- Bullish Synapse (SYN) price prediction ranges from $0.98 to $1.7.
- Analysis suggests that the SYN price might reach above $2 soon.
- The SYN bearish market price prediction for 2023 is $0.92.
What is Synapse (SYN)?
Synapse is an interoperability protocol that facilitates secure and seamless communication between different blockchains. It comprises three main components: generalized cross-chain communication, an optimistic security model, and a Synapse bridge. With the generalized messaging system, any data, including smart contract calls, can be sent across chains, allowing for universal blockchain composability. This eliminates the need for deploying applications separately across multiple blockchains, creating a centralized application layer.
The optimistic verification feature of Synapse is inspired by Celo’s Optics protocol, and it addresses the security concerns associated with many interoperability platforms. Currently, most bridges use basic multi-sig consensus schemes to speed up cross-chain transactions, exposing users to security risks. Synapse’s optimistic verification protocol offers a better alternative to the traditional verification models by incorporating external validators to verify transactions between chains.
In a future where multi-chain communication is inevitable, protocols like Synapse’s generalized messaging system and optimistic verification will be essential components of infrastructure. These features facilitate secure and seamless communication between different chains, eliminating the need for multiple deployments and reducing security risks.
Optimistic verification is a security mechanism used in Synapse that assumes transactions are honest by default and relies on a network of off-chain actors to submit fraud proofs within an optimistic window to disallow any fraudulent transactions. This mechanism adds a significant layer of security to the network, making it costly for a bad actor to conduct an attack. The four off-chain actors responsible for security in Synapse’s optimistic verification mechanism are the notary, broadcaster, guard, and executor.
The Synapse Bridge is the first user-facing product built on top of the cross-chain communication network. It allows users to safely and securely swap on-chain assets across 15+ EVM and non-EVM blockchains. The bridge supports two types of bridging: canonical token bridging and liquidity-based bridging. Developers can also leverage the bridge to build cross-chain DeFi applications, including DEX, lending platforms, margining systems, derivatives markets, and yield aggregators. The cross-chain AMM provides users with deep liquidity, low fees, and minimal slippage.
The Synapse Bridge has become one of the most widely used and trusted bridges, processing nearly $11 billion in total volume and servicing hundreds of thousands of users, including mass-scale dapps like DeFi Kingdoms. Its ability to seamlessly swap on-chain assets across different blockchains in a safe and secure manner has made it a popular choice for users and developers alike.
Synapse Chain is an Ethereum-based optimistic rollup designed to serve as a sovereign execution environment for cross-chain use cases. It offers a generalized smart contract interface for building natively cross-chain use cases by leveraging Synapse’s cross-chain messaging system. Synapse Chain allows users to interact with the state in an atomic way, even if it’s deployed across various blockchains, which ultimately decreases smart contract complexity and gas costs required to use the system.
Synapse Chain is built as an Optimistic Rollup to ensure EVM compatibility, security, user experience, and simplicity. It leverages the EVM to ensure composability with the rich developer and application ecosystem built around it. Optimistic rollups enable dapps to leverage the security and decentralization of Ethereum’s base layer, which has the highest security spend out of any generalized smart contract blockchain. Rollups offer throughput and scalability that is orders of magnitude higher than that of Ethereum, ensuring applications built on Synapse Chain can foster a user experience akin to that of centralized competitors.
All Synapse Chain blocks will be stored within a smart contract on the Ethereum blockchain. Similarly, block production on Synapse Chain will be managed by a single sequencer, which is also responsible for state updates and submitting transactions back to Ethereum. Decentralization of Synapse Chain’s sequencer will follow the roadmap of prominent rollup protocols. Upon launch of Synapse Chain, gas will be paid to the sequencer in ETH in order to foster the best user experience possible.
Synapse (SYN) Market Overview
| Name | Synapse |
| Symbol | syn |
| Rank | #185 |
| Price | $1.018 |
| Price Change (1h) | -0.30863 % |
| Price Change (24h) | -9.9427 % |
| Price Change (7d) | -20.70918 % |
| Market Cap | $193001818 |
| All Time High | $4.92 |
| All Time Low | $0.3896 |
| Circulating Supply | 190117588.881 syn |
| Total Supply | 184907850 syn |
Synapse (SYN) Current Market Status
According to CoinMarketCap, Synapse (SYN) is hovering over $1.02 at the time of writing, with a total of 139,773,376 SYN in circulation. SYN has a 24-hour trading volume of $20,276,411, with a 20.8% increase. And during the past 24 hours, the price of SYN decreased by 9.9%.
The most popular cryptocurrency exchanges to trade Synapse (SYN) are Binance, KuCoin, Coinbase, Kraken, and Uniswap. Let’s continue with our SYN price research for 2023.
Synapse (SYN) Price Analysis 2023
By market capitalization, SYN ranks 185th on CoinMarketCap’s list of the biggest cryptocurrencies. Will Synapse’s most recent improvements, additions, and modifications help the SYN price rise? First, let’s focus on the charts in this article’s SYN price forecast.
Synapse (SYN) Price Analysis – Keltner Channel
When volatility bands are positioned on either side of an asset’s price, it is possible to determine a trend with the help of the Keltner Channel. Synapse (SYN) price can be predicted using the Keltner Channel indications for SYN/USDT. The price is in the first half of the channel, meaning people are buying SYN rather than selling. For a better risk-free scenario, we should wait for a downturn or a better entry point to improve the reward-to-risk ratio.
