SNX Price Performance & Trading Updates (2025)
Recent Exchange Developments
Bithumb Announcement (May 2025):
- Extended SNX trading warning status through late June
- Requires additional compliance review for continued listing
Korean Exchange Actions:
- DAXA member platforms (Upbit, Bithumb) conducting extended due diligence
- Temporary deposit suspensions remain in effect
Platform Migration Updates
Synthetix 420 Pool Transition:
- Legacy SNX staking positions liquidated
- Recoverable positions require migration before 6-month deadline
- New features: Perps v4 support, automated Vaults coming soon
👉 Track SNX price movements in real-time
Historical SNX Price Volatility (2024)
Notable Market Events
| Date | Event | Impact |
|---|---|---|
| Aug 2024 | Former Synthetix exec liquidation | 100% SNX loss reported |
| Jun 2024 | Coinbase NY SNX suspension | Regional restrictions |
| May 2024 | Binance pair removals | Reduced trading options |
Whale Activity Analysis
$210M sell-off (July 2024):
- Caused 7.4% price drop despite $6.2B market cap
- Demonstrates liquidity sensitivity
SNX Ecosystem Fundamentals
Token Utility
Collateral Mechanism:
- 750% collateral ratio for sUSD minting
- Debt pool shared across all synthetic assets
Project Evolution
From Havven to Synthetix:
- 2017: Launched as payment network
- 2018: Pivoted to synthetic assets
- Current: Supports derivatives, commodities, forex
👉 Explore SNX staking opportunities
FAQ: SNX Investor Questions
Q: Why are Korean exchanges reviewing SNX?
A: Primarily due to sUSD stability concerns during protocol upgrades.
Q: How does SNX staking work?
A: Users lock SNX to mint sUSD, earning fees and inflation rewards.
Q: What's the risk in synthetic assets?
A: Debt pool exposure means all stakers share price fluctuations.
Q: When did SNX reach its ATH?
A: January 2021 at $28.77 during DeFi summer (CoinGecko data).
Q: How does Synthetix generate revenue?
A: Through 0.3% trading fees distributed to stakers.
Market Data Summary
- Current Price: $1.84
- 24h Volume: $4.06M
- Circulating Supply: 150M SNX
- Market Cap Rank: #85 (approx.)
Data reflects conditions as of May 2025
For continued monitoring of SNX's evolving market position and protocol developments, consult trusted exchanges and Synthetix's official communications channels.