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Synthetix (SNX) Price Prediction for 2021

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Synthetix Price Prediction 2021
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Synthetix (SNX) is one of the most popular and most successful decentralized finance (DeFi) projects in the crypto space. It’s not surprising the project attracts many investors and speculators who’re curious about SNX price performance in the future.

In this article, we are going to discuss the Synthetix (SNX) price prediction for 2021 by several reputable sources. As part of our norm, we have gone as far as getting various forecasts from many crypto price prediction websites, YouTube, and crypto influencers on Twitter.

Synthetix itself is primarily a decentralized exchange where you can trade cryptocurrencies. It is also a platform for the issuance of synthetic assets, which makes the project a bit special than the others in the market. Below you can find some basic info about the project, and if you want to learn all the details, you can read our Synthetix guide.

What is Synthetix (SNX)?

synthetix-platform

Synthetix is an Ethereum based DeFi ecosystem that acts as a decentralized exchange (DEX) and as an issuer of assets.

These synthetic assets can track the price of any other asset, whether it is currencies, bonds, equities, commodities, or even other cryptocurrencies.

If it has a real-world value, then the Synthetix platform will permit a synthetic asset to be built to track that asset’s price. The maintenance of the system is in the form of staking.

The process behind the Synthetix is like the one stablecoin uses to maintain its pegged value. The only difference is that instead of a single stablecoin, Synthetix will allow users to mint a synthetic asset backed by the SNX token.

Synthetix (SNX) Price Predictions 2021

snx-2021

When the Synthetix (SNX) was launched, the trading price was less than $1, but the story has changed today.

Synthetix has been rising steadily since it was rebranded in 2018 and the SNX token was launched. The token didn’t take off until the founder introduced a change in monetary policy.

From our observance of the various predictions, we saw that most of them were made based on the SNX’s historical price chart.

In contrast, others used technical analysis to arrive at their prediction. Let’s take a look at the various Synthetix (SNX) forecast for 2021.

SNX Price Forecasts on Cryptocurrency Websites

Top crypto prediction websites have dropped their ideas on the Synthetix (SNX) future price. Here are some of them.

WalletInvestor’s Forecast

Walletinvestor experts have given their opinion on the year’s Synthetix price—the top prediction website based their forecast on technical analysis by artificial intelligence.

The experts behind this website think that SNX is an excellent long-term (1 year) investment, and if you are looking for cryptos with a good return on investment, Synthetix can be a profitable investment option.

From their SXN prediction, the average price of the token by the end of 2021 would be $73.50. They went further to forecast that the token’s minimum price would be $71.29, with the maximum at $75.64.

The long-term earning potential of the SNX token over a year is projected to be around 288%.

Considering the price of Synthetix (SNX) last year, you will agree that this platform is highly optimistic and very bullish.

Long-term-snx-forecast

Predictions by Crypto Rating

This website is known for cryptocurrency price predictions on many different coins.

The Crypto Rating experts based their prediction on the reading of the CVIX and all-encompassing data of historical price behavior, the prospects of the project’s future development.

From their analysis, they think that the price of Synthetix (SNX) will reach $50 by the end of the year.

This is yet another platform that is seeing a bullish run. Considering the factors they put into consideration in their prediction, it shows that the guys behind Crypto Rating are highly optimistic about Synthetix (SNX).

SNX Forecast by Tradingbeasts

The website’s available information shows that Tradingbeasts based its Synthetix (SNX) prediction on historical price data and using a combination of linear and polynomial regressions.

The crypto prediction website, which has been predicting the price of cryptos for years, forecasts that the price of the Synthetix (SNX) will reach $22.66 (maximum price) at the end of 2021. They also predicted the minimum price, which is $18.13.

From their Synthetix (SNX) price prediction, we can deduce that the analyst on the website is neutral in the coin’s investment suggestions.

Although, they always say that their predictions are merely a suggestion and not intended to be used as investment advice.

