Synthetix

when

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<ul class="wp-block-list news-points">
 <li><strong>Framework Ventures deposits 6.5M SNX tokens, valued at $19.6M, into Coinbase Prime.</strong></li>
 <li><strong>The firm capitalizes on a 152% profit after purchasing tokens at a lower price four months ago.</strong></li>
 <li><strong>SNX has surged 136% in the last 30 days, driving Framework Ventures to lock in gains.</strong></li>
</ul>
<p>Framework Ventures, a prominent thesis-driven crypto venture firm, <a href="https://x.com/spotonchain/status/1864576261550752037" target="_blank" rel="noopener noreferrer nofollow">has made</a> a significant move in the Synthetix (SNX) market. Known as the largest holder and investor in Synthetix, the firm deposited 6.5 million SNX tokens (valued at $19.6 million) into Coinbase Prime. This transaction signals a potential profit-taking decision.</p>
<h2 class="wp-block-heading" id="h-framework-ventures-locks-in-152-profit">Framework Ventures Locks in 152% Profit</h2>
<p>For context, the new deposit to <a href="https://coinedition.com/coinbase-ends-ties-with-firms-hiring-biden-administration-alumni/" rel="noopener noreferrer nofollow">Coinbase</a> follows a key decision made four months ago when Framework Ventures withdrew 6 million SNX tokens from the exchange. At the time, the withdrawn tokens were worth $7.2 million.</p>
<p>This suggests that Framework Ventures likely purchased the tokens during a market dip and is now capitalizing on a 152% profit, as the value of those same 6 million tokens has appreciated by $10.9 million.</p>
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcO1Y45D6BgCFYT_PPCxQRsFfOUHXlZlfw-v5Ajj8E7ZPtfyMQ-TmbT628RrJlD7_IJCPwrcliB5R7WkHpauZDu8mkhXRuaH70COTEs0krFFJyNk-cpKGSJ64V23bEiIctwCSZf8Q?key=KFc067b0y6B7-WVUIyP7bJi0" alt="">
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<p>Notably, the market value of SNX has surged by 136% in the past 30 days, with the token now trading at $3…</p>
<p>The post <a href="https://coinedition.com/vc-firm-nets-10-9m-profit-on-snx-token-moves-to-cash-out-on-coinbase/" rel="noopener noreferrer nofollow">VC Firm Nets $10.9M Profit on SNX Token, Moves to Cash Out on Coinbase</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

VC Firm Nets $10.9M Profit on SNX Token, Moves to Cash Out on Coinbase

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