This article was last updated on August 15, 2022
Synthetix is a huge prospect that you might not have heard of before. However, its cryptocurrency – SNX – is swiftly growing. The project recently got into the top 100 cryptocurrencies by market cap. Because of this, we want to share with you our price predictions for Synthetix (SNX) for the years from 2022 to 2030.
The DeFi project has a lot to offer when it comes to utility, which is exactly what we will be covering in this article.
And if you are new to the cryptocurrency world, we highly suggest checking out our dedicated article for crypto beginners. Once you read it, you will have a great foundation and an easier time navigating through the crypt space.
Over the past week, the price of Synthetix (SNX) remained around $3.75. The circulation supply is 114 million tokens. The market cap went up to $431 million.
Table of contents
- What is Synthetix (SNX)?
- Will SNX Reach $50?
- SNX Price Prediction For 2022 – 2030
- 2022 – Synthetix (SNX) Price Prediction
- 2023 – Synthetix (SNX) Price Forecast
- 2024 – Synthetix (SNX) Prediction
- 2025 – Synthetix (SNX) Forecast
- 2026 – Synthetix (SNX) Price Prediction
- 2027 – Synthetix (SNX) Forecast
- 2028 – Synthetix (SNX) Price Forecast
- 2029 – Synthetix (SNX) Prediction
- 2030 – Synthetix (SNX) Price Prediction
- Our Opinion On Synthetix (SNX)
What is Synthetix (SNX)?
Synthetix is a project described as a decentralized finance (DeFi) protocol. It provides on-chain access/exposure to a huge list of crypto and non-crypto assets. This makes it an innovative project that might be key to the future of the crypto world.
The project is based on the Ethereum blockchain, mainly because of the diversity of blockchains and interoperability found there. Users can access the so-called “highly liquid synthetic assets” or “synths”.
Essentially, synths track and deliver returns on specific assets without the necessity of holding the asset directly. This is what makes it attractive to a number of investors.
The mission of the platform is to bring a financial market powered by crypto while also allowing users to interact with non-blockchain assets.
In that line of thought, Synthetix is also a decentralized exchange (DEX). The native token of the network is SNX. The SNX tokens are used as collateral for the previously mentioned “synths”. Users can also stack their SNX tokens, for which they are rewarded with a share of the transaction fees that happen on the DEX.
As for the synths, whenever someone issues one, an appropriate amount of SNX tokens are locked up through the use of smart contracts. This way, fraudulent activity can be avoided.
Will SNX Reach $50?
Synthetix is a project that comes with a lot of utility. This is what many investors love about it. Owners are optimistic about the development of the network once the market stabilizes. That’s why so many believe the price will not only reach $50 but go beyond and reach its past glory.
However, let’s think about it for a moment. The current price of Synthetix is around $3.25, which is far away from its previous all-time high of $26.45. This means it will need a 15x increase in order to reach a price evaluation of $1. With a current market cap of $373 million, this will result in a new market cap of more than $5.6 billion.
This is perfectly doable once the market stabilizes and crypto sees more adoption. However, this will not happen anytime soon. It will probably happen in the distant future (more towards the end of the decade).
Of course, there are many factors that will after the price of SNX. For example, this will be the future development of the project. There are a lot of networks that somehow get popular and then dip out. However, considering the mission of Synthetix, this will probably not happen.
Nevertheless, the project will need to get more exposure and rise in popularity. If it does that, it can easily climb up to the top 50 cryptocurrencies by market cap.
Another thing is that we will first need to see market stabilization. This will happen after the military conflicts in Europe get resolved. Until then, the market will proceed to be chaotic and bearish.
So when is Synthetix going to reach $50? It will take at least 5 more years, or even 6, if we are being conservative.
Related: Can Aurora Reach $50?
SNX Price Prediction For 2022 – 2030
Synthetix’s future price is difficult to predict as it is reliant on a number of factors, including the performance of the Synthetix network, global economic conditions, and the price of other cryptocurrencies. However, if Synthetix continues to grow as a network at its current rate, it is possible that the price evaluation for SNX could easily go back to its past prime and probably around the price of $10 by the end of 2022.
