- SNX was down by 8% in the last 24 hours, and indicators were bearish.
- Whales bought LINK while its price rallied by over 15% over the past week.
The crypto market has been acting strange of late as some cryptos managed to paint their charts green while the rest were bleeding red. Among the gainers, Chainlink [LINK] was one of the assets that surged over the last few days. While LINK investors rejoiced, Synthetix [SNX] whales were losing confidence in the token.
Read Chainlink’s [LINK] Price Prediction 2023-24
Selling pressure on Synthetix is high
Lookonchain’s recent tweet highlighted that a whale was dumping its SNX holdings. As per the tweet, a whale sold over 2 million SNX, worth around $4 million, on Binance at a loss of nearly $785K.
The whale had spent 4.9 million USDT to buy the SNX tokens at a price of $2.44 on 18 May, 2023.
A whale dumped 2,015,264 $SNX ($4M) on #Binance at a loss of ~$785K an hour ago.
The whale spent 4.9M $USDT to buy 2,015,264 $SNX at a price of $2.44 on May 18.
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Author: Dipayan MitraDid you like this?
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