUSD?

Will SNX continue to be issued in the same way as before?

How do SNX buybacks and burns work?

What does Synthetix V3 mean for SNX?

Does holding SNX automatically earn protocol fees?

Which mechanisms may affect SNX supply and demand?

Risk Disclosure

Cryptocurrencies are high-risk assets and are subject to significant price volatility. The value of digital assets may fluctuate sharply within a short period of time, and you may lose part or all of your investment principal. Past performance does not guarantee future results. Before engaging in any transaction, you should carefully assess your financial situation, investment experience, investment objectives, and risk tolerance, and ensure that you fully understand the characteristics and risks associated with cryptocurrencies. If necessary, you are advised to consult an independent professional advisor with the appropriate qualifications.

Disclaimer

The information provided on this page is for general reference only and does not constitute any form of investment, financial, legal, tax, or trading advice, nor does it constitute any offer, solicitation, or recommendation. Gate makes no representations or warranties regarding the accuracy, completeness, or timeliness of the relevant information and assumes no liability for any losses arising from users' own decisions based on such information. Gate products and services may be restricted in certain jurisdictions or for certain users. Before using the relevant services, please ensure compliance with applicable laws and regulations, and refer to the User Agreement for provisions regarding restricted regions and service limitations.