Convert Internet Computer to Synthetix Network Price Calculator & icp vs. snx Comparison

With the ever-fluctuating cryptocurrency market, keeping track of real-time prices between Internet Computer and Synthetix Network can be challenging. Our dedicated Internet Computer to Synthetix Network price converter & calculator makes this task seamless and straightforward. Whether you're an investor, trader, or crypto enthusiast, leverage our tool to get the latest conversion rates of icp vs. snx. Stay ahead of the market and make informed decisions by accessing the most up-to-date data at your fingertips

1 Internet Computer (icp) == 1.512077294686 Synthetix Network (snx).
Rate : 1.512077294686

Internet Computer (icp) Price: 3.13$
Synthetix Network (snx) Price: 2.07$

Synthetix Network (SNX)

Overview

Synthetix Network (SNX) is a decentralized synthetic asset platform built on the Ethereum blockchain. It enables users to create and trade synthetic assets that track the value of real-world assets such as stocks, cryptocurrencies, and commodities. SNX aims to provide a decentralized alternative to traditional financial instruments, allowing users to access a wide range of assets without needing to hold the underlying asset.

Features and Functions

The Synthetix Network offers several key features and functions:

• Synthetic Assets: Users can create and trade synthetic assets, known as Synths, which represent real-world assets. These Synths are backed by SNX collateral deposited by users.
• Decentralized Exchange (DEX): Synthetix has its own decentralized exchange, where users can trade Synths directly against each other without the need for an intermediary.
• Governance: SNX token holders have the ability to participate in the governance of the network. They can propose and vote on changes to the protocol, such as adding new assets or modifying fees.
• Yield Farming: Users can stake their SNX tokens to earn rewards, such as additional SNX or other tokens, as an incentive for participating in the network.
• Derivatives: Synthetix allows users to create and trade derivatives, such as options and futures, based on the synthetic assets.

Integration with Ethereum Ecosystem

Synthetix is built on the Ethereum blockchain, leveraging its security and existing infrastructure. This integration allows for seamless integration with other Ethereum-based DeFi protocols and projects, expanding the possibilities for users to interact with synthetic assets.

Ecosystem Expansion

Synthetix Network has expanded its ecosystem beyond Ethereum to other Layer 2 solutions such as Polygon, Avalanche, Harmony, Fantom, and Optimism. This diversification aims to provide users with lower transaction fees, faster transaction times, and increased scalability.

Market Performance

As of the time of writing, Synthetix Network (SNX) holds a market cap rank of 54. Over the past 30 days, SNX has experienced a price change percentage of -19.31759% in comparison to its current value.