Tuesday, April 23, 2024

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by Hideo Nakamura
Rank #728
sUSD (SUSD)

sUSD SUSD

$ 0.997241
0.00001508 BTC
Marketcap
$ 48,035,138
Volume (24h)
$ 6,164,839
Circulating Supply
48,167,636 SUSD
Total Supply
48,167,636 SUSD
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All time high price: $ 2.45 59.30%
All time high date: February 18, 2020
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* Currency in USD
Historical Price for sUSD
DateOpenCloseHighLowVolume
sUSD Markets
#SourcePairVolumePriceChangeUpdated
SUSD
USD

sUSD (SUSD) price has increased 0.69% today!

sUSD (SUSD) is a cryptocurrency that operates on a blockchain. Currently, it is trading at $ 0.997241 and a market capitalization of $ 48,035,138. The price of sUSD has increased 0.69% in the last 24 hours. Currently, sUSD ranks #728 among all cryptocurrencies by market capitalization and has a daily trading volume of $ 6,164,839.

What is sUSD?

sUSD, or synthetic USD, is a synthetic asset launched by Synthetix Exchange. sUSD mirrors and tracks the price of USD 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. Like 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 sUSD?

To obtain sUSD, users must first obtain Synthetix Network Tokens, 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.

The amount of sUSD minted will depend on two factors: 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 fluctuates, the user’s C-Ratio will fluctuate as well. 

Alternatively, users can also buy sUSD directly on Synthetix Exchange with ETH. 

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 five 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.

 

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