- #1506
sBTC SBTC
SBTC Price
Market Cap
$14.38 MRank #1506FDV
$14.38 MRank #1696Investors
X Followers
Detailed Performance
SBTC shows Bearish signs against top cryptocurrencies, leading categories and blockchains over various time periods
SBTC to USD Converter
Price History
- All-Time High
- $88,688.001.24x to ATH
- All-Time Low
- $0.588122087x to ATL
- Trade Launch Date
- 15 Dec, 2019
1833 days ago
About SBTC
sBTC is a synthetic asset that represents the price of Bitcoin (BTC) within the Synthetix ecosystem. It is created by minting sBTC tokens, which are backed by SNX stakers who have created debt by minting Synths. The value of sBTC is intended to track the price of BTC, allowing users to gain exposure to Bitcoin without actually owning the underlying asset.
What makes sBTC unique?
sBTC, which is a synthetic Bitcoin (BTC) token on the Synthetix platform, has a few unique characteristics compared to other cryptocurrencies:
1. Synthetic Nature: Unlike other cryptocurrencies that represent the actual asset, sBTC is a synthetic representation of Bitcoin. It is designed to track the price of Bitcoin without directly holding the underlying asset. This allows for exposure to Bitcoin's price movements without needing to own and manage actual BTC.
2. Decentralized Derivative: sBTC is part of the Synthetix protocol, which is a decentralized derivatives platform. It enables users to trade various synthetic assets, including sBTC, with leverage and without the need for a centralized intermediary.
3. Liquidity and Trading Opportunities: As a synthetic asset, sBTC benefits from the liquidity and trading opportunities provided by the Synthetix ecosystem. Traders can leverage sBTC to speculate on Bitcoin price movements or use it as a tool for hedging their positions.
4. Accessibility: sBTC provides accessibility to Bitcoin exposure for users who may face restrictions or limitations in accessing the traditional Bitcoin market. It allows individuals to gain exposure to Bitcoin's price without needing to navigate the complexities of purchasing and securely storing actual BTC.
5. Integration with DeFi: sBTC can be seamlessly integrated into decentralized finance (DeFi) platforms and protocols. This enables users to utilize their sBTC holdings for various DeFi applications, such as lending, borrowing, or providing liquidity, thereby expanding its utility beyond just price speculation.
It's important to note that while sBTC aims to replicate the price of Bitcoin, it is not the same as holding physical BTC. As with any synthetic asset, there may be risks involved, including potential deviations from the actual Bitcoin price and counterparty risks associated with the protocol.
Live sBTC Price Data
The current price of sBTC (SBTC) is approximately $71,786.93, reflecting a decrease of -8.71% in the last 24 hours. The SBTC trading volume in the last 24 hours stands at $102.45. sBTC's market cap is currently $14.38 million, accounting for about < 0.01% of the total crypto market cap. The circulating supply of SBTC is 200.36.
For a comprehensive list of exchanges, visit our crypto exchanges page. To understand sBTC's performance over time, consider exploring its price history and ROI. For in-depth analysis and insights on SBTC, check out our crypto insights page.
Official Links
SBTC to USD Converter
Price History
- All-Time High
- $88,688.001.24x to ATH
- All-Time Low
- $0.588122087x to ATL
- Trade Launch Date
- 15 Dec, 2019
1833 days ago