On March 30, Synthetix announced it had closed out the biggest weekly fee period in its history. The amount of $650,000 was paid out to SNX stakers on Optimism. SNX has gained 15% so far today.
If you are attracted to unique features and want to learn how and where to buy Synthetix, this guide is for you.
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What is Synthetix?
Synthetix is a DeFi protocol giving exposure to a broad range of digital assets, including highly liquid synthetic assets known as synths. These assets track and can generate returns on an underlying asset, so you don’t need to hold the asset directly.
Synthetix intends to broaden the crypto space by adding off-chain assets, thereby creating a more solid and more resilient financial market. You can swap and trade synths independently on the platform.
Holders can stake SNX, the native token of the protocol, in a staking pool. They receive a portion of the transaction fees on the Synthetix Exchange in return, which has emerged to be highly rewarding. They can also use SNX as collateral for the synths minted.
Should I buy Synthetix today?
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.
Synthetix price prediction
Analysts tend to be bullish on Synthetix. Blockyre cofounder Simon Dedic predicts it will reach $60 short-term. Ark Capital founder Brian Schuster is even more optimistic, forecasting a minimum of $140 in 2024.
Coin Price Forecast is more moderate to the point of bearish. They predict Synthetix will trade for around $10 in 2026. Its current price is just under $7.
Synthetix on social media
Top 3 coins with long-term value in DeFi#Synthetix ( $SNX) has a market cap of $714 million#Compound ( $COMP) TVL of approximately $7 billion#LidoFinance ( $LDO) TVL with a total locked-in value of over $18 billion pic.twitter.com/xJ4b223R49
— Aurora (@PolarisAuroraa) March 31, 2022