Synergy Trading 13.3% Lower This Week (SNRG)

Synergy (SNRG) traded down 0.6% against the US dollar during the 24-hour period ending at 21:00 PM Eastern on April 30th. One Synergy coin can now be purchased for approximately $0.0388 or 0.00000103 BTC on major exchanges. Synergy has a total market cap of $190,105.93 and approximately $8.00 worth of Synergy was traded on exchanges in the last day. In the last seven days, Synergy has traded 13.3% lower against the US dollar.

Here’s how related cryptocurrencies have performed in the last day:

  • Dash (DASH) traded 8.7% lower against the dollar and now trades at $85.09 or 0.00225890 BTC.
  • Secret (SCRT) traded 5.2% lower against the dollar and now trades at $3.97 or 0.00010526 BTC.
  • Immutable X (IMX) traded down 15% against the dollar and now trades at $1.34 or 0.00003555 BTC.
  • DigitalBits (XDB) traded down 12.5% against the dollar and now trades at $0.23 or 0.00000608 BTC.
  • MimbleWimbleCoin (MWC) traded down 8.5% against the dollar and now trades at $6.24 or 0.00016565 BTC.
  • Boson Protocol (BOSON) traded 12.8% lower against the dollar and now trades at $0.58 or 0.00001549 BTC.
  • Inverse Finance (INV) traded 10.2% lower against the dollar and now trades at $202.02 or 0.00536278 BTC.
  • Meme (MEME) traded flat against the dollar and now trades at $409.51 or 0.00754320 BTC.
  • CPChain (CPC) traded down 1.2% against the dollar and now trades at $0.0053 or 0.00000014 BTC.
  • SYNC Network (SYNC) traded 5.3% lower against the dollar and now trades at $0.0159 or 0.00000042 BTC.

Synergy Profile

Synergy is a PoW/PoS coin that uses the X11 hashing algorithm. Its launch date was May 26th, 2015. Synergy’s total supply is 4,897,672 coins. Synergy’s official website is www.synergycoin.com. The Reddit community for Synergy is /r/SynergyCoin and the currency’s Github account can be viewed here. Synergy’s official Twitter account is @SynergyCoin and its Facebook page is accessible here.

According to CryptoCompare, “Synergy is a peer-to-peer decentralized cryptocurrency that uses a dual-algorithm system to mine blocks. For the first 10 days, which contains the full PoW (proof of work) period, Synergy uses the X11 algorithm. Because X11 is unnecessarily inefficient after PoW, Synergy switches to SHA256d for the PoS period (proof of stake). SHA256d is easier on CPUs during syncronization and bootstrap because it requires only two hashes¬†to verify a block whereas X11 requires 11 hashes. The early part of the Synergy PoS period makes use of Turbo Stake, which awards Synergy holders greater interest for every stake. The multiplier is directly used in the reward calculation by multiplying it with the base Synergy interest rate of 10% per year. Holders build the Turbo Stake multiplier over two days by staking consistently. After that, the multiplier will level out and the holder will stake with a consistent rate that depends on how much stake competes with his. The Turbo Stake period lasts 30 days from the time of launch.¬† “

Buying and Selling Synergy

It is usually not currently possible to buy alternative cryptocurrencies such as Synergy directly using U.S. dollars. Investors seeking to acquire Synergy should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Synergy using one of the aforementioned exchanges.

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