#SNX. Great entry point and upside potential. 11/21/24

Synthetix Network Token (SNX) is an Ethereum-based token powering the decentralized protocol for issuing synthetic assets, Synthetix.

Synthetic assets are created when SNX token holders provide them as collateral using Mintr, a decentralized application for interacting with Synthetix contracts.

Currently, the protocol supports synthetic fiat currencies, cryptocurrencies, and commodities.

The situation is similar to #DYDX. The token is in a sideways trend and near the lower boundary. Buying at current levels up to $1.22 is a reasonable idea for spot trading. The nearest target is $3.144. On spot, you can easily achieve at least a 2x return.