The decentralized finance (DeFi) landscape continues to evolve, and Synthetix Network (SNX) remains a pivotal player in the space. As of the latest market update, SNX is showing strong momentum in the Indian cryptocurrency market, attracting attention from investors and traders alike. This article provides a comprehensive look at the current Synthetix Network price in INR, recent market trends, supply metrics, and what these figures mean for potential investors.
Current Market Overview
As of the latest data update, Synthetix Network (SNX) is trading at ₹231.71, reflecting a 2.80% increase over the past 24 hours. This upward movement signals growing investor confidence and active trading interest in the Indian market.
👉 Discover how DeFi tokens like SNX are shaping the future of digital finance.
Key Market Metrics (24-Hour Snapshot)
- 24-Hour Low – High: ₹211.19 – ₹241.03
- Price Change (24H): +₹6.32
- Price Change Percentage (24H): +2.80%
- Market Cap Change (24H): ₹2,12,86,81,819 (+2.95%)
- Current Market Cap: ₹74,32,91,29,182
- 24-Hour Trading Volume: ₹7,14,89,46,034
These figures indicate strong liquidity and market activity, suggesting that SNX is not just holding its ground but gaining traction among Indian crypto enthusiasts.
Understanding Synthetix Network Supply Metrics
To fully grasp the value proposition of SNX, it's essential to understand its tokenomics and supply structure.
Circulating Supply
The circulating supply of SNX stands at 320,830,118.13 tokens. This refers to the number of tokens currently available in the market and in public hands. Unlike traditional stocks, where shares are issued by a company, cryptocurrency tokens are often released through mining or protocol incentives.
Max Supply and Total Supply
- Max Supply: 321,554,026.08
- Total Supply: 321,554,026.08
Synthetix has a nearly fixed max supply, meaning the protocol is designed to limit the total number of tokens that will ever exist. This scarcity can contribute to long-term value appreciation, especially as demand increases within the DeFi ecosystem.
Fully Diluted Market Cap
The fully diluted market cap (FDMC) is calculated by multiplying the current price by the max supply, resulting in ₹74,49,68,42,388. This metric helps investors assess the potential future valuation if all tokens were in circulation.
Historical Price Trends (Last 7 Days)
Tracking historical data offers valuable insights into price behavior and market sentiment.
Date | Price (INR) | Trading Volume (INR) | Market Cap (INR) |
---|---|---|---|
25/07/2023 | ₹225.32 | ₹3,20,67,63,431 | ₹72,20,04,47,364 |
24/07/2023 | ₹227.10 | ₹4,60,81,20,359 | ₹72,69,52,35,791 |
23/07/2023 | ₹237.49 | ₹5,67,25,09,305 | ₹76,20,38,42,935 |
22/07/2023 | ₹244.47 | ₹4,72,64,08,659 | ₹78,39,67,09,861 |
21/07/2023 | ₹245.49 | ₹9,64,54,94,549 | ₹78,73,01,76,618 |
20/07/2023 | ₹237.75 | ₹11,79,91,46,894 | ₹76,30,15,71,105 |
19/07/2023 | ₹223.02 | ₹5,79,92,75,629 | ₹71,32,38,31,035 |
A clear trend emerges: SNX experienced a peak on July 21, reaching nearly ₹245.50 before correcting slightly. The high trading volume on July 20 and 21 suggests significant market activity—possibly driven by DeFi news or broader crypto market movements.
What Is Synthetix Network?
Synthetix is a leading decentralized synthetic asset platform built on Ethereum. It enables users to mint and trade synthetic versions of real-world assets—such as stocks, commodities, currencies, and cryptocurrencies—without owning the underlying asset.
For example:
- sBTC: A synthetic Bitcoin token
- sETH: Synthetic Ethereum
- sUSD: A USD-pegged stablecoin
- sTSLA: Synthetic Tesla stock
These assets are backed by SNX tokens staked within the protocol. Stakers earn rewards through inflationary token issuance and trading fees.
👉 Learn how synthetic assets are revolutionizing investment accessibility in DeFi.
Why Is SNX Gaining Popularity in India?
India’s crypto adoption has surged in recent years, with increasing interest in DeFi protocols like Synthetix. Several factors contribute to SNX’s appeal:
- Exposure to Global Assets: Indian investors can gain exposure to U.S. stocks or precious metals without traditional brokerage accounts.
- High Yield Opportunities: Staking SNX offers attractive returns through network rewards.
- Transparency and Decentralization: The protocol operates without intermediaries, aligning with the ethos of blockchain technology.
- Growing DeFi Awareness: Educational content and community growth have made complex protocols more accessible.
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Frequently Asked Questions (FAQ)
Q: What is the current price of Synthetix Network (SNX) in India?
A: As of the latest update, SNX is trading at ₹231.71 in Indian Rupees.
Q: How has SNX performed over the past 24 hours?
A: SNX has increased by 2.80% in the last 24 hours, with a price change of +₹6.32.
Q: What is the circulating supply of SNX?
A: The current circulating supply is 320,830,118.13 SNX tokens.
Q: Can I stake SNX in India?
A: Yes, Indian users can stake SNX through compatible DeFi wallets and platforms to earn rewards from trading fees and inflationary emissions.
Q: What factors influence SNX price movements?
A: Key factors include DeFi adoption rates, staking participation, demand for synthetic assets, overall crypto market trends, and macroeconomic conditions.
Q: Is Synthetix a good investment in 2025?
A: While past performance doesn’t guarantee future results, Synthetix’s role in enabling synthetic asset trading gives it strong fundamentals within the DeFi space. Investors should conduct thorough research and consider risk tolerance before investing.
Final Thoughts
Synthetix Network continues to demonstrate resilience and innovation in the fast-paced world of decentralized finance. With a solid foundation, transparent tokenomics, and growing global adoption—including in India—SNX remains a compelling option for investors interested in synthetic assets and DeFi staking.
Whether you're tracking SNX price today, analyzing historical trends in INR, or exploring staking opportunities, staying informed is key to making strategic decisions in the crypto market.