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SNX

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1d
1w
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Analysis and statistics

  • Open
    145.3667$
  • Previous Close
    143.4538$
  • 52 Week Change
    62.15$
  • Day Range
    1.91$
  • 52 Week High/Low
    91.5478$ - 153.7$
  • Dividend Per Share
    0.0118
  • Market cap
    11 912 M$
  • EPS
    2.99
  • Beta
    1.223
  • Volume
    --

About

SNX.US represents Synthetix Network Token trading on U.S. exchanges. Synthetix is a decentralized finance (DeFi) protocol built on Ethereum that enables the creation and trading of synthetic assets (Synths). These Synths track the price of real-world assets like stocks, commodities, and cryptocurrencies, offering users exposure without directly holding the underlying asset. The SNX token is integral to the Synthetix ecosystem, serving as collateral for Synths and incentivizing network participation through staking rewards and governance rights. Its price fluctuates based on factors influencing the broader cryptocurrency market, adoption of the Synthetix platform, and the perceived value of its DeFi services.

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Factors

SNX.US represents Synthetix Network Token. Its price is influenced by several factors: Market Sentiment: Overall cryptocurrency market trends impact SNX's price. Positive sentiment boosts demand, driving prices up, while negative sentiment can cause price declines. Synthetix Protocol Adoption: Increased usage of the Synthetix platform for synthetic asset (Synths) trading enhances demand for SNX, as it's used for collateralization and staking. This increased demand can increase the price. Staking Rewards & Inflation: The amount of SNX staking rewards and the token's inflation rate affect its attractiveness to investors. Higher rewards can drive demand, while high inflation can dilute value. Governance Decisions: Proposals and votes related to Synthetix protocol upgrades, fee structures, or collateralization ratios can significantly influence investor confidence and SNX's price. Regulatory Environment: Cryptocurrency regulations can impact SNX's price. Favorable regulations can attract institutional investors, while restrictive regulations may lead to decreased trading activity and decreased price.

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