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Giant Whale Institution Buys $10 Million Worth of SNX from Synthetix Treasury

• NFT Newsflash • 140 views

On March 15th, according to Twitter user ember monitoring, a giant whale (institution) address purchased 3.4 million SNXs (approximately $10 million) from the S

Giant Whale Institution Buys $10 Million Worth of SNX from Synthetix Treasury

On March 15th, according to Twitter user ember monitoring, a giant whale (institution) address purchased 3.4 million SNXs (approximately $10 million) from the Synthetix treasury using 10 million USDCs via AirSwap’s OTC yesterday and this afternoon, with an average purchase price of $2.93. The USDC used by the whale (institution) to purchase SNX originated from Binance and Kucoin.

Data: An address purchased 3.4 million SNXs from the Synthetix treasury within two days

Analysis based on this information:


According to a recent tweet by ember monitoring, a whale institution made a large purchase of Synthetix Network Token (SNX) for approximately $10 million on March 15th. The institution reportedly bought 3.4 million SNX tokens from the Synthetix treasury using 10 million USDC through AirSwap’s OTC platform. The purchase was made yesterday and this afternoon, with an average purchase price of $2.93.

The whale institution that made the purchase is unknown, but it is noteworthy that this entity was willing to buy such a large number of tokens at once. This move is significant for Synthetix because it shows that a major player is taking the network seriously and is willing to invest a significant amount of money into it. This could have a positive impact on SNX token prices and put Synthetix on the radar of more investors and traders.

The USDC used to purchase the SNX originated from Binance and Kucoin, two popular cryptocurrency exchanges. This indicates that the whale institution likely purchased USDC on these exchanges before using it to buy SNX on AirSwap’s OTC platform. This also highlights the importance of stablecoins like USDC in the cryptocurrency ecosystem, as they provide liquidity and facilitate large transactions like this one.

AirSwap’s OTC platform was used for this transaction, which is interesting because it shows that the whale institution did not use a centralized exchange to make the purchase. Instead, they opted for a decentralized platform that allows for more privacy and security. The fact that the whale institution chose AirSwap for this transaction could be seen as a vote of confidence in the platform and its capabilities.

Overall, this message indicates that a whale institution invested a significant amount of money into Synthetix by purchasing $10 million worth of SNX tokens from the Synthetix treasury. The purchase was made using USDC from Binance and Kucoin through AirSwap’s OTC platform. This move could have a positive impact on SNX token prices and put Synthetix on the radar of more investors and traders.

Title: Giant Whale Institution Buys $10 Million Worth of SNX from Synthetix Treasury

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