Oh, SNX

The story of how I ended up buying spot SNX. And how I may add.

Ki Young Ju twitter

What raised my attention was this tweet by Ki Young Ju:

Ki Young Ju twitter

He’s basically saying that whales accumulate out of exhanges before making the coin pump. And regarding this statement, the coin with the most potential is SNX:

SNX on CryptoQuant

The bad news is: the outflows underlined by Ki Young Ju were compensated by huge inflows. And when we look at the netflows (see above), there is actually an increasing inflow towards exchanges !

Realization

Oops. I made a mistake. I bought SNX on my phone not checking twitter info. Huge mistakes.

After realizing that (while writing this story), I market sold with less than 0,5% loss. Oof.

Bounce back

So netflows told us a good info… Is there an altcoin with a decreasing netflows ? Like the start of a trend ? Let’s take a look:

All exchanges netflow on CryptoQuant

No big alpha here. And when we take a look at the all adresses outflows count, the numbers are between 100 & 200 for YFI for examples. The exchanges here are not really indicating retail involvement.

Next time: I have to respect my rules.

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