

Synthetix V3: Crucial Details You Need to Know About This Upgrade!

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Synthetix V3 is evolving the derivatives trading landscape with a range of Pools and Vaults for stakers and protocols to collateralize new derivatives markets. V3's key features include Multi-Collateral Staking, a Developer-Friendly System, and Cross-Chain capabilities.
Synthetic V3 to Release in Phases
Decentralized Finance (DeFi) protocol Synthetix has launched V3 on Ethereum Mainnet and Optimism after a security audit by Open Zeppelin, Iosiro, and Macro.
Upon initial release, the V3 didn’t have all the features available. The release of Synthetix V3 will take place gradually over the coming months as users will transition from Synthetix V2x to Synthetix V3. Let’s have a look at the features that will be made available.
Features of Synthetix V3:
- Variety of Derivative Markets: Through v3, Synthetix becomes a layer of liquidity on which different derivative markets can be built, such as perpetual futures, spots, options, insurance, and exotics.
- Synthetic Asset Creation: The use of market pricing logic and price feeds allows the deployment of new synthetic assets like Spot BTC, Spot ETH, ETH Perps, BTC Perps, ETH Options, etc. Previously, these assets required approval from governance, but soon they will rely only on market logic and price feeds.
- Cross-Chain Infrastructure: Synthetix V3 employs cross-chain functionality and supports synthetic assets on any EVM compatible chain. As a result, the destination chain is not subject to slippage due to a lack of liquidity.
- Multi-Collateral Staking: Governance in V3 supports any collateral for backing synthetic assets. This will reportedly increase sUSD liquidity and the markets supported by Synthetix. Further, Governance will be able to adjust variables such as collateral requirements and rewards.
- More Secure Synthetix Loans: Users can now provide collateral to generate sUSD without incurring debt pool risk, interest costs, or issuance fees.
- Differentiated Liquidity (Debt) Pools: Instead of delegating collateral to the entire debt pool as in V2x, users can select the pools to provide collateral to and then decide which markets and assets to support within those pools.
- Choice From Multiple Oracles: With V3, multiple Oracle solutions are available such as Chainlink and Pyth, giving market creators better control over the oracles that power their markets.
- Rewards Manager: Pool creators can attach rewards distributors to vaults, rewarding liquidity providers that offer specific collateral types. There are a variety of ways to earn rewards, including market fees and token distributions.
Due to the fact that V3 does not have any markets attached to it currently, its primary function is to generate a dollar-denominated stablecoin for use in integrated markets. Synthetix (SNX) is trading at $2.18, up 1.60% in 24 hours.
What is Synthetix:
Synthetix is a decentralised liquidity layer built on Ethereum and Optimism that acts as a backend for DeFi protocols. Stakers provide liquidity to collateralize a portfolio of synthetic assets in exchange for rewards and market yields. This liquidity is used to underwrite synthetic assets and perpetual futures trading at oracle prices, removing the need for traditional order books and counterparties. As a result, liquidity is commutable and fungible across markets, and traditional slippage is eliminated.
Learn more about Synthetix:
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BTC Price Predictions: Analysts Wade in on the Future of Bitcoin

Top experts have predicted a bullish price movement for BTC in 2024, primarily because of the upcoming halving event.
Bitcoin (BTC), the flagship cryptocurrency, has always been a hot topic for analysts and enthusiasts. Over the past year, many have ventured to predict its price trajectory.
As of January 1 this year, BTC was trading at $16,547, per CoinMarketCap data. This led to speculations that the crypto market might be entering a challenging phase, with many predicting that the bull run might come in 2024, in line with the halving event.
As we approach the end of 2023, let's evaluate some of these predictions and their current status.
PlanB’s Prediction:
PlanB, known for creating the Stock-to-Flow model, made a significant prediction on January 12, 2023. He stated on Twitter that Bitcoin's price of $15.5K in November 2022 would be its lowest. He further mentioned that BTC had surpassed its Short Term Holder (STH) phase and would continue to rise steadily towards the 2024 halving event.
According to PlanB, BTC will trade above $32K during the 2024 halving, expected around April, according to reports. He also predicted that the bull market would begin in 2025, with BTC surpassing the $100K mark.

So far, PlanB's forecast seems accurate. BTC has not dipped below $15.5K since November 2022 and has climbed from $18K in January to $26K currently. PlanB reaffirmed his prediction by quoting his January tweet, saying, "To be clear, I still stand by my January 12 prediction."
To be clear, I still stand by my January 12 prediction:
— PlanB (@100trillionUSD) September 18, 2023
✅ Nov 2022 $15.5k was the bottom
✅ Bitcoin will rise towards 2024 halving. BTC already rose from $18k to $27k since Jan 12.
❓ 2024 halving will be >$32k ($32k-$66k IMO)
❓ 2025 bull market >$100k ($100k-$1m IMO) https://t.co/V74Y8VYCVo pic.twitter.com/VBjsHObMMl
Tim Draper’s Prediction:
Tim Draper, a renowned venture capitalist, made a bold prediction in 2018, stating that BTC would hit $250K by 2022. As we're in 2023, this prediction has yet to materialize.
Oops! I predicted $250k in 2022. My tweet last night was missing a zero. $250k is the number!
— Tim Draper (@TimDraper) April 13, 2018
However, Draper has been right before. In 2014, after buying millions worth of BTC, he predicted its price would reach $10K within three years. This prediction came true in 2017.
In an interview with Hall of Fame, Draper admitted feeling pressured to make another prediction after his first one's success. He attributed the unfulfilled $250K prediction to actions by the U.S. government. Yet, he remains hopeful, stating in December 2022 that BTC would reach $250K before the 2024 halving. He humorously added, "If it’s not $250,000 or higher, then don’t listen to me ever again on that kind of prediction."
Robert Kiyosaki’s Views:
Robert Kiyosaki, a prominent figure in the crypto space, has been vocal about his BTC price predictions. In July, he tweeted that BTC would reach $120K the following year (2024). This came after his earlier prediction of BTC hitting $500K by 2025. Despite BTC's price fluctuations, Kiyosaki has consistently advised people to invest in it and gold and silver.
SOFT LANDiNG? HARD LANDING? Or CRASH LANDING? I say crash landing. I hope I am wrong yet that is what I believe. Corruption is high & leaders corrupt. Buy gokd, silver, Bitcoin. Still best insurance against corruption & incompetence,
— Robert Kiyosaki (@theRealKiyosaki) May 18, 2023
However, his recent tweet with the caption "BYE BYE Bitcoin and US Dollar?" has left many wondering about his current stance on BTC.
BYE BYE Bitcoin & US Dollar? Citibank announced today it is offering bank block chain technology to turn institutional savings into Citibank tokens which can be used for instaneous 24/7 cross border transactions. Bye bye BC & US $?
— Robert Kiyosaki (@theRealKiyosaki) September 26, 2023
Pantera Capital and Chartered Bank
As reported by Crypto News Flash, American hedge fund Pantera Capital and Chartered Bank, a British multinational bank, have similar views about the BTC’s price.
The news outlet disclosed that Pantera Capital predicts $150K for BTC, while Chartered Bank sees BTC reaching the $120K mark in 2024. Both bold predictions have been made due to the highly anticipated halving event in 2024. Historically, Bitcoin's halving is seen as a bullish event in the blockchain industry.
What Next For BTC?
Predicting BTC's price is challenging, given its volatile nature. While some predictions are on track, others have not materialized. As with any investment, it's essential to do thorough research and consult with financial experts before making decisions. Only time will tell which of these predictions, if any, will come to fruition.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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