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TürkçeSynthetix Network Information
Synthetix Network is a decentralized finance platform that enables the creation and trading of synthetic assets. These synthetic assets can represent a wide range of both real-world and digital assets, providing users with greater exposure and flexibility in their trading strategies. The platform leverages smart contracts on the Ethereum blockchain to ensure transparency and security, fostering a robust ecosystem for user participation.
Understanding Synthetix Network: A Decentralized Finance Pioneer
Synthetix Network, recognized by its symbol SNX, has positioned itself as a significant player in the decentralized finance (DeFi) space. Unlike traditional cryptocurrencies, Synthetix offers something unique: a platform for the creation and trading of synthetic assets. This feature underlines the revolutionary aspect of Synthetix, as synthetic assets enable exposure to real-world assets on the blockchain.
Advantages of Synthetix Network
The primary advantage of Synthetix is its ability to facilitate the trading of derivatives on Ethereum's blockchain. This allows users to trade a variety of synthetic assets, which are backed by SNX tokens. The decentralized nature reduces counterparty risk, as trades occur on a blockchain network.
Additionally, Synthetix provides users with enhanced liquidity. By offering a system where anyone can participate and stake their SNX tokens, the platform supports a high volume of transactions without the disruption commonly found in traditional markets. The continuous growth of the DeFi sector only strengthens Synthetix's position within it, offering robust opportunities for innovation and financial experimentation.
Challenges and Drawbacks
Despite its advantages, Synthetix Network faces certain challenges. One major concern is the complexity involved in using the platform. New users often find it challenging to navigate due to the steep learning curve associated with DeFi platforms.
Additionally, the network's dependency on the Ethereum blockchain means it is subject to the same scalability issues that have plagued Ethereum, such as high transaction fees and slower processing during peak times. Moreover, like any DeFi project, Synthetix is vulnerable to security risks, such as smart contract breaches, which could have serious implications for users.
A Look Back: Historical Performance
Since its inception, Synthetix has exhibited a dynamic volatility characteristic of the broader cryptocurrency market. Launching at an all-time low (ATL) of $0.0347864 in January 2019, SNX surged to an all-time high (ATH) of $28.53 in February 2021, demonstrating its potential for significant value appreciation.
The growth trajectory of SNX can largely be attributed to the growing popularity of DeFi protocols during that time, alongside the platform’s continuous development efforts. Nonetheless, like many cryptocurrencies, SNX has experienced a bear market retreat, as its current price reflects a substantial decrease from its peak.
Future Prospects of Synthetix Network
Looking ahead, Synthetix Network's future appears promising given the projected expansion of the DeFi industry. As more financial applications move to blockchain networks, Synthetix’s ability to offer synthetic asset trading will likely attract more users and liquidity to its platform.
The platform’s development team actively works on layer-2 scaling solutions to address current transaction limitations, which, once fully implemented, could significantly enhance the platform's efficiency and user experience.
However, the future for Synthetix, like other cryptocurrencies, remains intertwined with regulatory developments. Increased scrutiny from financial regulators could impact the operations and user adoption of DeFi projects, including Synthetix Network.
Conclusion
Synthetix Network has undeniably cemented its position as a quintessential component of the DeFi landscape. With its innovative approach to synthetic asset trading and active community, Synthetix continues to evolve and adapt to the needs of its users. While challenges remain, strategic enhancements and the growing DeFi sector offer fertile ground for Synthetix's further development and potential mainstream adoption.
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from price
$2
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General Information |
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Title
Synthetix Network
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Symbol
snx
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Whitepaper
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Website
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Community
-
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Last Updated
2025-01-21 23:51
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Price Data |
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Current Price $
1.72
$
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High 24h
1.77
$
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Low 24h
1.55
$
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Price Change 24h
0.100206
$
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Price Change % 24h
6.18918
%
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Market Data |
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Market Cap
584079899
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Total Volume
45599743
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Market Cap Change 24h
34935514
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Market Cap Change % 24h
6.36181
%
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Return on Investment (ROI)
243.85286485503
%
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Supply and Availability |
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Circulating Supply
339466216.9904
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Total Supply
339889850.08877
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Max Supply
339889850.08877
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Historical Data |
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All Time High (ATH)
28.53
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ATH Change %
-93.97732
%
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ATH Date
2021-02-14 01:12
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All Time Low (ATL)
0.0347864
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ATL Change %
4839.88834
%
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ATL Date
2019-01-06 00:00
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