This Synthetix price prediction shows that the opinion of respected crypto experts and technical-based analysis combined predict that the long-term forecast of Synthetix and its native token of SNX has the potential to reach anywhere up to $55 per token between now and the year 2025. To avoid missing out on potential upcoming price surges in the cryptocurrency market, check out our easy-to-follow article on how to buy SNX.
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Table of Contents
News about Synthetix (SNX)
- Fear of the unknown: A tale of the SEC’s crusade against synthetics
- ‘Funds Are Safe,’ DeFi Platform Synthetify Says
In recent months, the synth-based platform of Synthetix and its native token of SNX has seen phenomenal growth in users looking to utilize Synth assets and gain returns on a particular asset without needing to actually hold it.
As a result, this asset has seen numerous price surges in recent months. A recent price drop has led to many getting on board in anticipation of a renewed price surge.
But are you wondering if it’s too late to start investing in Synthetix? You’re not alone, many people are curious about whether investing in Synthetix now is a good idea. I was one of those people until I began to use a range of factors to research the future price of Synthetix such as:
- Price history
- The latest legislation
- Prediction strategies
- Expert analysis
- New investors
By analyzing all of these factors, I was able to find out that there’s never a bad time to invest in Synthetix. For example, statistics from the leading trading platform of eToro tell us that sales have skyrocketed in the past few months, demonstrating that demand for this coin is very high.
But what does the future hold for investors who get on board now? Will it rise even further? Our Synthetix price prediction aims to answer all. But first, let’s start with just what Synthetix actually is and how it works.
What is Synthetix?
In order to understand how Synthetic works, it’s important to understand the concept of Synths in the world of crypto. Via ERC-20 smart contracts, synths monitor and provide returns on a particular asset without needing the user to actually hold it.
Using the Ethereum blockchain, Synthetix allows for the issuance of synthetic assets on the blockchain. From synthetic gold and fiat currencies to synthetic cryptocurrencies and indexes, it enables non-blockchain-based asset exposure in the crypto ecosystem. In turn, Synthetic manages to form a more mature and solid financial market.
Using the decentralized exchange (DEX) of Synthetix, you are able to trade synths ranging from gold and crypto to fiat currencies and inverses. And naturally, like most crypto projects, Synthetic has its own native token.
The native token of SNX is mostly used to provide collateral against Synths that are issued. Due to the project’s innovative features and real-world use, it has seen some phenomenal growth in recent months.
Pros and cons of Synthetix
Like any cryptocurrency, SNX has its fair share of incredible pros and limiting cons. We always aim for transparency in our articles. So in this section, we’re going to cover some of the most important pros and cons of Synthetix.
|✔️ Comes with a user interface that is very easy to use.
|❌ Built on the Ethereum blockchain so it comes with high Gas fees.
|✔️ Provides users access to a range of synthetic assets like crypto, fiat currencies, and stocks.
✔️ Synthetix boasts very competitive rates.
Do you still have questions about Synthetix? Rest assured, before we get into the price prediction, next we’ll cover some frequently asked questions about it to give you a better understanding of the original digital asset and its price potential.
Who uses SNX?
The native token of SNX is mostly used to provide collateral against Synths that are issued. It’s also used by a range of investors looking to speculate on its price.
How does Synethix gain value?
Like most cryptocurrencies, the value of Synthetix and its native currency of SNX is largely driven by speculation in its current state. As more people discover the wide range of its uses, its value grows. Due to its innovative nature and real-world use, support for them is only expected to grow as cryptocurrencies become a more widely accepted alternative to fiat currencies. When it does, the value will likely grow in sync.
Can SNX reach $100 per token?
Based on its recent price surges and innovative nature of being a synth-based platform with a growing userbase looking to make passive income and investments, it would not be impossible for SNX to reach $100 per token one day, but this would be a long-term thing.
Where do people buy, sell, and trade Synthetix (SNX)?
You can buy, sell, and trade SNX from various crypto trading platforms. If you are a new investor, then we suggest using a brokerage like eToro to buy crypto. It’s safe, regulated, and beginner-friendly. The eToro interface is very simple to use, and it has an array of trading tools to allow you to trade safely.
Synthetix Price History
As with any crypto price prediction, one of the most important ways we can analyze the future is to look deep into the price history o a particular cryptocurrency, Synthetix is no exception.
Over the course of 2021, the price of SNX largely flatlined and maintained the same momentum from January to June. But Summer saw the first major price rise of this Synth-based crypto asset when, due to major interest from early investors, it surged past the $7 mark.
