Synthetix Price (SNX)
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Synthetix Price (SNX)
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About Synthetix
Synthetics network token began as a stable coin project called Heaven and was founded by current CEO Ken Warwick. Synthetics is currently one of DeFi's largest projects, with more than 180 million worth of SNX tokens closed in protocol in December 2019. Synthetics is a decentralized synthetic asset for providing and selling protocols based on Ethereum. In more simple words Synthetix allows users to bet on cryptocurrencies, stocks, currencies, precious metals and other commodities as ERC20 tokens. Synthetics Network Token (SNX) is an ERC-20 symbol used as a benchmark to produce new syntheses while winning prizes for participants participating in the event. Synths are tokens that provide exposure to assets such as gold, bitcoin, US dollars, AAPL and more. Their pooled collateral model enables users to convert into synths through smart contracts. The Synthetix platform was created primarily for users to share Synths. Owners of synths can go a long way with one asset - bet on price increases. Or they can shorten an existence: the price bet will be reduced.
Synthetix Price INR History
| Time | Price in INR | Change in % |
|---|---|---|
| 2020-09-06 | 4.98 | -58.80% | 2020-09-05 | 4.44 | -66.07% | 2020-09-04 | 5.36 | -54.56% | 2020-09-03 | 5.21 | -56.16% | 2020-09-02 | 6.40 | -45.53% | 2020-09-01 | 7.14 | -40.71% |
Synthetix Price History and Analysis
Synthetix Price in India (SNX Price in INR)
Synthetix spent a lot of time in 2019 climbing to the top of the DeFidapp charts before ending the year with a commitment to move to a decentralized management structure. They started in 2020 by demonstrating DeFi's 'money lego' features by combining sUSDstablecoin with the bZx trading platform. But the biggest feature he’s been waiting for is to trade stocks like Ethereum on Tesla and Apple - an absolute game changer for DeFi believers everywhere.
Synthetix Network Token price in India (SNX to INR) in March 2018
In March 2018, the price of Synthetix Network Token was highest in the year i.e. ₹33.633 and volume of ₹923414.56 with market cap of ₹0
Synthetix Network Token price in India (SNX to INR) in Dec 2018
In December 2018, the price of Synthetix Network Token was ₹4.38 and volume of ₹903415.11 with market cap of ₹303811792
Synthetix Network price in India (SNX to INR) in Jan 2019
In January 2019, the price of Synthetix Network (SNX) was ₹2.92 and volume of ₹1898955 with market cap of ₹198003647
Synthetix Network price in India (SNX to INR) in Dec 2019
In December 2019, the price of Synthetix Network (SNX) was ₹95.05 and volume of ₹1061315315 with market cap of ₹1.46004776e10
SNX price in India (Synthetix Network to INR) in Jan 2020
In January 2020, the price of SNX was ₹85.54 and volume of ₹15001984.5 with market cap of ₹1.38470296e10
SNX price in India (Synthetix Network to INR) in Aug 2020
In August 2020, the price of SNX was ₹484.755 and volume of ₹7.91449814e9 with market cap of ₹4.57158976e10
Synthetix Features
Synthetics uses a well-known infrastructure based on collateral, inpatient, inflation and payment systems.
The system uses two different tokens - a primary synthetic network token (SNX) and a synthetic or synthetic asset.
The system is similar to MakerDAO, where the ETH is locked to create a DAI.
In Synthetix, SNX is locked to create sUSD (synthetic USD). SUSD acts as debt, while SNX acts as collateral.
One of the essential requirements of the Synthetix system is the ability to obtain accurate information from the 'outside world'.
