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:On March 15th, an interesting Twitter post by ember monitoring caught the attention of many cryptocurrency enthusiasts, revealing that a massive whale institution had purchased 3.4 million SNXs from the Synthetix treasury. The purchase was worth approximately $10 million and was conducted using 10 million USDCs via AirSwap’s OTC platform. What is noteworthy about this transaction is the size of the whale’s purchase and the way in which the funds were sourced. The use of Binance and Kucoin as the source of USDC highlights…