|Synthetix Network||Synthetix Network website|
|Brief||Synths are tokens that provide exposure to assets such as gold, Bitcoin, U.S. Dollars, TESLA (coming soon), and AAPL (coming soon) within the Ethereum blockchain.|
|Last updated:||Sunday, March 7, 2021 2:00:02AM UTC|
|Crypto Volatility Index (CVIX):||62|
|Current price, USD:||21.38|
|Market capitalization, USD:||2 455 072 453|
|Available supply:||114 841 533 SNX|
|Volume 24 hours, USD:||92 706 100|
General SNX facts, technical details and general information about Synthetix Network crypto currency
Synthetix is a derivatives liquidity protocol on Ethereum that enables the issuance and trading of synthetic assets. Each synthetic asset (or Synth) is an ERC20 token which tracks the price of an external asset; for example, each sUSD token tracks the price of the US dollar (and unlike the other synthetic assets, is fixed at 1). A wide variety of Synths exists within Synthetix, including fiat currencies, cryptocurrencies, commodities, and inverse indexes.
In principle, the system can support any asset with a clear price and provides on-chain exposure to an unlimited range of real-world assets. The protocol will enable a variety of trading features including binary options, futures, and more.
Synthetix is otherwise composed of a smart contract infrastructure and a set of incentives that maintains Synth prices. It is underpinned by the value of the Synthetix Network Token (SNX). SNX acts as collateral; staking a proportional value of SNX is required to mint Synths. Stakers are rewarded for supporting the system with a pro-rata share of the fees generated by activity in the system. The value of SNX is thus directly connected with the usage of the network it collateralizes.
This mechanism allows Synthetix to support instantaneous, near-frictionless conversion between different flavors of Synths without the liquidity and slippage issues experienced by other decentralized exchanges. The resulting network of tokens supports an extensive set of use cases including trading, loans, payments, remittance, eCommerce, and more.
Synthetix was launched in late 2017, originally under the name of Havven (HAV).
We list daily Synthetix Network historical data for the past 10 days
|Date||Open, $||Min, $||Max, $||Market cap, $|
|Feb 26||18.41||17.01||19.53||2 031 193 943|
|Feb 27||17.95||17.95||20.00||2 223 117 890|
|Feb 28||18.92||16.48||18.92||2 162 797 180|
|Mar 01||18.72||18.72||20.61||2 325 655 898|
|Mar 02||20.70||20.70||22.89||2 534 613 383|
|Mar 03||22.45||22.45||23.82||2 608 375 755|
|Mar 04||22.76||21.41||23.88||2 472 173 282|
|Mar 05||21.51||20.12||21.51||2 427 878 170|
|Mar 06||20.81||20.24||21.36||2 452 703 469|
|Mar 07||21.29||21.29||21.44||2 455 072 453|
|SNX price change 24 hours||2.18%|
|SNX price change 7 days||13.41%|
We publish the most accurate Synthetix Network Forecasts and News including crypto industry experts' opinion on a daily basis