The emerging Decentralized Finance enhances security and prevents the user data from unauthorized access. Synthetix is one such cryptocurrency that is engaged with a derivatives liquidity protocol that supports derivatives trading.
Looking for an investment in Synthetix, but worried about how it performs?
Don’t be worried, In this article, we will discuss the Synthetix price prediction for 2021 and beyond. In the end, you will have a clear picture, whether SNX Price will Rise or Crash.
Table of contents
|Market cap||$ 3,105,670,932.0000|
|Circulating Supply||$ 147,377,620.4155|
|Trading Volume||$ 89,816,933.0000|
|All time high||$ 28.5300 February 14, 2021|
|All time low||$ 0.0348 January 6, 2019|
What is Synthetix?
Synthetix is the software that allows users to forge new crypto assets that mock both the real assets as well as the crypto assets. It is a collection of smart contracts that runs on the Ethereum Blockchain network. Synthetic users do not need to trust any third party to take care of the crypto assets.
They only need trust in a code which will execute as written. Synthetix generates new crypto assets by using a process called collateralization. SNX cryptocurrency must be purchased by the users to collateralize an asset on Synthetix. Synthetix was found by Kain Warwick.
Synthetix Technical Analysis
Synthetix made its existence in the crypto world on 14 March 2018 with a price of $0.49 according to Coinmarketcap. Later, the token started to variate and the price hovered between $0.27 and $0.68 till the end of July. Further the price declined to $0.07 by September. SNX continued to be in the same price level with certain variations and ended the year 2018 at a cost of $0.04.
On a bearish note, SNX entered the year 2019 with a price of $0.03. The altcoin started to variate after and traded between $0.04 and $0.08 until the mid May. Dramatically, Synthetix surged to $0.35 by the end of June and the price started to rise with certain inequalities. On a bullish note, SNX hit $1.46 by the end of November. Later, the token traded at $1.22 in December to end the year 2019.
Synthetix continued to exchange at the price of $1.20 during the dawn of January. Further the price dropped to $0.4 in the mid March as the crypto market crashed and the major currencies suffered a huge decline in their values. The token continued to recover after and surprisingly hit $7.10 by the end of August as it gained the attention of the market.
Later, SNX failed to sustain the resistance level and the prices again started to decline. As the bears were held into dragging the prices, the currency shockingly sank to $2.51 by November and continued to recover after. By reclaiming its previous resistance level at the $7 mark in December, SNX ended the year 2020 with a price of $7.42.
Synthetix Price Prediction 2021
On a bullish note, SNX resumed trading at $8.43 during the start of January. Later the price started to rise. Synthetix might hit a new height if it comes across some partnerships and developments. It can also rise if the marketers focus on investing. It may fall around the $5.5 mark if it fails to attain the users. At the end of 2021, SNX might be valued at the $90 mark.
SNX Price Prediction 2022
SNX might commence the year 2022 with a cost of $92. Further the currency is anticipated to rise if the community concentrates on expanding the user base and enhancement of its platform. The token might sink to $45 if it fails to satisfy the users and investors. By the end of 2022, the digital currency might be traded at $190.
5 Years SNX Price Prediction
In 5 years, Synthetix might be recognized as the utmost cryptocurrency in the world. Certain inbound developments and partnerships may lead to growth of the currency. The token is anticipated to rise if any social media influencers have a positive outlook on the token. SNX may decline to as low as $65, if the token fails to enhance its protocol. By the end of 5 years, Synthetix might be traded at the $360 mark.
Synthetix Market Prediction
According to WalletInvestor, Synthetix is a profitable long term investment. It would reach $87.150 by the end of 2021 and could trade at $350.09 at the end of 2025.
According to DigitalCoinPrice, Synthetix could be traded at an average of $39.33 at the end of 2021 and 89.74 by the end of 2025.
According to TradingBeasts, the price of Synthetix will be $26.245 at the end of 2021 and $44.919 by the end of 2025.
Our Synthetix Price Prediction
With a trading value of $8.43, SNX initiated the year 2021. With certain ups and downs, the price started to soar further. Synthetix is anticipated to be ranked among the top 15 currencies in the world if the bulls significantly try to push the prices up.
Certain collaborations with other projects and startups might result in attaining the high prices as well as the investors. The currency may decline to $5.95 if the market crashes. At the end of 2021, SNX might be traded at $95 and $400 in the future.
Yes, Synthetix is an ERC-20 token, powered by Ethereum blockchain.
No, Synthetix cannot be halved as it only mined.
Synthetix enables the special feature called Peer-to-contract trading. It executes the trade quickly and easily without an order book.
Yes, Synthetix is a collateralized platform.
Yes, Investing in Synthetix might be worthy, if you are thinking for a long term.