Core

World

Andromeda

Synthetix

<ul> 
 <li>Whale deposits 1.068 million SNX into Binance, losing $216k in a recent transaction.</li> 
 <li>Synthetix launches Andromeda, implementing Core V3 and Perps V3 for the cross-chain future.</li> 
</ul> 
A whale made a big transaction with Synthetix (SNX) tokens. According to Lookonchain, this whale transferred 1.068 million SNX tokens ($2.1 million) into Binance a few hours ago, suffering a $216, 000 loss. 
<h2 id="strong-past-withdrawals-and-current-price-movements-of-snx-strong">Past Withdrawals and Current Price Movements of SNX</h2> 
This transaction is also interesting because the whale earlier withdrew the same amount of SNX, valued at $2.316 million, from Binance on January 30, July 12, and August 24, 2023, when the token price was $2.17. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 A whale deposited 1.068M <a href="https://twitter.com/search?q=%24SNX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SNX</a>($2.1M) into <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> 4 hours ago and lost $216K! 
 This whale withdrew 1.068M <a href="https://twitter.com/search?q=%24SNX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SNX</a>($2.316M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> at $2.17 on Jan 30, Jul 12, and Aug 24, 2023. 
 In May 2024, he had an unrealized profit of $3.12M, but he did not sell it then.… <a href="https://t.co/U4frtgn2Hb">pic.twitter.com/U4frtgn2Hb</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1814860851624747022?ref_src=twsrc%5Etfw">July 21, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In May 2024, this whale had an unrealized profit of $3.12 million, but he did not sell the tokens. As of now, <a style="color: #008000;" href="https://www.crypto-news-flash.com/synthetix-snx-performance-after-new-proposal-implementation/">SNX</a> is trading around $1.86, down 1.48% over the last 24 hours and 2.46% in the week. This tight price range shows the token’s relatively restricted price volatility. 
Previously, as we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/synthetix-rises-whats-driving-the-snx-bullish-run/">reported</a>, Synthetix tokens rose more than 13% in mid-July, making them one of the biggest gainers. This price increase exemplifies the cryptocurrency market’s significant volatility, particularly as competition for investor interest grows. Despite recent market declines, some analysts continue to see SNX positively. 
World of Charts, a crypto expert, had a bullish view on Synthetix, saying that the current price has broken through the trendline within a declining channel pattern. 
The recent price correction appears to be a rebound from the closest higher low level. The price’s ability to rebound from the last correction will determine if it can breakout the descending channel pattern. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-medium" src="https://pbs.twimg.com/media/GSel5uBWwAACWs1?format=jpg&amp;name=900x900" width="900" height="510">
 <figcaption class="wp-caption-text">
 Source: World Of Charts <a href="https://x.com/WorldOfCharts1/status/1812599795099505012">on</a> X
 </figcaption>
</figure> 
Meanwhile, Synthetix <a style="color: #008000;" href="https://www.crypto-news-flash.com/synthetix-unleashes-andromeda-a-game-changing-update-awaits/">released Andromeda</a> in early December of last year, which marked a big milestone in the implementation of Core V3 and Perps V3. 
This development enhances the Synthetix protocol in preparation for a cross-chain future. Global crypto market sentiment will continue to steer investors’ cash inflows into the crypto market.

Whale Loses $216K After Depositing 1.068M Synthetix Tokens into Exchange

Table of Contents

Crypto News Flash

Other articles published on Jul 22, 2024

MoonBag Skyrockets Past $3.7 Million Presale as VeChain and GALA Struggle: Is This the Best in 2024?

Galaxy Acquires Majority of CryptoManufaktur’s Assets, Expands Ethereum Staking Portfolio

BREAKING: Spot Ethereum ETFs Get SEC Nod, Debut Set For Tomorrow

Top Crypto Trader Shares His 5 Meme Coin Portfolio Picks, Terms One 'The DOGE Of This Cycle'

New Bitcoin (BTC) ATH Could Follow the Bitcoin 2024 Conference, What Announcement Will Trigger $7...

Ethereum ETF Buzz Drives July Crypto Investments to $3.2 Billion

Join our free newsletter for daily crypto updates!