This would be a significant increase from its current price of around $3.25, but would still be way below its all-time high of $26.45, reached in February 2021. While Synthetix’s future price is impossible to predict with certainty, we are eager to share with you our analytical forecast.
Keep in mind that these are mainly speculations, although supported by facts and other somewhat solid factors. With that being said, let’s head on to the interesting part.
2022 – Synthetix (SNX) Price Prediction
Some of the financial industry’s top names have lent their weight to Synthetix’s price prognosis. The number of collaborations and events with the cryptocurrency sector demonstrates that many people are confident in cryptocurrency.
According to that and to Synthetix’s performance over the past year, it may achieve a tremendous boost by year’s end, unlike other significant coins like Bitcoin and ETH, and go through the $10 market again, which will get it closer to its previous heights.
Of course, there’s the scenario that we experience further world conflicts that can affect the crypto market. In that case, we can expect SNX to drop in price. No one can say for sure how low it may go, but we can easily see it dropping to around $1.52-$1.84.
2023 – Synthetix (SNX) Price Forecast
Many analysts have made Synthetix price predictions for 2023, and the general consensus is that the price of Synthetix will continue to rise. This is based on a number of factors, including the increasing use of Synthetix’s technology, the growing popularity of crypto, and the overall positive outlook for the global economy.
While it is impossible to say exactly what the price of Synthetix will be in 2023, most experts agree that it has the potential to reach new heights.
More realistically, we can expect the price of Synthetix to reach $15.65-$16.45 by the end of 2023.
2024 – Synthetix (SNX) Prediction
If the growth for Synthetix continues, we can easily see it getting massive adoption. Our price prediction for 2024 is as conservative as possible in order not to misguide you.
We believe that by the end of 2024, the price of Synthetix will reach at least $20. If we let ourselves be a bit more speculative, we’d raise it to $22.45, bringing it closer and closer to its previous peak.
2025 – Synthetix (SNX) Forecast
According to many Synthetix enthusiasts and their price predictions, SNX prices may rise dramatically in the trading range between $27.75 and $29.61.
However, the most realistic expectation is for a midpoint of these price levels. With widespread adoption, SNX price prediction as a cheap and convenient digital asset might become a reality.
For this scenario, we must also consider that the Synthetix network can significantly expand and develop. In that case, prices may even go as high as $35, but that is quite ambitious.
As for a worse scenario, there are many things we cannot predict. Such is any global military, environmental, pandemic, financial, and other similar issues.
But let’s explore what we have at hand. If yet another Synthetix competitor arises, things can definitely go south for Synthetix. Another thing that can happen is if there’s any change in the network’s operation. This can include a change of CEO, developers, other team members, etc. If that happens, we can see the price of Synthetix dropping by 50-70%, meaning it will go for about $8.42-$9.65.
2026 – Synthetix (SNX) Price Prediction
Keeping our conservative approach, we won’t try to make ridiculous price predictions for Synthetix. Although many believe that by 2026 the price of SNX will be at least $40, we’d give a different value.
2026 is actually not too far away, but in terms of crypto, it is. We believe that Synthetix will be evaluated at anywhere between $32.80 and $36.85.
2027 – Synthetix (SNX) Forecast
As the years go by and Synthetix continues its expansion and proves its utility, we can easily see it going for as much as $45. However, if we are being more realistic, the price might remain moving sideways, as that is a hefty growth.
By that, we mean that SNX will be evaluated at around $41.90 – $43.45, surpassing its previous all-time high. We think the lower spectrum of our price prediction will be more accurate than the higher. Yet, as we all know, the crypto market is quite unpredictable, so we will have to wait and see.
2028 – Synthetix (SNX) Price Forecast
In 2028, if Synthetix comes out with new projects and experiences further adoption, we can see it potentially going out from the 40s and reaching a price of $50.63 – $52.21. However, this is mostly optimistic.
