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SBTC Price Today
sBTC price today is $24,968.88 with a 24-hour trading volume of $2,870,723. SBTC price is up 3.0% in the last 24 hours. It has a circulating supply of 650 SBTC coins and a total supply of 650. If you are looking to buy or sell sBTC, Kwenta is currently the most active exchange.
What was the highest price for sBTC?
sBTC hit an all time high of $68,573.86 on Nov 10, 2021 (9 months).
What was the lowest price for sBTC?
sBTC had an all time low of $4,107.15 on Mar 13, 2020 (over 2 years).
What was the 24 hour trading volume of sBTC?
The 24 hour trading volume of sBTC is $2,870,723.
Where can sBTC be traded?
You can trade sBTC on Kwenta. Popular trading pairs for sBTC in the market includes SBTC/USD, SBTC/CAD, SBTC/EUR, SBTC/PHP, SBTC/INR, and SBTC/IDR.
What is sBTC?
sBTC or synthetic BTC is a synthetic asset launched by Synthetix Exchange. sBTC mirrors and tracks the price of Bitcoin provided by an oracle - Chainlink.
What are synthetic assets?
Synthetic assets or Synths are derivatives that provide exposure to real-world assets on the Ethereum blockchain. Like derivatives in traditional financial markets, Synths allow users to hedge and reduce their risk, speculate on price movements, and gain access to unavailable assets or markets. This is all accomplished without an individual ever holding the underlying asset.
How can I obtain sBTC?
To obtain sBTC, users must first obtain Synthetix Network Tokens, which is Synthetix’s native token. Users can buy SNX from exchanges such as Binance and Uniswap.
With SNX, users can then stake SNX as collateral on Mintr to mint sUSD, a synthetic US dollar stablecoin.
The amount of sUSD minted will depend on two factors: SNX staked and the collateralization ratio (C-Ratio) of the platform. Currently, the C-Ratio is 500%. This means that if the value of SNX or Synths fluctuates, the user’s C-Ratio will fluctuate as well.
The minted sUSD can then be exchanged for sBTC or other Synths on Synthetic Exchange.
Alternatively, users can also buy sUSD directly on Synthetix Exchange with ETH. The purchased sUSD minted can then be exchanged for sBTC and other Synths on Synthetic Exchange.
What other synthetic assets are there?
The Synths tab within Synthetix Exchange displays all its supported synthetic assets available to trade. To learn more about the inner workings of the different Synth types in detail, simply head to Synthetic’s litepaper.
In general, there are five types of synthetic assets:
Foreign Exchange (Forex): Synths that track the price of forex currencies
Examples: sUSD, sEUR, sAUD etc.
Commodity: Synths that track the price of commodities
Examples: sOIL, sXAU, sXAG
Crypto: Synths that track the price of cryptocurrencies
Examples: sBTC, sETH, sXRP etc.
Index: Synths that track an index - a basket of stocks or cryptocurrencies
Examples: sDEFI, sCEX, sNIKKEI etc.
Inverse (iSynths): Synths that inversely track the price of assets, such as cryptocurrencies or commodities
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Examples: iBTC, iETH, iOIL, etc.
