sBTC

sBTC

SBTC
$28,824.22

Key Metrics

Price$28,824.22
Real Volume (24H)$0
Marketcap$8,542,996.3
Fully Diluted Valuation$4,641,585
ATH$68,574
ATH Date11/10/2021, 8:44:17 PM
ATL$0.587918
ATL Date8/14/2022, 1:43:15 AM
Circulating Supply286
Total Supply286
WebsiteN/A
WhitepaperN/A
Popularity Rank1342
Chart
What is sBTC?

Bitcoin has long been a dominant force in the world of cryptocurrency, and with the rise of DeFi, new opportunities for innovation have emerged. sBTC is one such innovation, a synthetic Bitcoin token enabled by the Synthetix protocol that tracks the price of Bitcoin through price feeds supplied by Chainlink's decentralized network of oracles.

sBTC offers traders a unique way to gain exposure to Bitcoin without having to hold the actual cryptocurrency. With sBTC, traders can take advantage of the benefits of the Synthetix protocol, including the ability to trade without slippage for other assets native to the Synthetix protocol at Kwenta or Synthetix.Exchange.

One of the primary benefits of sBTC is its ability to track the price of Bitcoin in real-time through Chainlink's decentralized network of oracles. This ensures that the price of sBTC is always accurate, enabling traders to make informed decisions based on the most up-to-date information available.

Moreover, sBTC is built on the Synthetix protocol, which is designed to enable the creation of a wide range of synthetic assets. This opens up a world of possibilities for traders, who can use sBTC as a gateway to other synthetic assets within the Synthetix ecosystem.

Trading sBTC is easy and straightforward. Traders can buy and sell sBTC on Kwenta or Synthetix.Exchange without slippage, which means that the price of sBTC is always reflective of its underlying value. This makes it a popular choice among traders who want to avoid the volatility and risk associated with holding Bitcoin directly.

The Synthetix protocol also offers a range of other benefits for traders, including low fees and fast transaction times. This makes it an attractive choice for traders who want to take advantage of the benefits of DeFi without incurring high costs.

In addition to its benefits for traders, sBTC also has broader implications for the world of cryptocurrency. By enabling the creation of synthetic assets that track the price of other cryptocurrencies, sBTC and other synthetic assets like it are helping to bridge the gap between traditional finance and the world of cryptocurrency.

In conclusion, sBTC is a synthetic Bitcoin token that offers traders a unique way to gain exposure to the price of Bitcoin without having to hold the actual cryptocurrency. Enabled by the Synthetix protocol and powered by Chainlink's decentralized network of oracles, sBTC is an innovative solution that opens up a world of possibilities for traders in the world of DeFi. With its accurate price tracking, low fees, and fast transaction times, sBTC is a popular choice for traders who want to take advantage of the benefits of DeFi without the volatility and risk associated with holding Bitcoin directly.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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