Synapse Price
(SYN)
USD($)
Synapse (SYN) Live Price Chart
Overview
About
Analysis
FAQ
Synapse Live Price Data
How do you feel about Synapse today?
Note: This data is for reference only.
Bullish
Bearish
Synapse(SYN) Profile
Rank254
BExpand 
Website
Documentation
Contract
Ethereum 0x0f2D71...F29BNB Smart Chain (BEP20) 0xa4080f...484Avalanche C-Chain 0x1f1e7c...251
Audited By
https://docs.synapseprotocol.com/security/audits
Investors
Alameda ResearchMechanismCMS HoldingsThree Arrows CapitalDefiance Capital
$0.4463
$0.5213
$5.0100
+2.08%
+5.28%
-7.05%
$100.57M
$196,118
196,875,831
250,000,000
About SYN
How can I buy Synapse (SYN)?
What Is Synapse (SYN) Crypto?
The Synapse protocol supports cross-chain communication and blockchain interoperability, allowing users to transfer data and assets between multiple blockchain networks securely. Synapse promotes interoperability between different blockchains through its extensible cross-chain messaging protocol.
Developers can use its technology to build cross-chain decentralized applications (dApps), especially in the DeFi category. Synapse supports the development of cross-chain DEXs, lending platforms, margining systems, derivatives markets, yield aggregators, and more, offering the potential for far more scalable, complex, and liquid DeFi offerings.
It is the eighth largest DeFi protocol on Arbitrum - a leading Layer2 scaling solution for Ethereum, as of February 2023. It supports cross-chain communication among Arbitrum, Ethereum, Avalanche, BNB Chain, Polygon, Fantom, Metis, Optimism, Harmony, and several other blockchain ecosystems.
SYN is a cross-chain token available on all networks supported by the Synapse protocol and serves as the project’s native utility token. It is used to offer incentives to liquidity providers and functions as the governance token, empowering token holders with voting rights to participate in the decentralized governance mechanism on Synapse.
How Does Synapse Work?
The Synapse interoperability protocol consists of the following elements:
Generalized Cross-chain Communication
Synapse leverages the Synapse Messaging Router to transmit messages between smart contracts from one blockchain to another. The Messaging Router on one blockchain sends the message to the Messaging Router operating on the destination chain. It is then optimistically verified for security and trustlessness before being processed.
Optimistic Security Model
Synapse performs optimistic verification like Celo blockchain’s Optics protocol. Similar to optimistic rollups, Synapse assumes transactions to be honest by default. A network of off-chain validators then submits fraud proofs within an optimistic window to prevent fraud within the network.
Synapse Bridge
Synapse Bridge is the protocol’s first user-facing product that users and developers can utilize to swap cross-chain tokens across the supported blockchain networks. It can be used to swap wrapped assets across multiple blockchains (canonical token bridging) and bridge native assets across cross-chain stableswap pools (liquidity-based bridging).
When Was Synapse Launched?
Synapse was launched in August 2021, and a month later, the protocol launched the ETH bridge between Ethereum and Arbitrum. In October, the platform allowed stablecoins to be bridged between Arbitrum and Fantom.
In November 2021, the protocol launched stablecoin bridges to Harmony and Boba Network, a cross-chain bridge to Moonriver, and ETH bridges to Optimism and Boba Network, followed by an ETH bridge to the Avalanche blockchain.
In 2022, the Synapse protocol rolled out ETH bridges to Harmony, Fantom, and Metis, bridges to Moonbeam, Cronos, Terra, and stablecoin bridges to Aurora, Metis, and Optimism. In March 2022, Synapse became the official DFK Chain bridge.
In May 2022, Synapse launched the first NFT bridge to bring DFK Heroes to Harmony from the DFK Chain. In June, it launched a bridge for selected tokens to Klaytn, followed by a similar feature to Dogecoin in August.
Synapse (SYN) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $0.0258 | 5.33% |
| 7 Days | $-0.0385 | -7.00% |
| 30 Days | $-0.0692 | -11.93% |
| 3 Months | $0.0256 | 5.28% |
24H Investment Barometer
24H
Strong Buy
The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Risk warning：Please note that the Investment Barometer is provided for informational purposes only and is not an investment advice. Investing carries risk. Please make investment decisions cautiously and based on your own judgement.
Strong SellSellNeutralBuyStrong Buy
Synapse Conversion Rate
FAQ
How much is 1 Synapse (SYN) worth?KuCoin provides real-time USD price updates for Synapse (SYN). Synapse price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time SYN to USD exchange rates.
