FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%

Synthetix Network Price, SNX/USD Exchange Rates


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.

How does Synthetix work?


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).

SNX/USD Price and Exchange Rates Charts

SNX/USD Price, Exchange Rates chart – 7 days

SNX/USD Price, Exchange Rates chart – 30 days

SNX/USD Price, Exchange Rates chart – 60 days

* Forex Rating accepts no liability for any errors in the Synthetix Network Price or SNX Information. For the most recent information please visit the Synthetix Network official site.

Top Cryptocurrencies

# Cryptocurrency 7 days
1 BTC Information Bitcoin 2.12%
2 ETH Information Ethereum 11.7%
3 BNB Information Binance Coin 0.88%
4 ADA Information Cardano 1.13%
5 USDT Information Tether 0.08%
6 SOL Information Solana 34.4%
7 XRP Information XRP 1.28%
8 DOT Information Polkadot 8.85%
9 DOGE Information Dogecoin 4.68%
10 USDC Information USD Coin 0.09%
11 LUNA Information Terra 19.35%
12 SHIB Information SHIBA INU 43.54%
13 UNI Information Uniswap 4.21%
14 LINK Information Chainlink 26.24%
15 AVAX Information Avalanche 20.74%
16 WBTC Information Wrapped Bitcoin 2.26%
17 LTC Information Litecoin 5.78%
18 BUSD Information Binance USD 0.1%
19 ALGO Information Algorand 13.34%
20 BCH Information Bitcoin Cash 2.21%
Cryptocurrency Rating

Top Bitcoin Brokers

All Bitcoin Forex Brokers

BTC/USD Forecasts

Bitcoin ETF Approval Unleashes The Crypto Bull
Bitcoin ETF Approval Unleashes The Crypto Bull

In the growth and development of Bitcoin towards a mainstream financial asset, the desire to have a Bitcoin ETF has been high on the wish list. Many companies...

21 Oct 2021

Stock Futures Flat, Bitcoin ETF Begins Trading Today
Stock Futures Flat, Bitcoin ETF Begins Trading Today

Today is the day that crypto traders have so eagerly been waiting for, as the ProShares Bitcoin Strategy ETF is now ready to invest in bitcoin futures and, according...

19 Oct 2021

Bitcoin to new all time highs?
Bitcoin to new all time highs?

Bitcoin has attracted a fair bit of attention in the last few days, hitting $62,857 and just shy of a new all-time high. Sentiment remains buoyant as we head past weekend...

18 Oct 2021

The price of Bitcoin jumped towards its all-time high on Friday morning
The price of Bitcoin jumped towards its all-time high on Friday morning

Hopes that a Bitcoin futures ETF would be approved by the SEC have supported the price in recent weeks. Some exchanges show the world’s largest cryptocurrency reached $60,000...

18 Oct 2021

Bitcoin approaches all-time high but hits resistance at $60000
Bitcoin approaches all-time high but hits resistance at $60000

The price of Bitcoin jumped towards its all-time high on Friday morning after a Bloomberg report said the US Securities and Exchange Commission (SEC) is set to allow...

15 Oct 2021

Bitcoin heads towards $60,000 with ETF approval on the horizon
Bitcoin heads towards $60,000 with ETF approval on the horizon

The price of Bitcoin resumed its path higher on Thursday with markets still hopeful that a Bitcoin ETF, most likely based on Bitcoin Futures, will be approved by...

14 Oct 2021

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
AvaTrade information and reviews
AvaTrade
76%
LegacyFX information and reviews
LegacyFX
75%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.