Synthetix Community Observes Slow Movement Of $SNX Token Amidst Crypto Market Surge

2024-3-10 12:36

The Synthetix community is closely monitoring the movement of the $SNX token against the backdrop of a bullish trend in the broader cryptocurrency market. 

Despite the upward trajectory seen across various digital assets, $SNX has struggled to gain momentum throughout the week, leaving investors eager for a potential breakout.

According to on-chain reports sourced from Spotonchain, Framework Ventures, a prominent investor in Synthetix, has reentered the fray by depositing 4 million SNX tokens ($17.96 million) into Coinbase Prime. 

This move comes after a period of seven months of inactivity, signaling renewed interest from the venture capital firm.

Framework Ventures (@hiFramework), allegedly the largest $SNX holder, deposited 4M $SNX ($18M) to #Coinbase in the past 14 hours.

Since Jul 2022, the VC has deposited 7.9M $SNX ($30.2M) to #Coinbase, often before the price dropped.

Now, the VC still holds 19.3M $SNX ($85.4M).… pic.twitter.com/nPHmslJaAr

— Spot On Chain (@spotonchain) March 8, 2024

Framework Venture’s Full Involvement In Synthetix SNX

Framework Ventures’ involvement with Synthetix dates back to their investment in the project. The firm has been actively managing its SNX holdings, having vested 24 million SNX tokens across both the Ethereum and Optimism chains since October 29, 2021. 

Notably, Framework Ventures previously deposited 7.9 million SNX tokens to Coinbase, acquiring them at an average price of $3.82 ($30.18 million) between July 30, 2022, and the time of the price drop. Presently, the firm still maintains a substantial holding of 19.3 million SNX tokens ($85.4 million) within the Synthetix ecosystem.

In recent trading sessions, $SNX has experienced a marginal decline of 3% over the past 24 hours, adding to the cautious sentiment among investors.

While the broader crypto market continues its bullish ascent, the Synthetix community remains watchful, anticipating developments that could potentially drive the $SNX token to new highs or present challenges to its current trajectory.

As Framework Ventures reengages with Synthetix, the market awaits further insights into the firm’s strategies and its impact on the future of $SNX.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: iloveotto/123RF // Image Effects by Colorcinch

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Synthetix Network Token (SNX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $2.0842
Капитализация $0 Rank 99999
Доступно / Всего 0 SNX

snx market synthetix community token movement momentum

Источник: nulltx.com

snx market → Результатов: 41


Moonshot Coins: Can These Five Projects Skyrocket When They Hit Exchanges?

As traders start to take profit after the recent Bitcoin price hikes, experts are starting to suggest that some of these funds will finally trickle into the altcoin market.  It’s already starting, with coins like Ripple ($XRP) and Stellar ($XLM) surging 70% this week, Synthetix Network ($SNX) up by 45% over the fortnight, and Chainlink […] The post Moonshot Coins: Can These Five Projects Skyrocket When They Hit Exchanges? appeared first on CaptainAltcoin.

2023-7-22 13:00


DeFi tokens SUSHI, SNX, UNI emerge as winners after China’s crypto crackdown

A little over a week ago, China renewed its hostilities towards the crypto industry as it declared all crypto transactions within its jurisdiction “illegal.” This new regulation, while it has had some negative impacts on the price of the leading digital asset, Bitcoin, alongside other cryptocurrencies in the market, the winners in the current shakedown […] The post DeFi tokens SUSHI, SNX, UNI emerge as winners after China’s crypto crackdown appeared first on CryptoSlate.

2021-10-2 11:00


Фото:

Should you invest in Filecoin, THETA, and Synthetix this week [27 July]? Here are my predictions.

Filecoin FIL/USD is by far one of the oldest projects here but it’s staying strong on the top lists in terms of market capitalization. THETA THETA/USD has the potential to power the future of video streaming, and Synthetix SNX/USD is going out of control in terms of the trading volume of its coin and its […] The post Should you invest in Filecoin, THETA, and Synthetix this week [27 July]? Here are my predictions. appeared first on Invezz.

2021-7-28 14:40


SNX Price to Uptrend Past $2,000 & Reach 3x Ethereum’s Current Market Cap: Report Predicts

DeFi bluechip Synthetix (SNX) is one of the biggest gainers of 2020, with more than 863% YTD. With a $707 million market cap, SNX is the 40th largest cryptocurrency trading at $6.32. However, according to the latest report, the DeFi token has a potential to go 364x from here that would take the digital asset’s […] The post SNX Price to Uptrend Past ,000 & Reach 3x Ethereum’s Current Market Cap: Report Predicts first appeared on BitcoinExchangeGuide.

2020-12-20 17:17


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Memecoin $PEPE Surges As Whales Accumulate Profits

The Ethereum memecoin $PEPE has seen a remarkable surge, hitting an all-time high of $0.00001127 today with a market cap surpassing $4.5 billion.  This represents a significant gain of over 11% for the day and 32% over the past 7 days, making it the second largest crypto memecoin in the […]

Whales Continue To Accumulate $FRIEND Despite Price Decline

Despite experiencing a 7% decline in value today, the cryptocurrency token $FRIEND is witnessing increased accumulation by whales, signaling growing investor interest in the project. This trend is evident as on-chain data reveals notable inflows into the $FRIEND ecosystem.