🚨 Upbit Suspends SNX Deposits After DAXA Warning 🚨
South Korea’s leading exchange Upbit has temporarily suspended SNX (Synthetix) deposits following a warning issued by the Digital Asset eXchange Alliance (DAXA) on April 24.
This move often signals increased regulatory or risk scrutiny, which can lead to:
🟠 Short-term price volatility
🛡️ A shift in investor sentiment
⚖️ Potential delistings or tighter trading limits
SNX powers synthetic assets on-chain. Regulatory concerns around synthetic assets or liquidity issues could have broader DeFi implications.
And If you hold SNX, it’s wise to:
Monitor liquidity across other exchanges.✅️
Be cautious of price swings and news-based volatility.
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Watch for official updates from both Upbit and Synthetix protocol.👀📊
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