SNX volatility optimism updates Chaikin Money Flow and high APYYes, I wish I had bought more on the recent sub-$4 dip. I am still holding long term but volatility is still the price we pay for being early in an enormous opportunity. I remain optimistic. Why?
1. I still see the desire to put money into Synthetix every time the market calms down as witnessed by the recent uptrend in the CMF (Chaikin Money Flow) green line. That will return when volatility subsides.
2. SNX is still smoking through the upgrades. This month isn’t even to the half-way mark and the Synthetix Blog (blog dot synthetix dot io) indicates SNX is on its fourth update for the month of February. Here are the latest take-aways.
8 February 2022, “Synthetix has partnered with dHEDGE to deploy a one-click debt mirror index for SNX stakers on mainnet Ethereum. With this tool, each staker can hedge their exposure to the debt pool…While this solution has been initially launched to layer one, we're working hard alongside the dHEDGE team and protocols on OE to make this a reality for OE stakers as well.” (OE = Optimistic Ethereum)
9 February 2022, “SIP 185…The Alphard release…This change enables many highly anticipated features, such as debt pool synthesis, putting an end to snapshotting staking rewards, and overall simplification of the debt tracking system.”
So, as we get closer to mainnet launch, I continue to earn almost 7.5 tokens every Monday without the risk or worry of staking at 14.05% on the Celsius Network (regulated and licensed by SEC & US Treasury). I have a Celsius referral code that will earn you and I both $50 in BTC if you want it (just ask me).
