🐳 Positioning perspective:
“Synthetix: Recovered the SNX stolen from Binance and will return it at Binance’s request”
After this news came out, I only had three questions related to money:
1. Which way is the balance of aggressive buying and selling tipping?
2. Is trading volume for $SNX (USD 650,000 over 24h) continuing to grow?
3. Are whales making large transfers off trading platforms?
Only if all three point in the same direction does this news really carry weight; otherwise, it’s mostly just emotional volatility.
When news breaks, assess your own risk first, then think about direction.
“Synthetix: Recovered the SNX stolen from Binance and will return it at Binance’s request”
After this news came out, I only had three questions related to money:
1. Which way is the balance of aggressive buying and selling tipping?
2. Is trading volume for $SNX (USD 650,000 over 24h) continuing to grow?
3. Are whales making large transfers off trading platforms?
Only if all three point in the same direction does this news really carry weight; otherwise, it’s mostly just emotional volatility.
When news breaks, assess your own risk first, then think about direction.