Synthetix: Days after $18m worth of selling, is SNX preparing for recovery - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Synthetix: Days after $18m worth of selling, is SNX preparing for recovery

PublisherPublisher
AMB Crypto

Sat, Jul 02, 2022

Banner

Aliens TLDR

Synthetix Network [SNX] , unlike the rest of the networks, has not been following the broader market’s cues.

Consequently, on 20 June it rallied by 109% in 24 hours and investors found the perfect opportunity to not only save themselves from crippling losses but also inspire day traders to short the altcoin (ref.

They consequently, ended up selling almost $8 million worth of SNX on the same day.

The sentiment did not change for the next couple of days, and by the time of this report, 7.8 million SNX valued at $18 million was sent to the exchanges.

However, apart from the initial selling, every other token sold was at the behest of the bearish market since the altcoin fell by 31.75% in the next ten days.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Litecoin falls beneath a bullish order block, could $40 be next target

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. Just a week ago, Litecoin [LTC] rallied to the $61 level but faced rejection there. This was a bearish development, especially for long-term investors. The market structure continued to remain bearish, and […]
AMB Crypto
·

Jul 3

Altcoin

Recommended Stories

Article

AAVE traders have this in store for coming days after bearish pennant’s…

Article

Assessing the odds of The Sandbox [SAND] falling below $1 mark

Article

Axie Infinity: Risk would be to buy range lows with a stop-loss at…

Article

Stellar: Factors that didn’t play in favor of XLM’s rally despite…

Article

Bitcoin, Ethereum and Altcoins Present Signs of Incoming Price Turnaround; Here’s When

Article

BTC, SOL and AVAX Price Analysis for July 2

Article

3 Reasons Why Bitcoin Might Retrace in Upcoming Week and Reach $22,000

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise