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
For now looks like the price rally is supported by strong increase in network activity.
2) Trading volume
A big spike, the most pronounced as the price went vertical - might be a sign of FOMO.
3) Social volume
Quite a spike, people are taking notice.
4) Top transactions
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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