SynLev (CURRENCY:SYN) traded 20.1% lower against the U.S. dollar during the twenty-four hour period ending at 17:00 PM E.T. on May 4th. SynLev has a market cap of $193,487.64 and $118,095.00 worth of SynLev was traded on exchanges in the last 24 hours. One SynLev coin can now be bought for $0.0158 or 0.00000029 BTC on major exchanges. During the last seven days, SynLev has traded up 5.1% against the U.S. dollar.
Here is how similar cryptocurrencies have performed during the last 24 hours:
- Chainlink (LINK) traded 16.3% higher against the dollar and now trades at $48.37 or 0.00088529 BTC.
- THETA (THETA) traded 9% lower against the dollar and now trades at $10.59 or 0.00019387 BTC.
- Binance USD (BUSD) traded up 0% against the dollar and now trades at $1.00 or 0.00001831 BTC.
- DREP (DREP) traded down 21% against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded 19.5% lower against the dollar and now trades at $1.96 or 0.00003399 BTC.
- PancakeSwap (CAKE) traded down 7.9% against the dollar and now trades at $38.04 or 0.00069620 BTC.
- Aave (AAVE) traded 6% lower against the dollar and now trades at $473.71 or 0.00867075 BTC.
- Maker (MKR) traded down 12.5% against the dollar and now trades at $5,473.44 or 0.10018459 BTC.
- FTX Token (FTT) traded down 2.9% against the dollar and now trades at $55.44 or 0.00101473 BTC.
- Huobi Token (HT) traded down 9.2% against the dollar and now trades at $24.33 or 0.00044537 BTC.
SynLev Coin Profile
According to CryptoCompare, “SynLev is a group of synthetic leveraged asset pairs built and tokenized on Ethereum, price fed data from Chainlink oracles. The goal of SynLev is to provide decentralized, trustless, and non-KYC gated leveraged assets that behave similarly to traditional leveraged ETF’s (e.g. 3X BULL ETH/USD token). Traditionally leverage is achieved through debt or fund re-balancing. SynLev assets do not require fund re-balancing or any form of debt. SynLev assets are deployed in pairs and are collateralized by both the ETH required to mint the tokens, the performance of the opposing asset, and liquidity providers. This system enables unique benefits. Foremost there is no need for an individual counterparty, the effective counterparty for a BEAR token is the entire equity of a BULL token and liquidity providers, greatly reducing counterparty risk. Token pairs are isolated, dramatic price movement cannot affect liquidity of the entire system. Assets do not rely on pooled shared collateral, there is no limit to the number of assets that can be minted. Assets always retain 100% liquidity. “
Buying and Selling SynLev
It is usually not possible to purchase alternative cryptocurrencies such as SynLev directly using US dollars. Investors seeking to trade SynLev should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase SynLev using one of the exchanges listed above.
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