Synthetix ($SNX) Crypto Forecast: Down 5.2% Today

What is Synthetix?

SNX is a cryptocurrency token associated with the Synthetix Network, a decentralized finance platform that allows users to mint synthetic assets. The overall cryptocurrency market has been volatile today, with mixed movements across various tokens.

Why is Synthetix going down?

SNX crypto is down 5.2% on Mar 28, 2025 5:07

• SNX experienced a strong bearish movement likely due to the overall market volatility and profit-taking by traders.
• The news of TD Synnex falling short of expectations in Q1 FY’25 may have negatively impacted investor sentiment, leading to a sell-off in SNX.
• The expert warning about expected volatility in US stocks could have spooked investors, causing them to move away from riskier assets like cryptocurrencies, including SNX.
• The combination of negative news in traditional markets and profit concerns in the crypto space likely contributed to SNX's bearish movement today.

SNX Price Chart

SNX Technical Analysis

SNX News

TD Synnex Reports Q1 FY’25 Falling Short of Expectations

TD Synnex Reports Q1 FY’25 Falling Short of Expectations

https://tokenist.com/td-synnex-reports-q1-fy25-falling-short-of-expectations/?utm_source=rss&utm_medium=rss&utm_campaign=td-synnex-reports-q1-fy25-falling-short-of-expectations

US Stocks Likely To Open Mixed: 'Expect Volatility. Buckle Up,' Says Expert

US Stocks Likely To Open Mixed: 'Expect Volatility. Buckle Up,' Says Expert

https://www.benzinga.com/25/03/44509476/us-stocks-fluctuate-ahead-of-market-open-expect-volatility-buckle-up-says-expert?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

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Synthetix Price History

18.08.2024 - SNX Crypto was up 7.8%

• SNX experienced a strong bullish movement likely due to positive market sentiment towards decentralized finance projects.
• The rejection of Synthetix's request to spend 900,000 ARB may have caused some uncertainty in the market, but it seems that investors are still optimistic about the potential of the project, leading to the bullish movement in SNX.
• The market movement could also be attributed to increased demand for synthetic assets and the overall growth of the DeFi sector, driving interest in tokens like SNX.

01.09.2024 - SNX Crypto was down 5.3%

• The approval of the activist investor's proposal to overhaul Synthetix may have caused uncertainty and concern among investors, leading to a sell-off of SNX tokens.
• The high approval rate from SNX holders indicates a potential shift in the project's direction, which could have triggered profit-taking or speculative trading in the token.
• The market movement suggests that investors are closely monitoring the developments within the Synthetix ecosystem, reacting swiftly to news and potential changes in the protocol.

20.09.2024 - SNX Crypto was up 6.1%

• SNX experienced a strong bullish movement today, likely fueled by its leading position in recent development activity within the DeFi sector.
• The positive sentiment surrounding SNX's protocol advancements may have attracted investors looking to capitalize on the potential growth and innovation in the DeFi space.
• The recognition of SNX as a leader in development activity could have further boosted confidence in the token, driving up demand and pushing prices higher.
• Overall, SNX's bullish movement today reflects both market optimism towards the token and the broader interest in DeFi projects with strong technological advancements.

22.08.2024 - SNX Crypto was down 5.3%

• SNX faced a bearish trend today, possibly influenced by the denial of Synthetix's proposal to utilize 900,000 ARB. This development might have raised uncertainties among investors regarding the project's progress and future outlook.
• The denial of the expenditure request could have sparked doubt about Synthetix's activities and its potential effects on the price of Arbitrum, contributing to the pessimistic atmosphere surrounding SNX.
• While Chainlink (LINK) displayed substantial progress, the attention on Synthetix's declined proposal and the possible recovery of Arbitrum's price may have overshadowed positive developments in the broader ERC-20 project sphere, further impacting SNX's downtrend.

