Mysterious Institutional Investor Scoops Up Ethereum-Based Altcoin That Rallied 126% This Year: On-Chain Data
crypto Ethereum Ang Misteryosong Institusyong Mamumuhunan ay Sinakop ang Ethereum-Based Altcoin Na Nag-rally ng 126% Ngayong Taon: On-Chain Data 4 minuto ang nakalipas Balita ng Ethereum ng Bitcoin A mysterious investor is scooping up an Ethereum-based (ETH) altcoin that has more than doubled up in price so far this year. Ayon sa bago data from blockchain-tracking service Lookonchain, an unnamed institution spent $10 million worth of USD Coin (USDC) to purchase 3.4 million Synthetix (SNX), a decentralized asset issuance project, during the last two days. The data also reveals that the same institutional investor holds 44.5 million Conflux (CFX), worth $15 million, and 7.3 million Yield Guild Games (YGG), worth about $2.07 million. Synthetix is a derivatives protocol that allows users to hold and trade crypto, stocks and precious metals without actually owning the specific asset directly. Says crypto exchange Gemini, SNX has seen a significant price increase in 2023. The digital asset opened up the year trading for $1.42 but ultimately sparked a rally up $3.22, a 126% run. SNX has since retraced and is trading for $2.82 at time of writing, a 10% decrease during the last 24 hours.