SETH Price Today
sETH price today is $2,018.37 with a 24-hour trading volume of $2,536,486. SETH price is down -1.1% in the last 24 hours. It has a circulating supply of 25 Thousand SETH coins and a total supply of 24.8 Thousand. If you are looking to buy or sell sETH, Kwenta is currently the most active exchange.
What was the highest price for sETH?
sETH hit an all time high of $4,876.35 on Nov 10, 2021 (6 months).
What was the lowest price for sETH?
sETH had an all time low of $0.012544761994 on Apr 01, 2020 (about 2 years).
What was the 24 hour trading volume of sETH?
The 24 hour trading volume of sETH is $2,536,486.
Where can sETH be traded?
You can trade sETH on Kwenta, Balancer (v1), and Uniswap (v2).
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:
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Foreign Exchange (Forex): Synths that track the price of forex currencies- Examples: sUSD, sEUR, sAUD etc.
- Examples: sUSD, sEUR, sAUD etc.
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Commodity: Synths that track the price of commodities
- Examples: sOIL, sXAU, sXAG
- Examples: sOIL, sXAU, sXAG
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Crypto: Synths that track the price of cryptocurrencies
- Examples: sBTC, sETH, sXRP etc.
- Examples: sBTC, sETH, sXRP etc.
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Index: Synths that track an index - a basket of stocks or cryptocurrencies
- Examples: sDEFI, sCEX, sNIKKEI etc.
- Examples: sDEFI, sCEX, sNIKKEI etc.
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Inverse (iSynths): Synths that inversely track the price of assets, such as cryptocurrencies or commodities
- Examples: iBTC, iETH, iOIL etc.