Digitalcoinprice’s SNX Price Prediction

The analyst at Digitalcoinprice, who specializes in crypto forecasting, has unveiled their Synthetix (SNX) price prediction for 2021.

In their forecast, they agreed with Walletinvestor that the token would have a bullish run in 2021. Using their price prediction algorithm, they predict that the Synthetix (SNX) price will reach $32.41.

All their Synthetix (SNX) price prediction for the subsequent years shows an upward movement which solidifies their stance on Synthetix (SNX).

snx-price-forecast-2021

Changelly’s Take on Synthetix (SNX)

From their prediction, the price of SNX will increase to $2.52 in one year. But considering the forecast’s timestamp, we advise that you take this prediction with a pinch of salt.

Looking at their prediction, you could see that the SNX price has surpassed that, meaning that their SNX prediction is outdated.

But, one thing that the prediction website agreed with others was the bullish run.

Not So Bullish Forecast by Coinarbitragebot

The Coinarbitragebot forecast gives a bearish price movement for a short-term investment on the SNX token.

In contrast, it provides a bullish price movement for a long-term investment.

The experts on the platform are neutral on a 1-year investment in Synthetix (SNX).

According to their forecast, the price of Synthetix could be $15.58 at the end of the year 2021. Also, it could rise beyond that in the subsequent years.

The prominent crypto prediction website that based its prediction on the Synthetix network token historical price data is unsure about the token’s future.

So, they can’t offer any investment advice on the digital currency as they do to some other coin

Cryptocurrencypriceprediction’s Forcast for 2021

The experts on this website have made their Synthetix (SNX) price prediction for the year. The website, which usually bases its forecasts on cryptocurrencies’ historical price chart, has given the nod to the crypto.

The Cryptocurrencypriceprediction forecast expects a bullish run in the crypto this year. From their prediction, the SNX token would reach $42.19 at the end of 2021.

From their forecast, we could notice that they are optimistic that the coin will be a profitable 1-year investment.

Even their Synthetix (SNX) price forecast for successive years shows a bullish run, which shows their level of optimism on the coin.

Gov.capital Expects $70 Per SNX

Gov.capital is another crypto prediction website that has dropped its bullish Synthetix (SNX) forecast. The site-based its forecast on a custom algorithm that is based on deep learning that helps users to decide if SNX is a profitable investment.

Their prediction considers so many factors like volume change, price change, market cycle, similar coin, etc.

Although the site’s forecast is sometimes outdated (like a few years back forecasts), they think that the Synthetix token will trade at an average price of $70.02 at the end of the year.

They went further to predict that the coin will have a minimum price of $59.52 and a maximum price of $80.53.

That is a staggering 285% return on investment when you consider the current trading price.

Looking at their prediction, we could deduce that they already see the SNX token as a profitable future investment.

Pickacrypto’s Synthetix Prediction

According to Pickacrypto, cryptocurrencies’ future prices can be forecasted using support/resistance, trendlines, moving averages, and simple indicators like the RSI.

These are most of the tools that the website uses in its crypto predictions. Through current trends, investor sentiment, and the cryptocurrency market’s overall direction, the analysts at the site think that SNX will be worth around $18 during mid-2021.

However, analysis of their prediction creates a bit of confusion; that’s whether it will be a rise or fall. A critical study of their prediction shows that they believe that the coin will have a bullish run this year.

SNX Price Predictions for 2021 on Twitter

Having given you the Synthetix (SNX) price forecast from different websites, let’s look at the individual predictions from Twitter. This will help you in making investment decisions as regards Synthetix token.

@jackchantw

The crypto predictions from this user caught our eyes. In his tweet, he forecasted the price of different coins for 2021.

He predicted that the SNX price would reach $100 before the end of the year.

Just like the predictions above, he thinks that the coin will have a bullish run this year. You can also check the comments about his predictions from users.

