Synthetix Profile

SNX
 Crypto
  

USD 1.73  0.02  1.17%   

Market Performance
0 of 100
Odds Of Distress
Less than 45
Synthetix is trading at 1.73 as of the 26th of November 2022, a 1.17 percent increase since the beginning of the trading day. Synthetix has 45 percent odds of going through some form of financial distress in the next two years and has generated negative returns to investors over the last 90 days. Cryptocurrency ratings for Synthetix are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 27th of September 2022 and ending today, the 26th of November 2022. Click here to learn more.
Synthetix is peer-to-peer digital currency powered by the Blockchain technology. More on Synthetix
Synthetix is an online market maker for peer-to-peer digital currency indicated as Cryptocurrency. Synthetix has been active in the last 3 months, and it is presently expressing a bullish sentiment. Cryptocurrencies such as Synthetix are digital assets that allow for secure payments and are represented by ledger entries internal to the system, generally referred to as a blockchain. Blockchain implementations use encryption algorithms and cryptographic techniques that safeguard entries in the ledger. Cryptocurrency assets such as Synthetix are becoming very popular among investors and have been praised for their portability, inflation resistance, and transparency. However, they face a lot of criticism, including lack of tax regulations, exchange rate volatility, and infrastructure vulnerabilities.

Synthetix Crypto Coin Highlights

Most cryptocurrency investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend or investor sentiment. Synthetix's investment highlights are automatically generated signals that are significant enough to complement your investing judgment regarding Synthetix or challenge it. These highlights can help you better understand the crypto position you are entering and avoid costly mistakes.
Synthetix generated a negative expected return over the last 90 days
Synthetix has high historical volatility and very poor performance
Synthetix may become a speculative penny crypto
Synthetix is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on 25 exchanges in multiple currencies. Synthetix (SNX) is a rebranding of Havven.io (HAV).Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties.This mechanism is designed to solve the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX.How SNX backs SynthsAll Synths are backed by SNX tokens. Synths are minted when SNX holders stake their SNX as collateral using Mintr, a decentralised application for interacting with the Synthetix contracts. Synths are currently backed by a 750% collateralisation ratio, although this may be raised or lowered in the future through community governance mechanisms. SNX stakers incur debt when they mint Synths, and to exit the system (i.e. unlock their SNX) they must pay back this debt by burning Synths.Synthetix is also currently trialling Ether as an alternative form of collateral. This means traders can borrow Synths against their ETH and begin trading immediately, rather than needing to sell their ETH. Staking ETH requires a collateralisation ratio of 150% and creates a debt denominated in ETH, so ETH stakers mint sETH rather than sUSD and do not participate in the ‘pooled debt’ aspect of the system. In this model, ETH stakers do not receive fees or rewards as they take no risk for the debt pool.
Coin TypeSynthetix
SymbolSNX
RatingC+
Technology Adoption RatingB-
NameSNX
Sponsoredfalse
Built OnETH
Asset Whitepaper Urlhttps://docs.synthetix.io/litepaper/
Decimal Points18.0
Is Tradingtrue
Asset Launch Date2018-03-11
Full NameSynthetix (SNX)
Asset Website Urlhttps://www.synthetix.io/
Asset Token StatusFinished
Platform Typetoken
Coin NameSynthetix
Total Coins Mined305.48 Million
Smart Contract AddressView
Synthetix (SNX) is traded on CRYPTO Exchanges. Synthetix is peer-to-peer digital currency powered by the Blockchain technology.

Synthetix's Exchanges and Markets

CoinJar Bitstamp Coinbase Kraken Switcheo Poloniex BitMart Binance Korbit DigiFinex CoinBene Gemini Bithumb LBank Liquid HitBTC Bitfinex ZB IDEX Kucoin Coinone Bibox Bitso CoinEx Tokenomy

Synthetix Target Price Odds Analysis

What are Synthetix's target price odds to finish over the current price? Depending on a normal probability distribution, the odds of Synthetix jumping above the current price in 90 days from now is more than 94.0%. The Synthetix probability density function shows the probability of Synthetix crypto coin to fall within a particular range of prices over 90 days. Assuming the 90 days trading horizon Synthetix has a beta of -0.7279. This usually implies as returns on benchmark increase, returns on holding Synthetix are expected to decrease at a much lower rate. During the bear market, however, Synthetix is likely to outperform the market. Additionally, the company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Synthetix is significantly underperforming DOW.
  Odds Below 1.73HorizonTargetOdds Above 1.73
6.33%90 days
 1.73 
93.64%
Based on a normal probability distribution, the odds of Synthetix to move above the current price in 90 days from now is more than 94.0 (This Synthetix probability density function shows the probability of Synthetix Crypto Coin to fall within a particular range of prices over 90 days) .

Synthetix Risk Profiles

Investors will always prefer to have the highest possible return on investment while minimizing volatility. Synthetix market risk premium is the additional return an investor will receive from holding Synthetix long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Synthetix. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Synthetix's alpha and beta are two of the key measurements used to evaluate Synthetix's performance over the market, the standard measures of volatility play an important role as well.

Synthetix Technical Analysis

When it comes to investing in cryptocurrency, such as Synthetix, the assumption holds that everything in the market that could affect the price of crypto is already reflected. Therefore, the price of Synthetix, which is currently traded at 1.73, shows everything you need to know about Synthetix market value. You don't have to consider the fundamental factors that affect a crypto asset, such as Synthetix, to determine its price movements. However, the Synthetix's price action will always exhibit trends, even in random market movements, regardless of the timeframe you use - so Synthetix's future price movement is more likely to follow an established trend and the cryptocurrency technical analysis is one of the ways to project Synthetix's future price trend
Transformation
The output start index for this execution was zero with a total number of output elements of sixty-one. Cosine Of Synthetix Price Series is a trigonometric function that describes price patterns.
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Synthetix Against Markets

Picking the right benchmark for Synthetix crypto coin is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Synthetix crypto coin price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Synthetix is critical whether you are bullish or bearish towards Synthetix at a given time.

Be your own crypto manager

Our tools can tell you how much better you can do entering a position in Synthetix without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.

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How to invest in Synthetix

You need to understand the risk of getting into digital currencies such as SNX before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in Synthetix in four ways:

Buy SNX through an exchange

Get yourself a crypto wallet before embarking on your Synthetix journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain. Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase Synthetix. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.

Purchase fractions of Synthetix through an exchange

You don't have to buy a full token when starting out since SNX is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.

Trade Synthetix through a broker

If you don't want to store your Synthetix Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.

Invest in SNX through an exchange-traded fund (ETF)

You can also invest in SNX through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor. Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.

Investing Ideas

In addition to having Synthetix in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
Explore Thematic Ideas
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Additionally, take a look at World Market Map. You can also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.

Other Tools for Synthetix Crypto Coin

When running Synthetix price analysis, check to measure Synthetix's coin volatility and technical momentum indicators. We have many different tools that can be utilized to determine how healthy Synthetix is operating at the current time. Most of Synthetix's value examination focuses on studying past and present price actions to predict the probability of Synthetix's future price movements. You can analyze the coin against its peers and the financial market as a whole to determine factors that move Synthetix's coin price. Additionally, you may evaluate how adding Synthetix to your portfolios can decrease your overall portfolio volatility.
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