Synthetix Reaches Market Cap of $736.80 Million (SNX)

Synthetix (SNX) traded down 1.2% against the US dollar during the twenty-four hour period ending at 8:00 AM E.T. on January 5th. One Synthetix coin can now be bought for about $2.17 or 0.00002217 BTC on cryptocurrency exchanges. During the last week, Synthetix has traded up 4.7% against the US dollar. Synthetix has a total market capitalization of $736.80 million and $36.11 million worth of Synthetix was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed during the last day:

• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• SolvBTC (SOLVBTC) traded down 0.1% against the dollar and now trades at $97,514.28 or 0.99626800 BTC.
• SolvBTC.BBN (SOLVBTC.BB) traded down 0.2% against the dollar and now trades at $96,767.12 or 0.98863459 BTC.
• Lumi Credits (LUMI) traded 8.9% higher against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Synthetix Coin Profile

Synthetix’s launch date was March 11th, 2018. Synthetix’s total supply is 339,889,850 coins and its circulating supply is 339,466,217 coins. The official website for Synthetix is www.synthetix.io. Synthetix’s official message board is research.synthetix.io. Synthetix’s official Twitter account is @synthetix_io and its Facebook page is accessible here. The Reddit community for Synthetix is https://reddit.com/r/synthetix_io and the currency’s Github account can be viewed here.

According to CryptoCompare, “Synthetix (SNX) is a decentralized synthetic asset issuance protocol built on Ethereum. It allows the creation and trading of synthetic assets collateralized by SNX, used for hedging, gaining exposure to diverse assets, and trading on the price movements of real-world assets. SNX stakers are incentivized to contribute to the network and capture fees generated from Synth exchanges, which determine the value of the SNX token.”

Buying and Selling Synthetix

It is usually not presently possible to buy alternative cryptocurrencies such as Synthetix directly using U.S. dollars. Investors seeking to trade Synthetix should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Synthetix using one of the exchanges listed above.

SNX/USD price chart by TradingView