@Rune_Mogollon

The user has made his crypto price prediction for the year. In his tweet, he predicted the price of different cryptocurrencies for the year 2021.

From his prediction, he agrees that the coin price will increase before the end of the year. His SNX price forecast for 2021 is $60.

Rune_Mogollon’s prediction drew a lot of comments, with most people criticizing his predictions.

While some think that his forecast is way higher than expected, others feel that he undervalued most of the coins.

Above all, he has made his predictions for the year, and we think it is his personal opinion.

@Matt_Bitcoin

According to Matt_Bitcoin, the SNX price will rise to $955 by the end of the year. This Twitter user based his predictions on the cryptos’ historical price data.

However, his SNX forecast faced lots of criticisms as overly bullish and unrealistic.

@MukunBTC

The Twitter user made so many price predictions for different coins. But the one we want to talk about is the SNX prediction.

The Twitter user predicts that SNX price will reach $100 by the end of 2021.

The user seems to agree with Jackchantw on his prediction. However, his predictions drew some negative comments.

@defitimes

DeFi Times, a crypto blog that talks about decentralized finance on Ethereum, Polkadot, etc., has made different coin predictions for the year.

According to their forecast, SNX price will reach $700 by the end of the year – that’s really amazing, right? It is the second-highest prediction we have encountered so far.

And such prediction coming from a popular crypto blog begs a lot of questions.

Their predictions for the year draw a lot of comments. While most people were thrilled with their forecasts, others saw it as a joke.

One user exclaimed, “SNX 700, really?” That’s a sign of doubt. Maybe the user is shocked by the prediction. You can check the forecast and the comments from users.

@BBhodler

This is one of the popular Twitter users that likes predicting the future price of digital currencies.

In her new year prediction, she sees the SNX price reaching $60 by the end of the year. She also went ahead to predict the price of other coins.

@Chadd_Link

Although Chadd_Link’s forecast was made in December last year, however, it seems to be in the right direction.

The user predicts a bullish movement of the coin. From his prediction, he thinks that the price of SNX will reach $100 before the next few months.

@Hans_2024

Another Twitter user @Hans_2024 also posted his Synthetix token price prediction for 2021 and he expects it to rise to $75.

SNX Price Forecasts by Popular YouTubers

Cryptosnake’s Forecast – SNX to $150 in 2021!

From the analysis at the Cryotosnake YouTube channel, Synthetix has the capacity to grow in 2021 and increase to $150 per token.

According to Cryptosnake, the SNX token is a great blue-chip token with enormous potential with its ability to issue synthetic assets.

Based on the fact that it is relatively new, the YouTuber feels that it has the capacity to grow and reach his $150 prediction for 2021.

He believes there is a huge opportunity for the project to grow in the market even though they are still at the beginning of their journey.

SkinnyMoonhunter Thinks Synthetix (SNX) Will Hit $25 Soon

The YouTube channel has dropped its SNX prediction for 2021. The channel, which based their prediction on the coin’s historical price chart, thinks that the Synthetix coin is capable of reaching $25 in the future.

His prediction is based on the market cap and historical price chart of the token.

Brave New Coin’s Price Prediction

Furthermore, YouTuber Bravenewcoin also holds the opinion that SNX is looking good at the moment.

The unchained stats are also pulsating despite its newer borrowing and lending protocol, which users are embracing and using in good numbers.

This is quickly pushing Synthetix further into a huge part of the DeFi network.

He believes that as long as borrowing and lending on the blockchain stay in demand and the speculative front continues, then Synthetix should continue to pump.

From the analysis of SNX by the YouTube channel, SNX can increase in the future. From the study, the coin could surpass $30 in the near future.

Will Synthetix reach $100?

Going by the current projections we have seen so far and the ones we have discussed in the article, SNX is not expected to reach $100 by the end of 2021. According to longforecast, the highest they are predicting the coin to reach in 2021 is $34.25. However, in the space of just 5 years, SNX could surpass the $100 mark to reach $260.