However, this wasn’t sustainable and the SNX token saw a price correction that saw its value fall from $7 to $2.5 by November.
Whilst many people were expecting a grim winter ahead for this crypto asset, Synthetix saw another price surge in December. Its former momentum returned and retested the vital $7 price. Since then, Synthetix successfully garnered the confidence of various investors and saw its momentum rise in response.
Expert analysis of the Synthetix price potential
One of the best tools we can use to try and determine the potential future price of Synthetix is to analyze the opinions of various crypto experts. Let’s delve into three estimated growth outlooks for various industry experts and analysts.
Overall, PricePrediction.net is bullish on the Synthetix price prediction. Based on Synthetix persisting with being a unique model that retains a solid support base, they believe it has the potential to reach around $11.23 per token by the end of the year, $26.78 by the year 2023, and finally, a price of $55.49 by the year 2025.
DigitalCoinPrice is fairly bullish on its Synthetix outlook and expects the price to gradually increase over the long term. DigitalCoinPrice predicts it to reach $15.30 by the end of 2021, $22.30 by the end of 2023, and finally, a figure of $31.27 by the year 2025.
Another rather bullish expert analysis on SNX is LongForecast. They predict the price of SNX in 2021 to potentially reach up to $10.36 by the end of the year. By the end of 2023, they expect it to reach $13.02 and they expect the price to rise to $19.90 by the year 2025.
So from over $10 in the short term and up to $55 in the long term, the overall expert analysis on the future price of SNX is overwhelmingly bullish with some potentially lucrative returns in store for investors. But what does the technical analysis tell us about the price potential of this innovative digital asset?
Technical analysis of the Synthetix price potential
Now we move on to technical analysis to try and predict the future price of Synthetix. This section will utilize powerful tools like the Japanese candlestick, chart patterns, and trading indicators. As well as giving traders the upper hand in day trading, they can enable us to discover long-term price predictions based on pure technicals when we assess longer time frames.
Synthetix Price Prediction 2021 – 2022
Since the beginning of 2021, the price of Synthetix rose by 15% from $8.53 to its current price of $9.85. It’s predicted that the price will rise an additional 5% in the second half of 2021 and it’s then expected to close the year at $10.36. A year-to-year change of +21%.
Synthetix Price Prediction 2022 – 2023
After starting the year at $10.36, it’s predicted that the price of Synthetix will drop slightly to $9.81 per token in the first half of 2022, it’s then expected to gain $0.59 and finish the year at $10.40, which is a +6% gain on the current price.
Synthetix Price Prediction 2023 – 2024
After starting 2023 at $10.40, Synthetix is expected to rise to a figure of $11.03 midway through the year before going on the rise again and ending the year at $13.02 at an overall annual increase of 32% from the current price.
Synthetix Price Prediction 2024 – 2025
After starting 2024 at $13.02, Synthetix is expected to rise to $807 halfway through the year. The second half of 2024 is expected to see the price of Synthetix end the year at a slightly higher price than the first half of 2024 at $14.97. That’s an overall annual increase of 72% on the current price.
In summary, the Synth-based crypto asset of Synthetix and its native crypto token of SNX has developed major support over the years, resulting in a positive price prediction based on both expert and technical analysis. In recent months, it has seen a surge of new investors leading to speculation that a new price surge could potentially be on the horizon.
Whilst many people can see the significant potential in SNX, there is a significant number of people who are wondering where to invest in this innovative investment for the long term. The answer lies in a reputable and well-established trading exchange with access to vital trading tools like eToro.
Where to buy Synthetix?
Synthetix is available to buy and trade on various crypto exchanges. But for beginners, we recommend starting with a trusted brokerage like eToro. This is a well-established, highly regulated, and secure platform that has the potential to revolutionize your crypto trading.
What’s more, is that eToro allows you to access their incredible array of trading tools such as the Stop Loss, Take Profit, and built-in charting software that all let you maximize your potential profits whilst ensuring safe trading practices that protect your hard-earned funds. Also, eToro offers Leverage Trading on crypto. This allows you to multiply small amounts to become large powerful positions that drive massive profits.
Overall, the financial situation, risk tolerance, and investment strategy of each person vary. Synthetix is inherently volatile and the price can rise or drop at a moment’s notice, this brings advantages as it does risks. Both of which are important to understand and weigh against your own investment goals and needs. Only invest money you can afford to lose and balance out the risky nature of crypto investment by building a diversified portfolio.
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Disclaimer – This content is for informational purposes only and is not investment advice. The trading of Synthetix and other alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.