Synthetix (SNX) faces ongoing challenges in Korea as Readbit and Bithumb expanded their “warning assets” designation until June 24, 2025.
Mandated by the Digital Asset Exchange Alliance (DAXA), this classification maintains SNX under intense scrutiny due to concerns about potential regulatory or operational issues. As a result, SNX deposits on these platforms remain suspended and traders are advised to be extremely cautious.
expansion
The SNX/BTC transaction specification period has been extended by DAXA to 15:00 (KST) 2025-06-24 (TUE).
Synthetix (SNX/BTC) investment warning period has been extended by Daxa until 15:00 pm (KST) on 2025-06-24.
🔗Discovered…
– Upbit Korea (@official_upbit) May 28, 2025
SNX price at Critical Points: $0.774, indecisive RSI, Bollinger Band squeezes
The long-term warning period lies at SNX’s critical technology junction. The tokens currently trading at $0.774 have fallen 2% over the past 24 hours, showing signs of indecisiveness.
The descending wedge pattern that began to form earlier this year appears to have resolved to benefits in early May, but the breakout lacks momentum.
Related: VC companies move $10.9 million in profits on SNX tokens to cash out net, Coinbase
In the daily chart below, Bollinger Bands (BBs) are beginning to squeeze, suggesting lower volatility and potential breakouts in the future. On the other hand, the relative strength index (RSI) is 48.95 and just below neutral, with no clear trend confirmation. The price remains trapped between ~$0.82 and ~$0.72 support between the midline resistance of the BB.
Source: TradingView
If SNX convincingly outperforms the $0.82-$0.85 zone, the Bulls could aim for a short-term $1.00 and $1.20 if broader emotions improve. However, if you can’t keep the $0.72 support, your SNX could return to $0.65.
Market Unease Grows: OKX will list 11 trading pairs on June 4th.
SNX’s struggles are broader market angst following the announcement of OKX to abolish 11 trading pairs, including highly volatile tokens such as PRQ (-53%), SAMO (-36%) and Arty (-18%).
Related: OKX expands to payments with OKX Paywallet launch following re-entry in the US market
Registered pairs include Zero/USDT, Zero/USD, PRQ/USDT, PRQ/USD, IQ/USDT, IQ/USDT, Arty/USDT, Arty/USD, SAMO/USDT, SAMO/USD and USDT/USDC. The event will take place on June 4th between 8:00am and 10:00am UTC.
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