Synthetix Network Token Price

What is Synthetix

Synthetix (SNX) is a decentralized finance (DeFi) project that provides a blockchain-based marketplace for synthetic assets. They, in turn, are assets that track the value of another asset and can be traded without owning the underlying asset directly. Synthetix users can trade different real-world assets, such as stocks and commodities, just as easily as they can trade cryptos.

Synthetix worth comes from its use in the project. In particular, SNX is used to run the project, create the synthetic assets and reward its users.

Understanding SNX price

As with any crypto, doing your own research is key to understanding SNX price movements.

This Synthetix price chart can serve as a useful starting point for your research. You can easily check Synthetix price history and see how it compares to other cryptos.

Like many other cryptos, Synthetix is affected by broader movements in the crypto market. Still, the Synthetix marketplace also allows trading other assets, so the price of Synthetix could also be influenced by stock or commodities markets. As always, your own research is highly encouraged.

Using this price tracker

We've built this Synthetix price tracker with ease-of-use in mind, so you can dive right in. Here are just a few things to note:

• When first opened, it shows the SNX price in USD over the last 24 hours. Other local currencies and time frames are available from the drop-down menu;

• The tracker is constantly updated with the latest data, so you're always getting the Synthetix price now;

• Click anywhere on the chart to see what the current Synthetix price was at any given moment;

• And, when the live Synthetix price looks like a great buying opportunity, hit the Buy button to get your SNX at Paybis, a leading crypto exchange! 

Possible uses of SNX

As already noted, Synthetix value is closely connected to the Synthetix marketplace, and the token has multiple uses within it. 

DeFI marketplaces are a fascinating and promising subject, which is definitely worth your attention. Still, even if you don't use the Synthetix marketplace, SNX still works like any other crypto: you can buy it, sell it, and keep it, waiting for SNX price to increase.

And, since SNX has several unique features that set it apart from the majority of other cryptos, it may also be a good way to diversify your portfolio.

Synthetix price today

Crypto market is renowned for its volatility, and Synthetix price is no exception. Therefore, it is best to approach SNX with a clear investment strategy that may help you remain successful in the long run and keep your calm even if the Synthetix price today is not where you want it to be.

Here at Paybis, we do not provide any ready-made strategies. We do, however, provide solid research tools, such as this price tracker, to help you build your own strategy. And, of course, we provide a simple, fast, and reliable way to actually get your crypto when the time is right!

Why not try it yourself? Scroll back up to get started!