Synthetix Network Price (SNX)

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As of today (21.10.2025), the current Synthetix Network (SNX) price is at 1.39 EUR, a 6.06% increased as the previous day (20.10.2025) of 1.31 EUR.

Synthetix - Price Data

High 24h: 1,56 €
All Time High: 23,54 € 94,1%
Days since All Time High: 1.710 (14.02.2021)
Low 24h: 1,27 €
All Time Low: 0,0305 € 4.489,3%
Days since All Time Low: 2.475 (11.01.2019)

Synthetix - Market Data

Popularity Popularity by market capitalization. The cryptocurrency with the highest market capitalization ranks 1st.: Rank 157
Trading Volume A measure of the trading volume of cryptocurrencies on all tracked platforms in the last 24 hours. This volume is continuously tracked over the entire 24-hour period without opening or closing times.: 227.110.230,00 €
Max Supply The maximum number of coins set during the lifetime of a cryptocurrency. This is comparable to the maximum number of shares that can be issued on the stock market. Maximum supply = theoretical maximum as set in the code.: 343.889.850
Market Cap Market capitalization is calculated as the current price multiplied by the circulating supply. This term refers to the total market value of a cryptocurrency's circulating supply. It is comparable to the measurement of the stock market where the price per share is multiplied by the number of freely available shares.: 480.280.409,00 € 6,0%
Circulating Supply The amount of coins circulating in the market and publicly tradable. This is comparable to the consideration of shares available in the market.: 343.466.217
Total Supply The number of coins that have already been created, minus any coins that have been removed from circulation. Total supply = blockchain supply - removed tokens.: 343.889.850

Synthetix Network calculator: 
Calculate how much SNX you get for your Euro money

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About the Synthetix Network Euro Price

The Synthetix Network price reflects the value of SNX, the native token of a DeFi protocol used for synthetic assets (Synths). Here, you’ll learn which factors shape the Synthetix price, how it has developed since its 2017 launch, and which developments are planned for the protocol and SNX.

Key facts about the Synthetix Network price

Synthetix Network is a DeFi protocol that serves as the liquidity backbone for creating and trading synthetic assets and derivatives.
The Synthetix Network price (token: SNX) is mainly determined by staking SNX to collateralize Synths, with real trading fees providing additional value. Price movements are often triggered by protocol upgrades, governance decisions, and the performance of the sUSD stablecoin.
The all-time high for Synthetix was reached on February 14, 2021 at around USD 28.50. A little over two years earlier, SNX had dropped to USD 0.03—its all-time low.
As of early September 2025, the Synthetix price is at historically low levels, trading between USD 0.65 and USD 0.70.
The future of SNX depends heavily on the success of its strategic realignment toward the Ethereum mainnet.

How is the Synthetix price determined?

Like other cryptocurrencies, the Synthetix Network price is set by supply and demand. Demand is primarily shaped by the protocol’s function as the liquidity backbone for derivatives:

Staking: Users (outside the BISON app) can lock SNX tokens (and in V3 also other assets like ETH or USDC) in smart contracts to mint Synths such as the sUSD stablecoin. This mechanism is the primary driver of demand and boosts the Synthetix Network price. At the same time, the protocol requires the value of locked tokens to be a multiple of the value of minted Synths. This high collateralization ratio (C-Ratio) removes a large portion of tradable supply from the market, which can support the Synthetix price.
Debt pools: Stakers are tied to shared debt pools whose value fluctuates with the prices of all Synths in the pool. This mechanism forces stakers to actively manage their positions (for example, by buying new coins), which directly affects the Synthetix price.
Fees: Since the end of SNX inflation in late 2023, the value of staking (outside the BISON app) has been based solely on real trading fees. This means the Synthetix price is directly linked to the actual use and success of trading platforms built on Synthetix.

What drives the Synthetix Network price?

While tokenomics set the framework for SNX, actual price movements are strongly influenced by events and strategic developments in the DeFi sector:

Protocol upgrades: Major technical updates such as Andromeda have a strong impact on the Synthetix price. This upgrade, released in early 2024, was very positively received by the market—SNX rose by more than 30% in the month leading up to its launch.
Governance decisions: Since SNX holders govern the protocol, important votes directly affect the price. A prime example is the December 2023 vote on SIP-2043, which ended SNX inflation and triggered positive price momentum.
Stability of the sUSD stablecoin: The ecosystem also relies in part on the stability of its native stablecoin sUSD. When sUSD briefly lost its USD peg in April 2025, falling to USD 0.70, the Synthetix price also came under pressure.

In addition, trading platforms such as Kwenta or Infinex are built on the network. High activity on these platforms tends to positively impact the Synthetix price.

Price history: Key moments in SNX’s price development

September 2025: Current price
The momentum from December 2024 did not carry into 2025. Instead, after dropping below USD 0.60 in summer, the price chart shows a long sideways phase. In early September 2025, there were slight signs of recovery, but at USD 0.65–0.70 the Synthetix price is at its lowest level since summer 2020.
2023 and 2024: Bottom formation and major upgrades
These two years were marked by a long bottom formation, during which SNX fluctuated widely between USD 1.50 and USD 5. A key event was the late-2023 vote to end SNX inflation, which investors rewarded with a six-month rally and gains of more than 150%—further fueled by the Andromeda upgrade in early 2024. However, the price then fell back toward USD 1. Only in December 2024, alongside the broader market, did SNX recover again and climb above USD 3.
2021 and 2022: ATH and two-year decline
Following a strong 2020, another rally began in early 2021, driven largely by the general crypto bull market. The Synthetix price hit its still-valid all-time high of around USD 28.50 on February 14, 2021. Over the course of that year, however, SNX lost significant value—down 80% at its lows in June and December.

The weak trend continued in 2022, further exacerbated by the Terra/LUNA collapse. Despite temporary recoveries (close to USD 8 in April and above USD 4 in August), the coin remained in a downtrend and ended the year at around USD 1.50.
2017 to 2020: Launch, rebranding, and “DeFi Summer”
The project was launched in 2017 under the name “Havven“ and rebranded as Synthetix Network in late 2018. For the first years the ecosystem remained relatively unknown, with the Synthetix price at times as low as USD 0.03 (its all-time low in January 2019).

The breakthrough came with the “DeFi Summer” of 2020. Thanks to its pioneering role in decentralized derivatives, Synthetix attracted significant capital inflows, pushing the price above USD 8 by year-end.

Outlook for Synthetix

If the DeFi sector performs well, forecasts for the Synthetix Network price are also positive—put simply. However, ecosystem-specific factors also play a role. The central focus is the strategic shift back to the Ethereum mainnet, initiated in summer 2025.

Even in a generally positive market environment, questions remain about whether Synthetix can establish itself in the competitive market for decentralized derivatives against stronger players such as Aave and dYdX. With a market capitalization of around USD 250 million (as of early September 2025), SNX is a relatively small project.

Note on staking service:
Please note that this service is currently not regulated under MiCAR and lacks the protections and oversight established by EU regulations. For comprehensive information on staking risks, please refer to the Special Terms and Conditions for Staking.