About sETH
Synth sETH by Synthetix Tracks the price of Ether through price feeds supplied by an oracle.
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Market Stats
Market Cap
Not enough data
FDV
$80.33M
Circ. Supply
12K SETH
Max Supply
Not enough data
Total Supply
30K SETH
Diluted Valuation
$30.78M
Performance
Popularity
Not enough data
Dominance
0%
Volume (24H)
Not enough data
Volume (7D)
Not enough data
Volume (30D)
Not enough data
All time high
$9.57K
Price Change (1Y)
Not enough data
19.91%
Additional details
Market details
SETH vs markets
↘ 13.29%
SETH vs BTC
↘ 14.61%
SETH vs ETH
↘ 9.72%
Tags
defi
synthetics
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x5e74C9036fb86BD7eCdcb084a0673EFc32eA31cb | |
Optimism | 0xE405de8F52ba7559f9df3C368500B6E6ae6Cee49 |
Price history
Time | Price | Change |
|---|---|---|
Today | $2,670.46 | |
1 Day | $2,658.88 | |
1 Week | $2,914.76 | |
1 Month | $2,634.99 | |
1 Year | $3,334.50 |
FAQ
Synthetix is a decentralized synthetic asset distribution protocol created on Ethereum and the Optimistic Ethereum network (a layer two scaling protocol built on Ethereum). The platform has developed a locked-in contract centralized with the native token SNX for the creation of Synths, or ‘Synthetic assets’. These synthetic assets enable users to perform transactions between Synths directly with the smart contract, avoiding the need for counterparties. The pooled collateral model allows users to crack liquidity and slippage issues experienced by decentralized exchanges (DEXs). Synthetix currently supports traditional synthetic currencies, cryptocurrencies, and commodities.
According to its litepaper, SNX holders are rewarded for staking their tokens based on a pro-rata share of the fees developed via the trading activity on Synthetix from integrators. Synths are created when SNX holders stake their SNX as collateral on the Synthetix Staking app, a decentralized application (dApp) for communicating with the Synthetix contract. Subsequently, all Synths are backed by SNX tokens. However, traders do not need to hold SNX tokens to trade on the Synthetix infrastructure.
Next, Synthetix also utilizes Ether (ETH) as an alternative form of collateral. This represents that traders can get Synths against their ETH and start trading instantly, rather than needing to give up on their ETH. It creates a debt denominated in ETH, so ETH stakers mint sETH.
Trading on Synthetix infrastructure delivers many benefits over centralized exchanges and order book-based DEXs. The scarcity of an order book represents that all trades are conducted against the contract, known as peer-to-contract (P2C) trading. Assets are allocated an exchange rate via price feeds offered by an oracle and can be converted utilizing the Kwenta.io dApp. This provides endless liquidity up to the total amount of collateral in the system, zero slippage, and permissionless on-chain (on blockchain) trading.
We update our sETH to USD currency in real-time. Get the live price of sETH on Coinbase.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Social stats
Popularity in posts
#2342
Contributors
27
Posts
27
% About sETH
0.009%
Articles
0
X (Twitter)
65.85% bullish
Sentiment
4.4 ★
Highlights
27 unique individuals are talking about sETH and it is ranked #2,342 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, sETH has an average sentiment score of 4.4 out of 5. Finally, sETH is becoming less newsworthy, with 0 news articles published about sETH.
On Twitter, people are mostly bullish about sETH. There were 73.64% of tweets with bullish sentiment compared to 11.82% of tweets with a bearish sentiment about sETH. 26.36% of tweets were neutral about sETH. These sentiments are based on 123 tweets.
On Reddit, sETH was mentioned in 6 Reddit posts and there were 6 comments about sETH. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.