Upbit announced the listing of the SNX/BTC trading pair, and the short-term impact of this move on market confidence cannot be ignored. Liquidity contraction often acts as a catalyst that amplifies sentiment—once major exchanges pull their orders, retail investors’ stop-loss sell orders can trigger a chain reaction, and downward price pressure is only the beginning.
At present, the $SNX quote is approximately $0.228, with a 24-hour trading volume of less than $7 million. The circulating supply is already relatively thin, and the liquidity vacuum after coin removal may further magnify volatility. For short-term strategy, it is not advisable to blindly bottom-fish. Instead, closely monitor changes in spot turnover rates on the on-chain DeFi network and shifts in futures funding rates to confirm whether the selling pressure has truly been fully released.
#SNX #DeFi
⚠️ This does not constitute investment advice; please be aware of the risks.
At present, the $SNX quote is approximately $0.228, with a 24-hour trading volume of less than $7 million. The circulating supply is already relatively thin, and the liquidity vacuum after coin removal may further magnify volatility. For short-term strategy, it is not advisable to blindly bottom-fish. Instead, closely monitor changes in spot turnover rates on the on-chain DeFi network and shifts in futures funding rates to confirm whether the selling pressure has truly been fully released.
#SNX #DeFi
⚠️ This does not constitute investment advice; please be aware of the risks.