What Has Changed for the Synthetix Price Prediction?

According to the founder of the protocol, he explained in an interview with Unchained why he feels SNX gained such massive popularity to become the second biggest DeFi protocol in terms of total value locked.

To him, the success was gradual and things took a big turn for the better on the launching of new synths like bitcoin, silver, gold, LUX. From there, the interest in the project expanded very fast, and the project awareness level blossom.

Additionally, the changing of the protocol monetary policy helped a lot. It changed the adoption level and consequently, the price projection took on a positive outlook in the market.

So, what’s changed in terms of the monetary policy that saw the price of Synthetix rise steadily even with the market ups and downs. Well, just like every other Ethereum-based token that previously launched pre-2020, the Synthetix protocol also had a fixed total supply of tokens at 100 million tokens.

This did not spur users’ participation as the team had hoped for low staking rates to be the norm for the protocol.  This prompted the team to switch things up and change the monetary policy to rewarding stakers by paying them inflation for their active participation.

The result was an almost instant boost in participation and activities on the Synthetix protocol as users became more interested and excited about the project. Thus, creating more understanding of the project and adoption and as a result positive movement for the SNX price in the market. The growth of the protocol and the price just kind of took off at that crucial moment. We can say it has not looked back since then.

The Trajectory Looks Good for Synthetix

On January 15, the Synthetix protocol in partnership with Optimistic Ethereum released a scaling solution for the Synthetix network.

This development is further cementing Synthetix’s claim as the future of finance. It could further move the Synthetix price in 2021 upward.

The collaboration allows Synthetix users to move SNX to the Optimistic Ethereum, which is a 2nd layer scaling solution that improves the speed of transactions and lowers the cost too.

The Optimistic Ethereum scaling solution utilizes Rollups technology to achieve this. However, at the moment this is a one-way bridge for Synthetix and you can only stake on it.

That is supposed to change in the coming months as support is extended to cover USD synths (sUSD) trading into other synths, upgrading the one-way bridge into a two-way bridge, support for Chainlink oracles as well as other native features of the Ethereum version of Synthetix.

With these changes that are coming, the price of Synthetix is expected to see good fortune in the market as more users interact with the protocol to utilize these new features.

History of Synthetix

Kain Warwick founded the Synthetix protocol. At the initial stage, the Synthetix protocol was called Havven. In 2018, the protocol raised $30 million by selling 60 million HAV tokens.

The goal of Havven’s token was to create cryptocurrencies that imitate the performance of fiat currencies like the EURO, USD on multiple blockchains, including ETH and EOS.

However, in the last quarter of 2018, Havven was rebranded to Synthetix. And at that time, it was expanding its goal of including the creation of Synthetix assets for commodities and cryptocurrencies.

In 2019, over $3.9 was raised by Synthetix by selling the SNX tokens to framework and ventures.

Final Thought on SNX Price in 2021

From the predictions so far, you can see that majority thinks that the future is bright for the Synthetix protocol. Some even went as high as predicting $955 for the digital coin.

Also, you will notice that the few that predicted a bearish price movement were neutral on the investment advice for the coin- meaning that they might change their prediction to a bullish signal in the future.

To show the level of optimism that people have for the project, popular blog DeFi Times even went as high as forecasting that the SNX token price will reach $700 before the end of the year.

So far, the highest prediction we saw was from Matt_Bitcoin, a Twitter user known for predicting the price of cryptocurrencies.

In contrast, the lowest prediction came from Changelly ($2.52) – although it was an old prediction.

From your own view, what do you think would be the price of Synthetix token by the year-end? Do you agree that it will rise or fall? We would like to hear your opinion below?

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Crypto enthusiast since 2016, learning every day about blockchain and the different projects that appear in the crypto-ecosystem. I write about cryptocurrencies because I want to help people get to know this exciting world.

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