What is the circulation amount of Synapse (SYN) coins?

The circulation amount of SYN coins, approximately 48,956,123 tokens, is crucial in evaluating the liquidity and distribution within the Synapse ecosystem.

Nov 28, 2024 at 06:22 pm

What is the Circulation Amount of Synapse (SYN) Coins?

Synapse (SYN) is a decentralized cross-chain liquidity protocol that enables the exchange of tokens across different blockchains. The SYN token is the native utility token of the Synapse ecosystem and is used for various purposes, such as:

• Transaction fees: SYN tokens are required to pay transaction fees on the Synapse network.
• Staking: SYN tokens can be staked to earn rewards and participate in the network's governance.
• Governance: SYN token holders can participate in the governance of the Synapse protocol by voting on proposals.

The circulation amount of SYN coins is an important metric that reflects the number of tokens that are currently in circulation. This metric can be used to assess the overall liquidity and distribution of the token.

How to Determine the Circulation Amount of Synapse (SYN) Coins

The circulation amount of SYN coins can be determined by subtracting the number of tokens that are locked up or held in reserve from the total supply of the token. The total supply of SYN coins is capped at 100,000,000 tokens.

According to CoinMarketCap, the current circulation amount of SYN coins is approximately 48,956,123 tokens. This means that approximately 51.04% of the total supply of SYN coins is currently in circulation. The remaining 48.96% of the tokens are either locked up or held in reserve.

Factors Affecting the Circulation Amount of Synapse (SYN) Coins

The circulation amount of SYN coins can be affected by a number of factors, such as:

• Token issuance: The release of new SYN tokens into the market can increase the circulation amount.
• Token burns: The burning of SYN tokens can decrease the circulation amount.
• Staking: The locking up of SYN tokens for staking can reduce the circulation amount.
• Treasury: The allocation of SYN tokens to the project's treasury can also affect the circulation amount.

Understanding the Importance of the Circulation Amount of Synapse (SYN) Coins

The circulation amount of SYN coins is an important metric that can provide insights into the overall health and activity of the Synapse ecosystem. A high circulation amount can indicate that the token is widely used and has a high level of liquidity. A low circulation amount can indicate that the token is less widely used and may have a lower level of liquidity.

Conclusion

The circulation amount of Synapse (SYN) coins is a key metric that can provide valuable insights into the overall health and activity of the Synapse ecosystem. By understanding the factors that affect the circulation amount, investors can better assess the potential risks and rewards associated with investing in SYN tokens.