The Synthetix Network Token (SNX) is a prominent decentralized finance (DeFi) asset that enables the creation of synthetic assets on the blockchain. It is actively traded across various decentralized exchanges, including ApeSwap on the Binance Smart Chain (BSC). This guide provides a detailed overview of the SNX/WBNB trading pair, its current market performance, liquidity details, and essential trading insights.
SNX/WBNB Price Overview
As of the latest data, the price of SNX in the SNX/WBNB pool on ApeSwap (BSC) is $0.576. Over the past 24 hours, the token has experienced a price decline of 5.5%. The trading volume for the same period stands at $765.61, with a total of 44 recorded transactions. The fully diluted valuation (FDV) for this pair is approximately $840,900, while the liquidity pool holds $4,575.46.
Historical Price Movements
In the last 24 hours, the price of SNX/WBNB reached a high of $0.6157 at 17:45 UTC. The lowest recorded price during this period was $0.5342, occurring at 19:25 UTC. These fluctuations reflect typical market volatility in the decentralized exchange environment.
Liquidity Pool Details
The SNX/WBNB liquidity pool operates under the contract address 0x8b1f1f28a8ccbaa8a8bc1582921ece97ce99d9e1. The total liquidity locked in this pool is $4,575.46. This pool was established over three years ago and remains active with recent transactions.
The pooled assets consist of 3,968.67 SNX tokens, valued at $2,281.71, and 3.474 WBNB tokens, also valued at $2,281.71. This balance ensures sufficient liquidity for traders executing swaps on the platform.
Exchange Rates and Conversions
At the time of reporting (09:33 UTC), the exchange rate for 1 SNX to WBNB is approximately $0.0008769. Conversely, 1 US Dollar can purchase about 1.7362 SNX tokens based on the current market rate. These rates are dynamic and change in real-time based on market conditions.
Where to Trade SNX/WBNB
The SNX/WBNB trading pair is primarily available on ApeSwap (BSC). Additionally, users can access this pair through other platforms such as Maestro Bot and KyberSwap. These platforms offer user-friendly interfaces and secure trading environments for decentralized transactions.
Largest Token Holder
The largest holder of SNX tokens is the contract address 0x0000000000000000000000000000000000001004, identified as the BNB Chain. This address currently holds 218,400 SNX tokens, with a total value of $125,787.96 at today's market price.
Security and Contract Information
The SNX/WBNB pool has a GT score of 47.09, indicating a moderate risk level. The contract has been verified, and there are no signs of honeypot risks. However, a proxy contract was detected within the system. The trading pair has recorded transactions within the past 24 hours, confirming its activity.
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Frequently Asked Questions
What is Synthetix Network Token (SNX)?
SNX is the native token of the Synthetix protocol, which allows users to mint and trade synthetic assets that track the value of real-world assets. It is a key component in the DeFi ecosystem, enabling exposure to various assets without direct ownership.
How can I buy SNX on ApeSwap?
To purchase SNX on ApeSwap, connect your Web3 wallet to the platform, ensure you have BNB for gas fees, and swap your desired token for SNX through the SNX/WBNB liquidity pool. Always verify contract addresses to avoid scams.
What factors influence SNX price changes?
SNX prices are influenced by overall market sentiment, demand for synthetic assets, protocol updates, liquidity pool dynamics, and broader cryptocurrency market trends. Monitoring these factors can help in making informed trading decisions.
Is trading SNX/WBNB safe on ApeSwap?
While ApeSwap is a reputable decentralized exchange, users should always exercise caution. Verify contract addresses, check liquidity levels, and be aware of potential risks such as impermanent loss and market volatility.
Can I provide liquidity for SNX/WBNB?
Yes, users can become liquidity providers by adding an equal value of SNX and WBNB to the pool. In return, they earn a portion of the trading fees generated by the pool. However, consider the risks of impermanent loss before participating.
Where can I find real-time SNX price data?
Real-time price data for SNX can be accessed through decentralized exchange interfaces, cryptocurrency tracking websites, and DeFi analytics platforms. Always cross-reference data from multiple sources for accuracy.
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