Synthetix is a protocol built on the Ethereum blockchain. Synthetix is a platform where users can purchase digitalized US stocks or other commodities in exchange for cryptocurrencies. Digitalized assets are called synthetic assets and are traded on a decentralized exchange called Kwenta. SNX is an ERC20 token.
With a total market cap of over $672 million, Synthetix is the No. 62 cryptocurrency by market size. The currency symbol for Synthetix is SNX, it was launched in March 2018 and it originated in Australia. There will only ever be 324 million Synthetix tokens issued. So far 324 million tokens (99.8% of the total supply) have been issued.
We found crypto protocols offering up to 253% APY on Synthetix deposits (6% APY CeFi, 253% APY DeFi) and loans as low as 20% APR against Synthetix used as collateral. Check out our Synthetix staking yields table and Synthetix loan rates table for further details.
The technical price analysis for Synthetix below is undertaken automatically by Tradingview by looking at over 20 different technical chart indicators. You can see how many of these indicators were BUY, NEUTRAL or SELL at the bottom of the chart. The indicators will change depending on what time frame you are looking at. The analysis does not consider market sentiment or broader macro issues that may affect the price of Synthetix.
ASynthetix is part of the Synthetics, Optimism, Bnb Chain and Fantom ecosystems.
QIs it possible to stake Synthetix to generate passive income?
AYes, staking is available for Synthetix on a number of platforms. For a full list of Synthetix staking yields see our list of Synthetix staking yields.
QHow much can I earn staking Synthetix?
AYou can earn up to 253% APY by staking your Synthetix tokens. Check out our Synthetix staking yields table for further details.
QWhere is the best place to stake Synthetix?
ARight now the best staking rates are on KyberSwap with an income rate of up to 253% APY.
QWhat is the difference between CeFi and DeFi staking rates for Synthetix?
AThe best CeFi staking rate that we could find for Synthetix is on YouHodler with an income rate of up to 6% APY and the best DeFi staking rate is on KyberSwap with an income rate of up to 253% APY.
QIs it a good time to buy Synthetix?
AYou can check the technical indicators for Synthetix on the Synthetix Price Trend tab. These indicators are based on the analysis of multiple trading signals for Synthetix.
QWhere is the best place to buy Synthetix?
AYou can find the cheapest exchange on which to buy Synthetix on the Synthetix Buy tab.
QCan you get a Synthetix loan without collateral?
AAlmost all Synthetix loans require you to provide collateral of higher value than the value of the loan that you are tkaing it. The only exception to this is Synthetix flash loans which allow you to borrow uncollateralised Synthetix for a few seconds as part of a wider transaction. You will need advanced coding skills to take advantage of flahs loans. You can compare all Synthetix loans on the Synthetix Loans tab.
QWhich venture capital firms have invested in Synthetix?
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