A whale recently sold its SNX holdings and replaced them with LINK, indicating a lack of faith in Synthetix and an expected price drop. SNX’s price has already plummeted by nearly 8% in the last 24 hours, accompanied by a significant increase in trading volume. The token’s Relative Strength Index (RSI) is below 50, suggesting a continued price drop. However, the Money Flow Index (MFI) showed a slight uptick, providing some hope. On the other hand, Chainlink (LINK) has been gaining attention from whales, with its on-chain metrics looking bullish. LINK’s MVRV ratio has risen sharply, indicating potential further gains.
AI Sentiment: Neutral