On-chain data shows that around 14:01 this afternoon, a sizable SNX transfer drew attention. 8.36 million SNX were transferred from an anonymous address (starting with 0x0848) to the Null Address, which is approximately worth $3.88 million at current prices. Such large transfers often trigger market speculation and may involve token burns, liquidity adjustments, or other on-chain operations. As the core token of the synthetic asset protocol, SNX's on-chain movements have always been closely watched by traders.