Overview of Synapse (SYN): price, market capitalization, and what you should know - Cryptocurrency news today

Synapse (SYN) — is an innovative cross-chain protocol that enables decentralized, seamless transactions between different blockchains, including L1, sidechains, and L2. Currently, the coin's price is $0.082, with a market capitalization exceeding $18 million, making it attractive for investors seeking projects with potential in the inter-network interaction space.

Price and Market Metrics

| Indicator | Value | | --- | --- | | Price (USD) | $0.082365 | | Market Cap (USD) | $18,137,179 | | Rank by Market Cap | 881 | | 24h Trading Volume (USD) | $37,957,909 | | 24h High | $0.096886 | | 24h Low | $0.049344 | | Price Change over 24h | +60.99% | | Price Change over 7 Days | +196.05% | | Circulating Supply | 219,066,529 SYN | | Total Supply | 250M SYN | | Max Supply | 250,000,000 SYN | | Fully Diluted Valuation | $20,698,254 |

What is Synapse

Synapse is an ∞ level cross-chain protocol that provides seamless interaction between different blockchains. Its main goal is to create a decentralized, permissionless platform for transactions across any L1, sidechain, or L2 ecosystem. This allows users to transfer assets, swap tokens, and send messages with cross-chain functionality.

The protocol supports key operations such as bridging and swapping stable assets between chains, as well as providing liquidity pools for cross-chain exchanges with minimal impermanent loss. As a result, Synapse lays the foundation for new financial primitives based on its architecture.

Price Dynamics

In the last 24 hours, the SYN price increased by 60.99%, indicating significant interest from traders and investors. Over the past week, the growth is nearly 196%, which is impressive for a cryptocurrency with a market cap of around $18 million.

The maximum price in the last 24 hours reached $0.096886, while the minimum was at $0.049344, indicating high volatility. This dynamic may be linked to active protocol development and increased demand for cross-chain solutions in the crypto space.

Key Facts

• Synapse is a cross-chain protocol supporting transactions between different blockchains without intermediaries.
• The platform allows bridging and swapping stable assets with minimal liquidity loss.
• The SYN coin has a maximum supply of 250 million tokens, with over 219 million in circulation.
• The project is integrated into the ecosystems of BNB Chain, Avalanche, Polygon, Fantom, Arbitrum, and Olympus Pro.
• The current market cap of SYN is about $18 million with a significant daily trading volume.

Risks

Like any cryptocurrency, Synapse carries risks. Its high price volatility can lead to significant fluctuations in investment value over a short period. Additionally, technological risks related to the security of cross-chain protocols may affect the platform's stability.

Regulatory changes in the cryptocurrency sphere could also impact the development and adoption of Synapse. Investors should carefully assess risks and avoid investing funds they are not prepared to lose.

FAQ

What is Synapse (SYN)?

Synapse is an ∞ level cross-chain protocol that provides decentralized transactions between different blockchains, including L1, sidechains, and L2.

How can SYN be used?

The SYN coin is used to provide liquidity in pools, for bridging, and swapping stable assets between different blockchains within the Synapse ecosystem.

What are the main risks of investing in SYN?

Main risks include high cryptocurrency volatility, technological challenges of cross-chain protocols, and possible regulatory restrictions.

This overview is not financial advice. Before investing, it is recommended to conduct your own analysis and consult with professionals.

Source: www.coingecko.com