Synapse (SYN) Price Analysis – Relative Strength Index
During uptrends, the RSI tends to remain more stable than during downtrends. It makes sense, considering that the RSI tracks gains and losses. During an uptrend, there are more significant gains, maintaining a higher RSI.
In contrast, the RSI tends to linger at lower levels. The Relative Strength Index (RSI) is at the level of 33.09, indicating that sooner or later, it will reach the RSI level of 30 and is expected for a few price retracements soon.
Synapse (SYN) Price Analysis – Moving Average
Above is a 1-Hour Synapse (SYN) 200-day and 50-day Moving Averages (MAs) chart. The chart provides that SYN is trading under both of 200-day and 50-day moving averages meaning that the market is entirely bearish.
However, the distance between the two moving averages is getting wide, indicating that there is more place for the market to dump more. For an excellent risk-to-reward ratio, it is better to wait for a few reversal patterns for crypto investors to lower the risk.
Synapse (SYN) Price Prediction 2023
Looking at the hourly chart of SYN/USDT, the SYN price was declining ever since it first got listed on big exchanges. Moreover, SYN is trading under the 200-day MA, indicating a bearish scenario. At the moment, the price is going rangebound between its resistance and support areas.
Meanwhile, our long-term SYN price prediction for 2023 is bullish if it cannot break the support level. We can expect SYN to reach $1.7441 this year.
Synapse (SYN) Price Prediction 2024
There will be Bitcoin halving in 2024, and hence we should expect a positive trend in the market due to user sentiments and the quest by investors to accumulate more of the coin. Since the Bitcoin trend affects the direction of trade of other cryptocurrencies, we could expect SYN to trade at a price not below $2.2496 by the end of 2024.
Synapse (SYN) Price Prediction 2025
We should expect the price of SYN to trade above its 2024 price due to the possibility of most cryptocurrencies breaking more psychological resistance levels due to the Bitcoin halving over the previous year. Hence, SYN could end 2025 by trading at around $2.8.
Synapse (SYN) Price Prediction 2026
Since the maximum supply of SYN is approached by 2026, the bearish market that follows a solid bullish run impacts its previous price due to the entrance of more institutional investors to its platform. With this, the cost of SYN could break the usual trend and trade at $3.5 by the end of 2026.
Synapse (SYN) Price Prediction 2027
Investors expect a bullish run next year, 2028, due to Bitcoin halving. Hence, the price of SYN could consolidate on the previous gains and even break more psychological resistance levels due to investors’ positive sentiment. Therefore, SYN could trade at $4.6 by the end of 2027.
Synapse (SYN) Price Prediction 2028
In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain higher high values. Synapse (SYN) could hit $6.7 by the end of 2028.
Synapse (SYN) Price Prediction 2029
By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin halving, could surge the price of SYN to $8.8 by the end of 2029.
Synapse (SYN) Price Prediction 2030
The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Synapse (SYN) to trade at around $10.5 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.
Synapse (SYN) Price Prediction 2040
According to our long-term SYN price estimate, SYN prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $25 by 2040. If the market turns bullish, the price of SYN could go up beyond what we predicted for 2040.
Synapse (SYN) Price Prediction 2050
According to our SYN forecast, the average price of SYN in 2050 might be above $59. If more investors are drawn to SYN between these years, the price of SYN in 2050 could be far higher than our projection.
Conclusion
SYN might reach $1.7 in 2023 and $10.5 by 2030 if investors decide that SYN is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
Synapse is an interoperability protocol that facilitates secure and seamless communication between different blockchains. It comprises three main components: generalized cross-chain communication, an optimistic security model, and a Synapse bridge. With the generalized messaging system, any data, including smart contract calls, can be sent across chains, allowing for universal blockchain composability. This eliminates the need for deploying applications separately across multiple blockchains, creating a centralized application layer.
SYN can be traded on many exchanges like other digital assets in the crypto world. Binance, KuCoin, Coinbase, Kraken, and Uniswap are currently the most popular cryptocurrency exchanges for trading SYN.
Since SYN provides investors with several opportunities to profit from their crypto holdings, it seems to be a good investment in 2023. Notably, SYN has a high possibility of surpassing its current ATH in 2024.
SYN is one of the few active crypto assets that continue to rise in value. As long as this bullish trend continues, SYN might break through $5 and reach as high as $10. Of course, if the current market favoring crypto continues, it will likely happen.
SYN is expected to continue its upward trend as one of the fastest-rising cryptocurrencies. We may also conclude that SYN is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.
The lowest SYN price is $0.4296, attained on December 22, 2022, according to CoinMarketCap.
SYN was launched in 2021.
Sankaet Pathak co-founded SYN.
The maximum supply of SYN is 250,000,000 SYN.
SYN can be stored in a cold wallet, hot wallet, or exchange wallet.
SYN price is expected to reach $1.7 by 2023.
SYN price is expected to reach $2.2 by 2024.
SYN price is expected to reach $2.8 by 2025.
SYN price is expected to reach $3.5 by 2026.
SYN price is expected to reach $4.6 by 2027.
SYN price is expected to reach $6.7 by 2028.
SYN price is expected to reach $8.8 by 2029.
SYN price is expected to reach $10.5 by 2030.
SYN price is expected to reach $25 by 2040.
SYN price is expected to reach $59 by 2050.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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