Synthetix Network Token Price Analysis and Forecast

As a pioneer in the DeFi synthetic asset space, Synthetix Network allows users to trade synthetic assets such as stocks and commodities without the need to hold the underlying physical assets through the SNX token collateral mechanism.

The protocol was founded by Kain Warwick in 2017 (initially named Havven) and rebranded to Synthetix in 2018. Its core values are based on three aspects: collateralized generation of synthetic assets (such as sUSD), governance voting rights, and trading fee dividends (recent proposals have increased the distribution ratio to 80%).

SNX Market Performance and Token Distribution

As of July 1, 2025, the real-time price of SNX is $0.569, with a 24-hour decline of 2.86%, and a market capitalization of $196 million, ranking 185th in the cryptocurrency rankings.

Significant fluctuations in the past month: Although there was a single-day surge of 7%, affected by the decoupling issue of the stablecoin sUSD (current price 0.948 USD), the cumulative decline over 30 days reached 21%.

The historical high point of SNX was $28.77 in February 2021, and the current price has fallen 97.58% from that high; while compared to the historical low point of $0.0325 in January 2019, it has risen over 2038%.

The current circulating supply of the SNX Token is 343.47 million. In the initial allocation: 20% belongs to the team and advisors, 3% is used for marketing rewards, 5% is allocated to partners, and the remaining is released through public offerings and staking.

Multi-dimensional Price Prediction

• Short-term (End of 2025): The market’s average expected price is $2.15, with a fluctuation range of $2.52 - $4.37. If the Layer2 upgrade reduces fees by 90% as expected, it may stimulate demand to break through the upper limit.
• Mid-term (2028): If the technical aspect breaks through the wedge resistance at $1.82, it is expected to start a long-term upward trend, with an average predicted price of $9.44, reaching a high of $10.07.
• Long-term (2031): With expectations of the synthetic asset category expanding to over 50 types, the price range is $15.11 - $16.37, with a potential increase of over 2200% compared to the current price.

Be aware of correlation risks: SNX and Bitcoin price The correlation coefficient reached 0.72, and the systematic decline in the market may drag down its performance.

Three Major Engines for Future Development

Technology Upgrades Drive Efficiency Improvements

Integration Polygon The zkEVM network has entered the testing phase, expected to reduce transaction costs by 90% and address the pain point of Gas fees.

Cross-chain and Asset Diversification

It is expected to be implemented in Q3 2025. Polkadot Cross-chain synthesis of ecological assets, with the addition of commodities such as gold and crude oil, expanding the asset categories from 30 to over 50.

Regulation and Risk Balance

The compliance of synthetic assets remains a global regulatory focus. Recently, the project has enhanced transparency through an on-chain voting mechanism and introduced an insurance fund to mitigate liquidation risks. Against the backdrop of an annual growth rate of over 40% in the synthetic asset sector, the success or failure of SNX will depend on whether its V3 permissionless protocol upgrade can be implemented, and whether the sUSD stability mechanism can be repaired.

With the advancement of the Perps V2 futures contracts and the Synthetix V3 protocol upgrade, whether SNX can return to the $10 mark is a test of its technical iteration and ecological collaboration capabilities.