SNX: a quick overview

Syntethix ($SNX) is up 35% for the day and almost 2x from the weekend's lows (at the time of writing). Let's see how the things are under the hood.

1) Active addresses

SNX Active Addresses 1h

For now looks like the price rally is supported by strong increase in network activity.

2) Trading volume

SNX trading volume

A big spike, the most pronounced as the price went vertical - might be a sign of FOMO.

3) Social volume

SNX social volume

Quite a spike, people are taking notice.

4) Top transactions

SNX transaction volume

Some movements are starting to show up on chain, most interesting is the wallet 0xf05e2a70346560d3228c7002194bb7c5dc8fe100, which is labeled by some as Jump trading Binance deposit. It has accumulated almost 3M of SNX token, all of that already after the price pumped:

In conclusion, right now the rally seems to be supported by underlying factors, so watch out for divergencies and stay safe out there!

You can look up the big wallet here

Chart layout used for this analysis is available here

Thanks for reading!

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