Synthetix (SNX) Price Prediction – 2023, 2025, 2030

Synthetix (SNX) Overview

Synthetix (SNX) Introduction

Before transforming to Synthetix, in 2018, Kain Warwick created the Havven protocol. Its initial offering was very successful. It raised a whopping $30 million by issuing 60 million HAV tokens. The need to develop cryptocurrencies that mirror the performance of fiat currencies like the US dollar and the Euro on several blockchain networks, especially Ethereum and EOS, informed the creation of Havven.

By 2018, Havven had expanded its goals to include the development of synthetic assets for cryptocurrencies and commodities. Consequently, Havven was transformed into Synthetix. Synthetix quickly raised $3.9 million in 2019 through the issuance of SNX, its native tokens, suggesting the emergence of groundbreaking blockchain innovation. In 2020, Synthetix replaced management and governance by the non-profit foundation with Decentralized Autonomous Organizations (DAO), which gave SNX holders voting rights to developing the Synthetix ecosystem.

What is Synthetix (SNX)?

Synthetix is a protocol built on the Ethereum blockchain, which provides a platform for crypto users to access several cryptos and non-crypto assets such as indices, and commodities, among others. It is a decentralized finance software protocol powered by a bunch of intelligent contracts on the Ethereum blockchain.

Synthetix provides crypto users access to tangible world assets without necessarily purchasing this asset. The preceding statement means that, without physically owning any gold bars, one could buy a Synth asset created to mimic the performance of the gold and therefore profit from the price appreciation of the gold. Synthetix aims to expand the crypto market to include non-blockchain assets by creating collateralized Synth assets.

To create Synth assets on Synthetix, users must acquire the Synthetix token. Therefore, SNX serves as collaterals that permit creators to develop their synth assets.

The circulation of Synthetix is a dynamic one. The laws of the market determine the price of the SNX. Thus, the number of Synths in circulation may increase or decrease to mirror the price fluctuations of the SNX. This means that if the price of the SNX rises, Synthetix will release the percentage of locked collateral to the user, which equals the percentage increase in price. These can then be used to create new additional Synths.

Synthetix (SNX) Fundamental Analysis

Synthetix occupies a strategic position in the crypto industry because of its ability to provide access to non-blockchain assets through Synths. This means that investors who initially lacked access to specific markets and commodities can now access them courtesy of Synthetix. This integration of non-blockchain assets holds a vast possibility of expansion for the crypto community, which could bolster the contribution of Synthetix to the crypto space and expand its fortunes.

Scalability

Synthetix infrastructure, resources, and products are all on the Ethereum blockchain. What this means is that the infrastructural development of the Ethereum blockchain will have a positive effect technologically on Synthetix. For instance, migrating to layer 2 upon the deployment of Eth 2.0 would scale the platform significantly.

Collaborations

Synthetix has firmly rooted its foundation in the crypto market such that it is almost impossible for any turbulent tides to drown it under the waters of dead coins and projects. Synthetix is working with Chainlink to provide users with accurate and timely market data. It partnered with Curve finance to create Curve pools for Synthetic Ether (Seth)/Ether (ETH), Synthetic US dollar (USD)/3CRV, and Synthetic Bitcoin (sBTC)/Bitcoin (BTC). Synthetix also has the backing of several venture capital funding its Web3 project.

Synthetix (SNX) Current Price

Synthetix is currently worth $2.93 USD. SNX has moved 7.45% in the last 24 hours with a trading volume of $43,523,514. Synthetix is currently ranked 84 amongst all cryptocurrencies with a market capitalization of $960,850,987 USD.

Utilizing the relative strength index (RSI), moving weighted average (MWA), williams fractal (fractal) and moving average convergence divergence (MACD) from the chart above, we can determine price patterns for Synthetix (SNX) to decide wether it is going to have a bullish or bearish year.

Synthetix (SNX) Price Prediction

The price of Synthetix has enormous potential for organic growth and this is undoubtedly so, considering it provides a platform for crypto users to interact with non-blockchain commodities and assets. In addition, its technical and fundamental indicators suggest very positive outcomes. At this juncture, let’s talk figures.

Our price prediction forecasts use real-time Synthetix (SNX) market data and all data is updated live on our website. This allows us to provide dynamic price predictions based on current market activity.

Synthetix (SNX) Price Prediction 2023

Synthetix, according to some, is one of the most amazing cryptocurrencies to rise this year (SNX). The SNX price forecast for 2023 anticipates a significant increase in the year’s second half, possibly reaching $4.40.

As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $4.10 in price is quite ambitious, but it is feasible in the near future given anticipated collaborations and advancements. SNX is expected to have a minimum value of $3.52.

Synthetix (SNX) Price Prediction 2024

In 2024, Synthetix SNX price prediction has much room for expansion. As a result of the potential announcements of numerous new partnerships and initiatives, we anticipate that the price of SNX will soon surpass $7.33. However, we should wait to see if the SNX’s relative strength index comes out of the oversold zone before placing any bullish bets.

Considering the market volatility, SNX will trade with a minimum trading price of $5.86 and an average trading price of $6.45.

Synthetix (SNX) Price Prediction 2025

If the upward trend continues until 2025, it could reach $10.26 and SNX may profit. If the market experiences a decline, the goal may not be met. SNX is expected to trade at an average price of $9.38 and a low of $8.79 in 2025.

Synthetix (SNX) Price Prediction 2026

If Synthetix successfully boosts market sentiment among cryptocurrency enthusiasts, the SNX coin price could remain stable for the next five years.

According to our projections, SNX will be green in 2026. The SNX is expected to reach and surpass its all-time high in 2026. In 2026, the virtual currency will be worth $13.19, with a minimum price of $11.73 and an average price of $12.31.

Synthetix (SNX) Price Prediction 2027

After some extensive forecasting and technical analysis, we estimate the SNX price is expected to cross an average price level of $15.24 by 2027, with a minimum price of $14.66 expected before the end of the year. Furthermore, SNX has a maximum price value of $16.12.

Synthetix (SNX) Price Prediction 2028

Due to the future partnerships that are expected to happen by 2028, we are expecting that a bullish trend will continue, bringing the average price to around $18.18. If SNX manages to break the resistant level in 2028, we could see a maximum price of $19.05, failing to gather the support SNX needs by 2028 could result in a low of $17.59.

Synthetix (SNX) Price Prediction 2029

While SNX is striving towards interoperability between networks to hasten interaction, the bullish trend from the previous year is expected to continue. So the minimum trade price has been placed at $20.52 and a yearly price close above $21.99 in 2029.

Synthetix (SNX) Price Prediction 2030

By 2030, Synthetix will finally surpass its previous ATH values and record new price levels. The minimum price could be $23.45 and potentially reach a maximum price value of $24.92, averaging out at $24.04.

Synthetix (SNX) Price Prediction 2031

The cryptocurrency market is known to be highly volatile which is one of the many reasons why price forecasting is a difficult task. BitcoinWisdom tries our best to forecast future price points with precision, however all predictions should not be taken as financial advice and you should DYOR (do your own research). In 2031, we are expecting cryptocurrency to have gained adoption across many sectors. As such, the maximum SNX price in 2031 is projected to be $28.73 in the event of a bull run, with an average price level of $27.56.

Conclusion

Providing access to non-blockchain financial assets makes synthetic a strategic contributor to the development of the crypto community. Its dynamic workings and scalability built off the credibility and infrastructure of Ethereum suggest a bright future for Synthetix.

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