SynthetixSNX

The token of Synthetix, a perpetual-futures exchange on Ethereum whose stakers back the system.

Rank #261Since March 2018

Price on 31 Oct 2026

C$0.2589 -13.1% since 31 Jul 2026 · 99.3% below its all-time high

The short version

Synthetix runs a perpetual-futures exchange on Ethereum mainnet, governed by the Synthetix DAO and elected councils; it began as Havven, with a token sale in Mar 2018. Under SIP-423 it retired its sUSD stablecoin and in Jul 2026 minted 236.5M new SNX to compensate sUSD holders, locked and then vesting. On 31 Oct 2026 one SNX cost C$0.2589. From 31 Jul 2026 to 31 Oct 2026 its price changed -13.1% in Canadian dollars, and it was 99.3% below its all-time high of C$36.23 set on 13 Feb 2021.^[1]

Checked 31 Oct 2026 · 17 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$1.48 (3 Nov 2025) · low C$0.2542 (30 Oct 2026) · -81.4%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$0.2594	US$0.1858
30 Sep 2026	C$0.3615	US$0.2540
31 Aug 2026	C$0.2819	US$0.2033
31 Jul 2026	C$0.2912	US$0.2076
30 Jun 2026	C$0.3029	US$0.2132
31 May 2026	C$0.4106	US$0.2976
30 Apr 2026	C$0.4203	US$0.3095
31 Mar 2026	C$0.3839	US$0.2761
28 Feb 2026	C$0.4800	US$0.3510
31 Jan 2026	C$0.5389	US$0.3995
31 Dec 2025	C$0.5736	US$0.4188
30 Nov 2025	C$0.7726	US$0.5508

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$0.2589^[1]
3-month change: -13.1% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 99.3% below its high of C$36.23 (13 Feb 2021)^[1]
Market rank: #261, market value about C$150.2M^[1]
Kind: Token · Ethereum (ERC-20); also bridged to Optimism, Base and other chains
Started: March 2018

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?YesA 4-of-7 multisig can mint without an on-chain vote; 236.5M minted under SIP-423 in Jul 2026^{[2, 3, 4, 5]}

Can anyone freeze or take coins from holders?YesThe protocolDAO moved 8.4M SNX from a hacker's wallet using privileged permissions^{[6, 2, 3]}

Can the token's contract code be changed?NoFixed contract code on Ethereum, not a proxy^[7]

Is the supply capped?NoNo hard cap; supply rose from 345M to 581M SNX on 6 Jul 2026^{[5, 8]}

Any scheduled unlocks in the next 12 months?YesSIP-423 compensation SNX (up to 236.5M) is locked until Jul 2027, then vests over a year^{[4, 9]}

Does a team or foundation hold over 10% of supply?Not disclosedSynthetix says no VC holdings or team unlocks remain; treasury balance is not published^[10]

Do network fees reach coin holders?YesTrading revenue funds buybacks; DefiLlama counts US$7.9K to holders in the past year^{[10, 11]}

Main network hacked or halted in the past 2 years?NoNo exploit of Synthetix contracts since 2019; the Oct 2026 theft was at an unrelated company^{[12, 6]}

Is a regulator or court case targeting the coin itself?NoNo live regulator or court case naming Synthetix found^[13]

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Run by: Synthetix DAO and elected councils; council elections held Jan 2026^{[14, 10]}
Admin key: The protocolDAO, a 4-of-7 multisig, can mint SNX and move balances with no on-chain vote; used in 2026^{[2, 3, 4, 6]}
Largest holder: One contract holds 40.7% of total supply, about the size of the Jul 2026 sUSD-swap mint^[7]

Supply

In circulation: 580.98M SNX^[1]
Maximum supply: None set^[1]
sUSD swap mint: Up to 236,464,356 SNX at 4 SNX per sUSD; supply rose from 345M to 581M on 6 Jul 2026^{[4, 5]}
Swap vesting: Compensation SNX is locked one year, then vests linearly for one year, from the sUSD freeze^[4]
Insiders at launch: 23.8% (team 10.2%, private sale 10.6%, foundation 2.5%, advisers 0.4%); no team or VC unlocks remain^{[5, 10]}

Use and fees

Main use: Perpetual futures on Ethereum mainnet, relaunched 27 Jul 2026; SNX stakers back the system^{[10, 13]}
Fees tracked: DefiLlama counts US$31K of fees and US$7.9K to holders in the past year^[11]
Buybacks: 13 Mar 2026 roadmap: trading revenue funds buybacks, split 50/50 between SNX and sUSD at first^[10]

Trading

Daily trading: About C$14.3M a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 6.24% of its market value changes hands each day^[1]
20-week average: 16.9% below its 20-week average price^[1]
1-year change: -81.5% in C$^[1]^[15]

History

Not a forecast

Coins ranked 201-500 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 8,067 cases, 1,187 coins

33% were higher a year later^[16]

Typical result: Median -38% after a year; 33% higher after two years
Lost half or more: 44% within a year
Against Bitcoin: 11% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

3 red flags found

Red flag: The protocolDAO, a 4-of-7 multisig, owns the SNX proxy and balance store, so it can mint or move SNX without an on-chain vote or delay.^{[2, 3]}
Red flag: The protocolDAO used privileged token permissions to move 8.4M SNX out of a hacker's wallet on 30 Oct 2026.^[6]
Red flag: SIP-423 compensation SNX (up to 236.5M) is locked until about Jul 2027, then vests over a year; about 76M, 13% of circulating, unlocks by 31 Oct 2027.^{[4, 9, 17]}

The protocolDAO holds 8,405,741 SNX it recovered from the hacker of a 30 Oct 2026 theft, until the victim requests it.^[6]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.