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Synthetix

SNX

SNX to GBP Price

£2.61

Synthetix Market Cap

£761.38M

See all buy/sell options

SNX GBP price chart / performance

Data Disclosure
From
Nov 23, 2023
To
Nov 30, 2023

Returns

Return (24h)
-3.28%
Return (7D)
-4.34%
Return (1M)
+38.26%
Return (1Y)
+85.32%

My Investment

Profit Taken
£0.00
0%
Profit/Loss
£0.00
0%
You Have:

Synthetix (SNX) History and Overview

The Synthetix network is an Ethereum-based protocol which is used for issuing synthetic assets. The concept of synthetic assets is similar to derivatives in legal finance. They are financial instruments represented by ERC-20 smart contracts known as "Synths", which track returns of other assets without requiring the user to hold that asset. Synths can be traded, on Kwenta, the Synthetix crypto decentralised exchange.  

SNX, the Synthetix coin, is used to provide collateral against issued Synths. Users can stake tokens to receive staking rewards in SNX and exchange fees from Synth trade given in sUSD. If users want to receive both, they need to have a 600% collateralization ratio. This system ensures that Synths are always backed by a sufficient amount of collateral. 

Users can trade Synths on Kwenta, a decentralized exchange, as well as across a variety of other DeFi protocols. 

How To Buy Synthetix or Add it to your Strategy

The fastest, most convenient way to purchase Synthetix is to purchase it on ICONOMI. We check Synthetix live prices on 10+ crypto exchanges and buy it at the best market price.

You can buy Synthetix by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.

We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Synthetix is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).

If you are unfamiliar with analyzing cryptocurrency prices and want to buy Synthetix, we recommend you read the next section, as copying might be a better approach.

Add Synthetix to your portfolio by copying a Strategy

If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Synthetix in their structure.

Posts

Here you can read and comment on all posts made by Strategists about Synthetix SNX. See all Synthetix price predictions in real time and make the best use of their crypto knowledge.

GRAZZP™️
19 Nov, 2023

Hello and good evening! 


This weeks update is very similar to last weeks.


I wrote that "When $BTC is stable, without any significant moves, ALTS usually get spikey." 


That's exactly what happened with 2 of our ALTS within the GRAZZP portfolio. They outperformed the market very well: $SKL +42% and $SNX +21%. I just sold them and bought more BTC, just to make sure we are not giving it back to the market. 


let's proceed to the 1D BTC chart. 


How does the chart look like today?

The chart looks bullish. Price did correct a bit, and is moving to the red box. I still expect BTC to correct a bit more, before hitting the red box. 



Why do I think that?

Ichimoku;

Cloud is green

Price is above the green cloud

Price is above the red line

Lagging span (green line) is above the green cloud 


RSI;

Just below 70% and it did not pass the 50% level yet. Its now not really "overbought", but the needed correction before giving it a strong next push, did not happen yet. 


What could be the Target?

Because of the small correction i changed the Elliott Wave count and placed the green 4th leg just below 34.800 dollar.

Preferably i would like to see a retest to at least 33,4K, but hopefully a bit deeper to 32K dollar and then up to +- 40K. 


What does this mean for GRAZZP™ Strategy?

We stepped fully into ALTS last week, because $BTC was stable and ALTS looked prime to pump. Now i can't find any clear ALT Longs. $BTC is still looking very strong nevertheless, therefore I increased $BTC.


As you know, I'm always keeping an eye on $BTC. If it shows weakness, or hits the red box, I will sell most ALTS to take profit and try to buy back cheaper.  

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5 people like this
Alpha Digital
2 Feb, 2023

Over the past 73 days, we've witnessed a significant increase in the value of $BTC, with a 57% increase from the low of 15.5k to the current high of 24.2k. 


This uptrend has allowed Bitcoin to exit the descending regression channel and trade along the upper boundary of the new channel drawn from the low. 


However, analyzing past market movements, I see a strong possibility of a future retest of the channel's lower bound. The high degree of slope of the linear regression only strengthens my view. 


With the moving averages and range highs above, I remain cautious.  

I left the market in early December 2021 when bitcoin was around 50,000. I am not yet feeling any pressure from FOMO.


Instead, I start looking for sound setups, especially in alternative cryptocurrencies, before making any decisions.

I got my eyes on $ATOM, $FTM, $XMR, $SUSHI, $GNT, $ANT, $SNX, $DYDX, $DOGE, and of course $ETH


I hope you don't find the attached chart too confusing. I tried to give some "historical context" using past regression channels.


As always, these are just my personal thoughts and shouldn't be treated as financial advice.


Cheers!

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21 people like this

@CryptoEnthuzias Not much has changed, but still gonna work on a new post soon :)

Hi ! Thanks for your update. Any new opinions ? :D

Rebalancing @LongTerm portfolio to bring asset allocation in line with our medium to long term goals. Our $SNX play had a SCORCHING hot run -- offloading a bit of $SNX, +$CRV and -$LINK .

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4 people like this

$SNX enables swaps of any size almost without any slippage, as well as creation of tokens that can track the value of any asset (stocks, ETFs, indexes, commodities, cryptocurrencies, etc). $SNX has generated $11M of revenue in the last month. @LongTerm  remains bullish in $SNX for the foreseeable future.

Our other main plays are $FXS and $CVX. It goes without saying that we are maintaining $ETH position.

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@LongTerm
21 Jul, 2022


$SNX enables swaps of any size almost without any slippage, as well as creation of tokens that can track the value of any asset (stocks, ETFs, indexes, commodities, cryptocurrencies, etc). $SNX has generated $11M of revenue in the last 30 days and remains our current largest allocation. @LongTerm remains bullish in $SNX for the foreseeable future.


Our other main plays are $FXS and $CVX and goes without saying that we are maintaining $ETH position.

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Synthetix Price FAQ

What Is the Highest Price of Synthetix in GBP?

Synthetix price UK history shows the highest value of 19.79 GBP . We recorded this price on February 13, 2021, but we cannot exclude that a higher price was registered before July 13, 2020.

What Is the Lowest Price of Synthetix in GBP?
How to buy Synthetix in the UK?
What Is the Current Synthetix Price UK in GBP?
Is Synthetix a good investment?