Synthetix Network (SNX) Price Prediction for 2020-2025
Synthetix is a protocol for the release of synthetic assets, runs on the Ethereum blockchain. In essence, this project developed the idea of stablecoins, adding the ability to create a digital copy of any asset, both fiat currency and precious metals. Moreover, the value of a synthetic asset is tied to the price of a real asset.
What are the prospects of the Synthetix Network token and the project? Is it profitable to buy SNX coins now? You can find out below. If you are ready to invest right now, check the listed assets via Changelly.
Synthetix Network (SNX) Fundamental Value
Synthetix is an Australian project, founded in 2016. The creators of the project went further and developed a system of 2 tokens:
Synthetix Network Token is a token that provides liquidity in the system;
Synths is a token whose value is tied to the price of a real asset (fiat, precious metals, company shares).
In theory, this decision should promote the popularization of the crypt as a whole, and facilitate investment in various types of assets. Through Synth tokens, it will be possible to invest in currencies, precious metals, stocks.
The scheme works as follows:
SNX tokens are the basis of the Synthetix system operation; without them, s-tokens cannot be issued. Synth tokens can only be issued with a non-zero balance of the main wallet;
s-tokens are issued through a smart contract. In the Mintr application, sUSD is selected and, depending on the specified amount, the smart contract blocks a certain number of SNX coins, with leverage of 1×7.5. If there are 1000 SNX coins on the wallet, and the exchange rate is $0.75, then you can issue no more than 1000×0.75/7.5=100 sUSD;
Blocked SNX data is written to XDR (Synthetix Drawing Rights). XDR acts as a regulator and does not allow excessive course fluctuations;
after that Synthetix smart contract informs Synth smart contract exactly how many s-tokens need to be issued.
SNX – the main coin, used as an entrance ticket for working with Synth tokens;
traded on KuCoin, Liquid, Gate.io, Kyber Network;
work with s-tokens is carried out through Synthetix Exchange’s own platform.
As for the exchange rate, in 2019 this coin showed impressive growth. Since January 2019, the cost of SNX has grown from $0.045 to $1.5 in December. In 2020, the price of the coin is gradually falling. However, the price is not so low now, $0.45.
According to the forecast system, SNX is an awesome long-term (1-year) investment. The Synthetix Network Token price can go up from 0.453 USD to 1.510 USD in one year. The long-term earning potential is +233.23% in one year. In 2022, the price will go up to $2.52. In 2023, the price of SNX can reach $3.53. By March 2025, Synthetic Network Token can be around $5.809.
#2. Digital Coin Price SNX Price Forecast for Next 5 Years
According to the source, Synthetix Network Token (SNX) is a profitable investment. In 2021, the price may reach $1.15. The price will double by the end of 2025 and can reach $2.28.
As you can see, Synthetix Network Token is a penny-worth profitable investment that has an earning potential of 233 percent. We’ll be glad to see the token in our listing. However, we can offer you a wide range of cryptocurrencies which you can purchase via Changelly.