Synthetix (CURRENCY:SNX) traded 11.9% higher against the U.S. dollar during the 24-hour period ending at 0:00 AM Eastern on July 21st. One Synthetix coin can currently be purchased for approximately $8.45 or 0.00026354 BTC on popular cryptocurrency exchanges. Synthetix has a market capitalization of $970.71 million and $145.89 million worth of Synthetix was traded on exchanges in the last day. During the last week, Synthetix has traded down 16.6% against the U.S. dollar.
Here is how related cryptocurrencies have performed during the last day:
- Binance USD (BUSD) traded up 0% against the dollar and now trades at $1.00 or 0.00003119 BTC.
- DREP (DREP) traded 21% lower against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded down 19.5% against the dollar and now trades at $1.96 or 0.00003399 BTC.
- Chainlink (LINK) traded 7.1% higher against the dollar and now trades at $15.32 or 0.00047757 BTC.
- Polygon (MATIC) traded up 23% against the dollar and now trades at $0.89 or 0.00002788 BTC.
- Dai (DAI) traded 0.2% lower against the dollar and now trades at $1.00 or 0.00003121 BTC.
- THETA (THETA) traded 11.5% higher against the dollar and now trades at $4.36 or 0.00013597 BTC.
- Aave (AAVE) traded up 14.4% against the dollar and now trades at $264.65 or 0.00825157 BTC.
- botXcoin (BOTX) traded 1.6% lower against the dollar and now trades at $2.05 or 0.00006395 BTC.
- Crypto.com Coin (CRO) traded 4.6% higher against the dollar and now trades at $0.11 or 0.00000341 BTC.
According to CryptoCompare, “Synthetix (SNX) is a rebranding of Havven.io (HAV). Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism is designed to solve the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX. “
Synthetix Coin Trading
It is usually not presently possible to purchase alternative cryptocurrencies such as Synthetix directly using US dollars. Investors seeking to trade Synthetix should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Synthetix using one of the exchanges listed above.
Receive News & Updates for Synthetix Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Synthetix and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.