The highest price of Synthetix (SNX) was $28.88, reached on September 2, 2021.
Synthetix is a decentralized finance (DeFi) protocol that allows users to trade synthetic assets, which are tokens that track the price of real-world assets like stocks, commodities, and currencies. SNX is the native token of the Synthetix platform and is used for various functions, including:
- Staking: Users can stake SNX to secure the network and earn rewards.
- Minting: SNX holders can mint synthetic assets by locking up their SNX as collateral.
- Governance: SNX holders can participate in governance proposals and vote on changes to the protocol.
The price of SNX has fluctuated significantly over time, influenced by factors such as market sentiment, adoption of DeFi, and the overall cryptocurrency market.
While the historical high of $28.88 is a notable milestone, it's important to remember that past performance is not indicative of future results. The price of SNX is subject to market volatility and may fluctuate in the future.