On the lower end, we can see SNX being worth around $48.92 while, on average, remaining at around $51.11.
2029 – Synthetix (SNX) Prediction
For the last year of the decade, we believe that cryptocurrencies will have settled in for the most part. By that, we mean that tokens will be nothing out of the ordinary anymore. Not only crypto but all sorts of crypto projects too – NFTs, dApps, etc.
As such, we think Synthetix will be moving at around $55.54 to $56.49 easily, although we can also see it reaching the $60 mark.
2030 – Synthetix (SNX) Price Prediction
Crypto price predictions are always difficult, as the cryptocurrency market is highly volatile. Even more so when we are talking about 8 years into the future.
Some experts have forecast that Synthetix’s price could reach up to $62.43 by 2030. This would be a significant increase from its current price of around $3.25. However, it is important to remember that Synthetix is growing, and so is its adoption rate, utility, and potential.
In addition, the current global economic situation could also lead to an increase in the price of Synthetix, as more investors look to cryptocurrencies as a safe haven for their money. Only time will tell whether this price forecast comes true, but Synthetix certainly seems to have a bright future ahead.
That is unless we see global frames in which cryptocurrencies have to operate in the future. What we mean here is that countries could start incorporating restrictions. There already are some countries like Qatar, China, Turkey, etc.
If that happens, we can see many of the tokens we all love and know drop down by a lot. This might even mean the end of cryptocurrencies as we know them.
For Synthetix, if that happens, we can easily make a price forecast that SNX can drop in value by 90%. To be more specific, this might mean a price evaluation of less than $6.15. On a brighter note, this is highly unlikely, even though not impossible.
Our Opinion On Synthetix (SNX)
Given the Synthetix price today, we can make lots of speculations. However, when making a price prediction or looking at one, you must stay completely aware that most of the time, it is completely off.
Although we kept a conservative approach with our average forecast price, you should still take this prognosis with a grain of salt.
Synthetix is certainly a great project with huge potential, which makes us believe that it will survive throughout the years. Not only that, but if we see it live through, it is most likely going to be a project that the majority of blockchain networks adopt due to Synthetix’s utility.
Overall, although we believe Synthetix will certainly be bullish and we believe in our speculations, we can never be certain.
Taking all of the above into consideration, it would appear that SNX is a very promising investment. The price predictions for SNX are exceptionally positive, and the coin does have a lot of potential.
Of course, as with any investment, there is no guarantee that SNX will reach the predicted price points. However, if you are looking to invest in cryptocurrency, SNX is definitely worth considering.
There aren’t too many unique projects that have been coming out these days. Most are looking to give solutions to problems that do not exist. Others are looking to create problems in order to give solutions to irrelevant sectors of the crypto market.
That is definitely not the case with Synthetix. The network will definitely keep growing and expanding its adoption. Even if the general public does not take better notice of Synthetix anytime soon, huge companies are already working hand in hand with Synthetix to better their operations.
We will keep an eye on the development of Synthetix and how it performs. Its potential, in tandem with our price predictions, makes us keen to see what lies in the future for Synthetix.
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The price of Synthetix (SNX) will be around the $30 mark.
We believe that Synthetix (SNX) is a good investment for a couple of reasons. The main one is that it is quite innovative in what it is trying to bring to the crypt world. Having access to non-blockchain assets is crucial for the future of the industry. The point is to be able to use cryptocurrencies the same way you can use fiat currencies. Synthetix seems to be tackling exactly that issue.
Synthetix (SNX) is currently on the rise because it is gaining attention as an innovative and unique project. Because of that, you can expect to see Synthetix more and more from now on. Don’t be surprised if it reaches the top 50 list by the end of the year.
We believe that Synthetix (SNX) is a project that will remain part of the crypto market for a long time. However, keep in mind that we cannot predict unexpected circumstances that might appear. These can be regulations, issues with the team, etc.