SNX's short-term trend remains dominated by bulls. The current key support is in the $0.335–0.347 range; if it holds effectively, a pullback offers an opportunity for strategic positioning. A breakout above $0.369–0.375 could extend the rally. On the functional side, TWAP order optimization improves trading depth and liquidity, boosting institutional capital flow efficiency and laying a foundation for long-term value accumulation. Investors need to be cautious of short-term volatility caused by information asymmetry and rumors of new platform listings. However, if the macro environment is stable and Bitcoin stays steady in the $75,000–$78,000 range, SNX is positioned to regain active performance. Conservative investors are advised to watch for phased entry opportunities within the support zone, dynamically track BTC-led asset movements and regulatory developments, and be alert to sudden shocks.

After forming a bottom around $0.28 in mid-April, SNX embarked on a steady upward movement. In early May, driven by a series of high trading volumes, it twice tested resistance near $0.347 and $0.369. Recently, prices oscillated within the $0.356–$0.366 range, indicating bulls remain in control, but short-term action requires support in the $0.335–$0.347 zone for a healthy pullback. If bulls hold this area, a pullback could attract buying interest, while a breakout above $0.369–$0.375 may continue the trend. Technical indicators show synchronized increases in volume and price, signaling ongoing momentum. After the pullback, focus will remain on moving average support and resistance shifts.

Synthetix's TWAP (Time Weighted Average Price) command allows large orders to be executed in batches, significantly reducing the impact of single trades on price. This feature is now deployed on the Perps mainnet, enhancing entry and exit efficiency for institutions or asset management products with substantial capital, and minimizing slippage costs. As trading depth improves and market participation barriers lower, this will enhance SNX's activity and market depth over the long run, supporting value accumulation.

Synthetix has introduced TWAP (Time-Weighted Average Price) orders to help traders scale into and out of larger positions more effectively. This tool is particularly useful in markets with fluctuating liquidity, as it prevents large single executions from significantly impacting the fill price by spreading the order over time.

Introducing TWAP Orders on Synthetix Perps

Decentralized derivatives protocol Synthetix has launched TWAP (Time-Weighted Average Price) order functionality on its mainnet, now available on Synthetix Perps. TWAP orders divide large trades into smaller slices and execute them automatically in batches over a user-defined time window from 5 minutes to 24 hours.

Synthetix mainnet launches TWAP order functionality, supporting batch execution of large positions

Recent unusual trading and possible insider suspicions ahead of crypto asset listings on the Robinhood platform highlight the issue of information asymmetry during new token launches. For SNX, such microstructure events may cause short-term fluctuations and raise risk premiums, with some investors adopting a wait-and-see approach due to fairness concerns, leading to increased price volatility during periods of news dissemination. However, this risk is mostly limited to the event window; if regulatory and market self-discipline mechanisms improve, trading is likely to return to normal rhythm.

Kaiko's analysis reveals pre-listing trading activity ahead of Robinhood's crypto token announcements, including a wallet opening positions before public disclosures. Patterns across tokens like LIT, ZEC, SNX, and NEAR show price and volume shifts preceding listings, suggesting either privileged access or sophisticated front-running based on public signals. The findings highlight evolving market microstructure and the challenge of distinguishing insider information from informed trading around listings.

Kaiko flags frontrunning risk ahead of Robinhood token listings

Robinhood's planned cryptocurrency listings were involved in a front-running controversy, with rising funding rates and open interest detected before announcements. Several Hyperliquid wallets held directional exposure prior to public news, suggesting possible insider trading. Tokens like Zcash, Synthetix, and Near Protocol showed unusual price volatility, especially Zcash. Hyperliquid's fully transparent on-chain order book made the suspicious trading activity visible, raising fairness concerns but also enabling market audits.

Robinhood listings spark major Hyperliquid insider trading controversy: Details

On the global macro front, unexpectedly strong US jobs data and geopolitical tensions boosting oil prices have kept expectations for central bank easing cautious. Bitcoin retreated after breaking above $80,000, subsequently dampening sentiment across risk assets. As a high-beta asset, SNX is under pressure as well. But as long as Bitcoin holds support around $75,000–$78,000, risk appetite could revive, reigniting upward momentum for quality altcoins like SNX. Investors should closely monitor ETF fund flows and macro data impacts on Bitcoin to gauge SNX's correlated movement.

Bitcoin fell below $80,000 after five consecutive days of net inflows into spot ETFs ended, signaling a cooling rebound from February lows. Stronger-than-expected US April jobs data heightened concerns over energy-driven inflation limiting rate cuts. Spot Bitcoin and Ethereum ETFs saw significant outflows, reflecting reduced institutional risk appetite. Rising US-Iran tensions pushed oil prices up, offsetting some risk asset support. Derivatives suggest prolonged hawkish rate expectations, with retail participation low and market momentum weak, posing a risk of Bitcoin retesting $75,000–$78,000 support.

Analysis: Bitcoin surged then fell back below $80K, with ETF outflows and geopolitical risks jointly suppressing market sentiment.

Global markets surged as geopolitical tensions eased, with major indices hitting record highs and the Korean KOSPI soaring 6.45%. In tech, semiconductor and AI-related stocks rallied strongly. Bitcoin broke $80,000, driven by institutional ETF inflows, though on-chain activity showed low retail participation. Opinions diverge on Bitcoin's outlook, with some seeing a fragile rally and others bullish due to strong accumulation and ETF demand. TON ecosystem also gained momentum after Telegram's increased involvement.

Trading Moment: Global Asset Frenzy, Bitcoin Breaks $80,000, $84,000 CME Gap Awaiting Refill.

Synthetix

British Pound: Growth slowdown and BoE tightening – BNP Paribas

Norwegian Krone: Norges Bank's surprise hike and risk support – HSBC

Eurozone: Higher inflation and ECB hikes projected – BNP Paribas

Brazilian economists raised their interest rate forecast for next year as inflation comes under pressure from resilient domestic demand and an energy shock caused by the Iran war.

Japanese Yen: Intervention and BoJ policy in focus – HSBC

Fed: Extended pause before late 2026 cut – UOB

2024–2026: Asset repricing amid persistently high interest rates

Mitsubishi UFJ: Stalemate in US-Iran negotiations intensifies inflation concerns, causing gold prices to drop.

Koehler: Unless the situation significantly improves, interest rate hikes are inevitable.

The European Central Bank will raise interest rates twice this year as the Iran war drives inflation higher, a Bloomberg survey shows.

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