Is Synapse Crypto a Good Investment?
The SYN token could be a good investment to include in your crypto portfolio, especially if you believe in the potential of DeFi and blockchain interoperability. One of the most significant factors to mainstream DeFi is interoperability and cross-chain communication. These features can make DeFi protocols more scalable, liquid, and suited to real-world commercial applications.
The Synapse price could head higher as the protocol adds support for more blockchains and tokens. This could increase liquidity and make the platform more appealing to DeFi users.
The SYN price could also benefit from improved market sentiment toward cryptocurrencies, particularly DeFi. Such sentiments could spur higher interest among investors in the token, boosting the SYN price statistics.
What Is the SYN Coin Price Prediction?
Although offering an accurate Synapse crypto price prediction is impossible, you can pay attention to several fundamentals that drive significant price action and volatility in the SYN token. These include:
Level of Adoption
As more developers and users sign up to access cross-chain communication capabilities through the Synapse protocol, the demand for its native token could increase. This could drive up the value of SYN crypto and make it more attractive to invest in and hold.
New Integrations and Features
When the developers introduce new features or launch bridges to more blockchain networks in the future, investor confidence in the SYN coin picks up. This would make the crypto more appealing to investors, sending the Synapse price and market cap upwards.
Market Outlook
A favorable market outlook towards digital assets in general and their mainstream adoption, especially the DeFi sector, would be especially beneficial to the Synapse token. In addition, a bullish or risk-on mood among investors could increase buying activity in the market, supporting the Synapse token price. However, a risk-averse or bearish sentiment could result in sell-offs that could weaken the price of SYN token.
How to Use SYN Token
$SYN is the native utility token of the Synapse protocol. It has the following use cases:
Incentive Token
SYN is used to provide incentives for liquidity providers on the Synapse protocol. Users who deposit their tokens in Synapse’s liquidity pools receive rewards in the form of $SYN crypto.
Governance Token
SYN token holders enjoy voting rights and can participate in community governance. They can vote on smart contract upgrades proposals, DAO treasury expenditures, and more.
Native Currency
$SYN is also used to pay transaction fees when using the Synapse network. SYN is the native currency used to pay when performing swaps, using the Synapse bridge, etc.
Crypto Asset to Trade and HODL
Trade Synapse against other cryptocurrencies to profit from changing market conditions and volatility. You can buy or sell SYN against other crypto assets in the market or hold it long-term if you believe in the future potential of the Synapse protocol. Review the current price of Synapse, SYN current market cap, current circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the SYN price chart before trading Synapse in the market.
How to Earn SYN Crypto Via Staking
Staking on the Synapse protocol is a convenient option to grow your crypto holdings. You can stake your LP tokens after providing liquidity to the protocol and earn SYN as an incentive. Here’s how to do this:
1. Visit the Synapse dApp and connect your wallet to its interface. Provide liquidity on the platform to earn LP tokens on your chosen network.
2. Head to the Stake section of the app and review the available pools to stake your LP tokens.
3. Input the number of LP tokens you wish to stake. Select Max if you want to stake all your tokens in the pool.
4. Click on Stake to confirm the transaction.
5. Sit back, earn rewards in SYN, and grow your SYN holdings by staking on Synapse.
How Many Synapse Tokens Are There?
The max supply of SYN has been set at 250,000,000. Of these, the SYN circulating supply stands at just under 140,000,000 as of March 2023. The supply of SYN tokens could change based on the level of activity on the Synapse platform, community discussions, and governance votes in the future.
What is the all-time high price of Synapse (SYN)?
The all-time high price of Synapse (SYN) is $5.0100. The current price of SYN is down 0.90% from its all-time high.
What is the all-time low price of Synapse (SYN)?
The all-time low price of Synapse (SYN) is $0.2670. The current price of SYN is up 0.91% from its all-time low.
How much Synapse (SYN) is there in circulation?
As of 11 21, 2024, there is currently 196,875,831 SYN in circulation. SYN has a maximum supply of 250,000,000.
What is the market cap of Synapse (SYN)?
The current market cap of SYN is $100.57M. It is calculated by multiplying the current supply of SYN by its real-time market price of $100.57M.
How do I store Synapse (SYN)?
You can securely store your Synapse in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your SYN include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
Fear & Greed Index
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Extreme greed90
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2024-11-22 00:58:31 (UTC+8)
24h Volume3,659,349,217USDT