sETH

SETH Price

What is sETH?

sETH, or synthetic Ether is a synthetic asset launched by Synthetix Exchange. With its underlying asset being Ether (ETH), sETH mirrors and 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 can I obtain sETH?

To obtain sETH, 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; the amount of SNX staked and 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 sETH or 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 sETH 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.

Where can you buy sETH?

SETH tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade sETH is Velodrome Finance, where the most active trading pair SETH/WETH has a trading volume of $3,393.61 in the last 24 hours. Other popular options include Velodrome Finance V2 (Optimism) and Uniswap V3 (Optimism).

What is the daily trading volume of sETH (SETH)?

The trading volume of sETH (SETH) is $3,578.98 in the last 24 hours, representing a -37.70% decrease from one day ago and signalling a recent fall in market activity.

What is the all-time high for sETH (SETH)?

The highest price paid for sETH (SETH) is BTC0.08867, which was recorded on Nov 10, 2021 (almost 3 years). Comparatively, the current price is -50.60% lower than the all-time high price.

What is the all-time low for sETH (SETH)?

The lowest price paid for sETH (SETH) is BTC0.0₅1993, which was recorded on Apr 01, 2020 (over 4 years). Comparatively, the current price is 19,204,837.50% higher than the all-time low price.

What is the market cap of sETH (SETH)?

Market capitalization of sETH (SETH) is BTC33.1820 and is ranked #2450 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SETH tokens (12 Thousand tokens are tradable on the market today).

What is the fully diluted valuation of sETH (SETH)?

The fully diluted valuation (FDV) of sETH (SETH) is BTC33.1820. This is a statistical representation of the maximum market cap, assuming the maximum number of 12 Thousand SETH tokens are in circulation today. Depending on how the emission schedule of SETH tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of sETH compare against its peers?

With a price decline of -10.60% in the last 7 days, sETH (SETH) is underperforming the global cryptocurrency market which is down -6.70%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add sETH (SETH) to MetaMask?

Adding sETH (SETH) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import SETH as a token. You can copy SETH’s contract address (0x5e74c9036fb86bd7ecdcb084a0673efc32ea31cb) and import it manually, or if you've installed MetaMask's chrome extension, add SETH to MetaMask with one click on CoinGecko.

Add SETH to MetaMask.