SNT

Overview of SNT

SNT, short for Status Network Token, is a type of cryptocurrency that was introduced in the year 2017. This token was principally founded by Jarrad Hope and Carl Bennetts. In terms of platforms that support the usage and transaction of SNT, it can be traded on various exchanges, such as Binance, Huobi Global, OKEx, and more. When it comes to storage, SNT can be kept in different types of wallets, including Metamask, MyEtherWallet, Ledger, and so forth. SNT takes place in the broader context of the expansion and diversification of cryptocurrencies in recent years.

Pros and Cons

SNT Price Prediction

Over the coming decades, SNT's price is expected to experience fluctuations. By 2030, the trading range is projected to be between $0.09224 and $0.1305. In 2040, our forecast suggests SNT could reach a peak price of $0.2088,with a potential minimum around $0.1678.Looking ahead to 2050, technical analysis indicates that SNT's price could range from $0.2423 to $0.2906,with an estimated average trading price of about $0.2459.

What Makes SNT Unique？

The innovation of SNT, also known as Status Network Token, primarily lies in its integration into the wider Status Network. The Status Network is a decentralized platform that aims to build a wide range of applications and functionalities, including a mobile Ethereum OS, a DApp browser, and a messaging system, among other things. SNT holders have the option of using their tokens to navigate this comprehensive network, access various applications and even influence governance decisions within the platform, making it not just a cryptocurrency, but also a key to an expanded range of functionalities.

However, its important to note that while SNT provides certain unique features, other cryptocurrencies also offer their own sets of innovations and conveniences. For instance, Bitcoin is celebrated for its pioneering role in introducing blockchain technology, Ethereum for its smart contracts and Decentralized Applications (DApps), and Ripple for its fast international transactions and partnerships with traditional financial institutions.

How Does SNT Work？

SNT, the Status Network Token, operates on the Ethereum blockchain as an ERC-20 token. ERC-20 is a standard for tokens on the Ethereum blockchain, ensuring compatibility between different tokens on the platform.

The working principle of SNT is centered around utility within the Status Network. SNT tokens are not only a form of cryptocurrency that can be traded, but are also used as a means of accessing and interacting with different applications on the Status Network. For example, they can be used to purchase sticker packs, participate in governance of the Status client, register a username with the ENS (Ethereum Name Service), among others.

In terms of transaction processing, when SNT is transferred between parties, the transaction is submitted to the Ethereum network and miners on the Ethereum blockchain verify the transaction. Once verified, these transactions are added to the blockchain, confirming the change in ownership of the tokens.

It's important to note that, like other cryptocurrencies, the value of SNT is not backed by a physical asset and can fluctuate widely based on supply and demand dynamics in the crypto market.

Circulation of SNT

SNT, or Status Network Token, is a cryptocurrency that powers the Status messaging app. SNT has experienced significant price fluctuations since its launch. In January 2018, SNT reached an all-time high of $0.41, but its price has since fallen to around $0.02.

There is no mining cap for SNT.

The total supply of SNT is 6,804,870,174 tokens, but there is no limit on the number of tokens that can be mined. The total circulating supply of SNT is 3,859,423,502 tokens. The price of SNT has been fluctuating in line with the overall cryptocurrency market, and has also been impacted by news and developments related to the Status Network project.

Exchanges to Buy SNT

1. Binance: This is one of the largest and most popular cryptocurrency exchanges in the world. SNT trades on Binance in pairs with BTC, ETH, BNB, and USDT.

2. Huobi Global: Huobi offers a wide range of cryptocurrencies for trading, including SNT. Trading pairs for SNT on Huobi Global include SNT/BTC, SNT/ETH, and SNT/USDT.

3. OKEx: On OKEx, SNT can be purchased in pairs with BTC, ETH, and USDT.

4. Bittrex: Bittrex supports SNT and allows trading in pairs like SNT/BTC and SNT/ETH.

5. Poloniex: On Poloniex, SNT can be traded in pairs with BTC, ETH, and USDT.

6. Upbit: This South Korean exchange supports trading of SNT in pairs with BTC, ETH, and USTD.

7. KuCoin: At KuCoin, SNT can be traded with BSV, USDT, and BTC.

8. HitBTC: On HitBTC, SNT can be procured in pairs with BTC, ETH, and USDT.

9. Bitfinex: An international exchange where SNT can be bought using USD, BTC, or ETH.

10. CoinEx: SNT tokens can also be bought on CoinEx in trading pairs with BTC, ETH, and BCH.

How to Store SNT？

1. Online wallets (Web-based wallets): These are wallets that can be accessed through web browsers. MyEtherWallet and MetaMask are two popular examples of online wallets that support SNT.

2. Software wallets (Desktop/Mobile wallets): These are wallets that you download and run on your computer or mobile device. Examples of such wallets include Exodus and Trust Wallet.

3. Hardware wallets: These are physical devices that securely store users' private keys offline, providing an extra level of security compared to online and software wallets. Two widely recognized hardware wallets that support SNT are Ledger and Trezor.

Remember, it is crucial to take into account the security of your tokens when choosing a wallet. Online wallets can be vulnerable to hacking, and any device with a software wallet should be safeguarded against malware and other potential threats. Hardware wallets, though more expensive, are often considered the most secure option for storing cryptocurrency.

Should You Buy SNT？

1. Regular Cryptocurrency Investors: Individuals who are used to investing in cryptocurrencies and understand the volatility and risk associated with such investments may consider buying SNT. They should have a good understanding of how to buy, sell, and store tokens, as well as the functionality and performance of SNT.

2. Users of the Status Network: The Status Network provides various services from a mobile Ethereum OS to a DApp browser. Individuals or entities who anticipate using these services frequently might consider buying SNT as a utility to access and interact within the network.

3. Blockchain Enthusiasts: Those who believe in the principles of decentralization and want to actively promote blockchain technology may be interested in investing in SNT. These individuals may not just view SNT as an investment, but also as a commitment to continue the advancement of blockchain applications.