sBTC

SBTC Price

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

• Examples: iBTC, iETH, iOIL, etc.

Where can you buy sBTC?

SBTC tokens have stopped trading 14 days ago on all exchanges listed on CoinGecko. Information will be updated if market activity resumes.

What is the daily trading volume of sBTC (SBTC)?

The trading volume of sBTC (SBTC) is $13,313.61 in the last 24 hours, representing a 0.00% increase from one day ago and signalling a recent rise in market activity.

What is the all-time high for sBTC (SBTC)?

The highest price paid for sBTC (SBTC) is BTC2.0214, which was recorded on Nov 21, 2024 (23 days). Comparatively, the current price is - lower than the all-time high price.

What is the all-time low for sBTC (SBTC)?

The lowest price paid for sBTC (SBTC) is BTC0.00002404, which was recorded on Aug 13, 2022 (over 2 years). Comparatively, the current price is - higher than the all-time low price.

What is the market cap of sBTC (SBTC)?

Market capitalization of sBTC (SBTC) is BTC161.3319 and is ranked #1574 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SBTC tokens (200 tokens are tradable on the market today).

What is the fully diluted valuation of sBTC (SBTC)?

The fully diluted valuation (FDV) of sBTC (SBTC) is BTC161.3319. This is a statistical representation of the maximum market cap, assuming the maximum number of 200 SBTC tokens are in circulation today. Depending on how the emission schedule of SBTC tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of sBTC compare against its peers?

With a price increase of 0.00% in the last 7 days, sBTC (SBTC) is outperforming the global cryptocurrency market which is down -1.00%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.

How to add sBTC (SBTC) to MetaMask?

Adding sBTC (SBTC) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import SBTC as a token. You can copy SBTC’s contract address (0xfe18be6b3bd88a2d2a7f928d00292e7a9963cfc6) and import it manually, or if you've installed MetaMask's chrome extension, add SBTC to MetaMask with one click on CoinGecko.

Add SBTC to MetaMask.