sETH Price (SETH)

Unlisted

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: Foreign Exchange (Forex): Synths that track the price of forex currencies Examples: sUSD, sEUR, sAUD etc.

Commodity: Synths that track the price of commodities

Examples: sOIL, sXAU, sXAG

Crypto: Synths that track the price of cryptocurrencies

Examples: sBTC, sETH, sXRP etc.

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

Examples: sDEFI, sCEX, sNIKKEI etc.

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

Examples: iBTC, iETH, iOIL etc.

What is today's price of sETH (SETH)?

The live price is $2579.96, reflecting a price movement over the last 24 hours of -5.41%. This number is recalculated every few seconds to reflect real-time trading across global markets.

How many tokens of SETH are in circulation?

The circulating supply of SETH is 11579.90543070804, representing the amount currently held by the public. Circulating supply affects price discovery and market capitalization, especially for emerging assets.

How many holders currently own sETH?

There are an estimated -- unique holders of SETH across the supported network(s). A growing holder count generally indicates rising adoption and long-term interest in the asset.

What is the market cap of sETH today?

The market capitalization stands at $29898133, positioning sETH at rank #929 worldwide. Market cap helps investors understand the relative size and maturity of the asset compared to others.

How actively is SETH being traded today?

Over the past 24 hours, the token recorded $-- in trading volume. Higher volumes often correlate with stronger liquidity and higher trader participation.

What is driving the recent movement of sETH?

The recent price movement of -5.41% over the last 24 hours is influenced by market sentiment, investor behavior, category-wide performance within Crypto-Backed Tokens,Decentralized Finance (DeFi),Synthetic Asset,Derivatives,Ethereum Ecosystem,Optimism Ecosystem,Synthetic, and updates from the -- ecosystem. Hot news or rising trading interest may also contribute.