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iETH Price (IETH)
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iETH Price Chart (IETH/USD)

Last updated 04:14PM UTC. Currency in USD.

What was the highest price for iETH?

iETH hit an all time high of on N/A.

What was the lowest price for iETH?

iETH had an all time low of on N/A.

What was the 24 hour trading volume of iETH?

The 24 hour trading volume of iETH is .


What is iETH?

iETH, or inverse Ether, is a synthetic asset launched by Synthetix Exchange. With its underlying asset being Ether (ETH), iETH inversely tracks the price of Ether (ETH) provided by an oracle - Chainlink.

What are synthetic assets?

Synthetic assets or Synths are derivatives that provide exposure to real world assets on the Ethereum blockchain. Similar to derivatives in traditional financial markets, Synths allow users to hedge and reduce their risk, speculate on price movements and gain access to unavailable assets or markets. This is all accomplished without an individual ever holding the underlying asset.

How does iETH work?

For example, iETH entered the system when sETH was at $1000. As iETH tracks the value of sETH inversely, if the price of sETH drops to $800, the price of iETH would go up to $1200.

Upon reaching its upper limit of $1500 (i.e when Ether = $500) or its lower limit of $500 (i.e when Ether = $1500), iETH’s value will freeze. As a result, users can no longer purchase iETH on Synthetix Exchange but its frozen value can still be traded for other Synths. It will be replaced for another iETH with different limits after a period of time upon reaching its upper or lower limits. 

How can I obtain iETH?

iETH can be purchased from Synthetix Exchange.

To obtain iETH, users have to first obtain Synthetic Network Tokens (SNX), which is Synthetix’s native token. Users can buy SNX from exchanges such as Binance and Uniswap

With SNX, users can then stake SNX as collateral on Mintr to mint sUSD, a synthetic US dollar stablecoin. 

The amount of sUSD minted will depend on two factors: i) the amount of SNX staked, and ii) the collateralization ratio (C-Ratio) of the platform. Currently, the C-Ratio is 500%. This means that if the value of SNX or Synths fluctuate, the user’s C-Ratio will fluctuate as well. 

The minted sUSD can then be exchanged for iETH and other Synths on Synthetic Exchange.

Alternatively, users can also buy sUSD directly on Synthetix Exchange with ETH. The purchased sUSD minted can then be exchanged for iETH and other Synths on Synthetic Exchange.

What other synthetic assets are there?

The Synths tab within Synthetix Exchange displays all its supported synthetic assets available to trade.  To learn more about the inner workings of the different Synth types in detail, simply head to Synthetic’s litepaper.

In general, there are 5 types of synthetic assets:

  1. Foreign Exchange (Forex): Synths that track the price of forex currencies

    • Examples: sUSD, sEUR, sAUD etc.


  2. Commodity: Synths that track the price of commodities

    • Examples: sOIL, sXAU, sXAG


  3. Crypto: Synths that track the price of cryptocurrencies

    • Examples: sBTC, sETH, sXRP etc.


  4. Index: Synths that track an index - a basket of stocks or cryptocurrencies

    • Examples: sDEFI, sCEX, sNIKKEI etc.


  5. Inverse (iSynths): Synths that inversely track the price of assets, such as cryptocurrencies or commodities

    • Examples: iBTC, iETH, iOIL etc.


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