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 $769 million, Synthetix is the No. 73 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 316 million Synthetix tokens issued. So far 315 million tokens (99.8% of the total supply) have been issued.
We found savings accounts offering up to 17.2% APY on Synthetix deposits 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.
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?