10.10.2024 - SNX Crypto was up 5.5%

• SNX experienced a strong bullish movement today, potentially driven by positive market sentiment and increased demand for decentralized finance (DeFi) tokens like SNX.
• The bullish movement in SNX could also be influenced by the overall positive momentum in the cryptocurrency market, as investors seek higher returns in alternative assets like tokens.
• The news about Chainlink's bullish target and increased on-chain activity may have contributed to a positive sentiment in the overall cryptocurrency market, benefiting tokens like SNX as well.
• The growing interest in DeFi projects and the potential for Chainlink's price surge could have created a ripple effect, boosting SNX's performance today.

06.08.2024 - SNX Crypto was down 5.0%

• SNX experienced a bearish movement possibly due to market uncertainty surrounding the launch of Synthetix's own application blockchain, SNAXChain. Investors might be cautious about the potential impact on SNX's current ecosystem and user base.
• The announcement of SNAXChain could have led to concerns about a potential shift in focus away from the existing Synthetix platform, causing uncertainty and selling pressure on SNX.
• Investors may be waiting for more clarity on how SNAXChain will integrate with Synthetix and whether it will enhance or detract from the value proposition of SNX tokens, leading to a bearish sentiment in the market.

29.11.2024 - SNX Crypto was down 5.6%

• SNX witnessed a bearish movement recently, possibly attributable to profit-taking following a price surge.
• The spotlight on the top 10 yield farming coins may have steered focus and investment away from SNX, resulting in decreased demand.
• Market sentiment towards DeFi tokens like SNX may have temporarily shifted, affecting its price negatively.
• Investors could be reallocating their funds into alternative yield farming opportunities, triggering a sell-off in SNX and contributing to its bearish movement.

31.09.2024 - SNX Crypto was down 5.0%

• Traders engaging in profit-taking amidst a bearish movement following a period of bullish momentum may have affected SNX.
• Concerns among investors regarding the proposed acquisition of Kwenta by Synthetix could have contributed to uncertainties about value dilution or integration challenges.
• The impact of the acquisition on Synthetix's ecosystem remains unclear, prompting market participants to sell off SNX tokens.
• Investors are likely awaiting more details regarding the acquisition and its implications before re-entering the market, thus placing downward pressure on SNX.

21.11.2024 - SNX Crypto was up 9.6%

• SNX experienced a strong bullish movement today, potentially driven by positive sentiment in the overall cryptocurrency market.
• The news about Chainlink leading the development activity in the real-world assets sector may have contributed to a positive outlook for decentralized oracle networks, including projects like SNX.
• The increased interest in real-world assets and decentralized oracle networks could have sparked investor confidence in SNX, leading to its bullish movement.
• Overall, the positive developments in the sector and the market sentiment likely played a role in SNX's strong performance today.

12.11.2024 - SNX Crypto was up 11.6%

• SNX showed a strong bullish movement today, likely influenced by positive market sentiment and growing demand for cryptocurrencies.
• Mention of repeated buy signals for top-performing cryptocurrencies could have boosted investor confidence and contributed to SNX's price surge.
• Increased appreciation of SNX's distinctive value proposition in the cryptocurrency realm may also be drawing more investors looking for exposure to synthetic assets.

06.02.2025 - SNX Crypto was down 5.6%

• SNX experienced a bearish movement today, possibly due to profit-taking after a recent price surge.
• The overall cryptocurrency market may have seen some profit redistribution, leading to SNX being one of the top losers.
• The lack of specific news about SNX suggests that its price movement could be more influenced by broader market trends rather than token-specific factors.

28.02.2025 - SNX Crypto was down 5.2%

• SNX experienced a strong bearish movement likely due to the overall market volatility and profit-taking by traders.
• The news of TD Synnex falling short of expectations in Q1 FY’25 may have negatively impacted investor sentiment, leading to a sell-off in SNX.
• The expert warning about expected volatility in US stocks could have spooked investors, causing them to move away from riskier assets like cryptocurrencies, including SNX.
• The combination of negative news in traditional markets and profit concerns in the crypto space likely contributed to SNX's bearish movement today.