About Synthetix (SNX)
Market Capitalization$671.42 million
Coin or TokenCoin
Official Website (Alt)N/A
Message Board (Alt)N/A
Blockchain Explorer (Alt)N/A
Synthetix (SNX) Frequently Asked Questions
What is Synthetix?
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. (Description provided by CryptoCompare)
How do I buy Synthetix?
It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Synthetix.
Where can I get Synthetix wallet?
Synthetix produces its own wallet software that is available for download on its website, which allows you to store Synthetix on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.
What is the value of Synthetix?
One Synthetix (SNX) is currently worth $5.85 on major cryptocurrency exchanges. You can also exchange one Synthetix for 0.00011577 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Synthetix in U.S. dollars is $671.42 million.
What hashing algorithm does Synthetix use?
Synthetix is a coin that uses the ETH Token algorithm.
What coins are similar to Synthetix?
The following coins use Synthetix's ETH Token algorithm and proof-type: Polygon, Crypto.com Coin, Polygon, Binance USD, Chainlink, Parkgene, Decentraland, DREP, DREP [old], Dai, Axie Infinity, FTX Token, THETA, Fantom and Radix.
What is the Reddit page for Synthetix?
The official Reddit community (subreddit) for Synthetix is r/synthetix_io.
Synthetix (SNX) Price Chart for Tuesday, December, 7, 2021
Synthetix (SNX) Search Trends
There is a correlation between price appreciation and public interest in cryptocurrencies, such as Synthetix. Many cryptocurrency investors use Google Trends, which measures the volume of web searches for a particular topic over time, as a tool to gauge whether public interest is increasing or decreasing for a particular cryptocurrency. The chart below shows how search volume has changed for the phrase "Synthetix Coin" over the last 90 days.
Synthetix (SNX) Website Traffic
Synthetix (SNX) Social Media Trends
Synthetix (SNX) News Headlines