Wintermute, a prominent algorithmic crypto trading firm, has started aggressively accumulating Neiro On Ethereum (NEIRO), one of the hottest meme coins.
NEIRO Accumulation
Earlier this month, Wintermute started accumulating NEIRO. Now, the firm holds nearly 62.5 million tokens, representing more than 6% of the total NEIRO supply.
Market Dynamics of NEIRO
Earlier this week, NEIRO experienced a significant triple-digit price surge after being listed on the Binance exchange, with its market cap surging above the $200 million threshold. According to data provided by CoinMarketCap, the token is currently down 28.32% over the past week, currently trading at $0.11, with its market cap sitting at $110 million.
Wintermute Achievements
Since the demise of the FTX exchange, Wintermute has emerged as the top market maker. Last year, it recorded a 400% jump in OTC volumes, coinciding with a rapid decline in trading volumes on crypto exchanges. Earlier this year, Wintermute announced that it would provide liquidity for Bitcoin and Ethereum exchange-traded funds (ETFs) launched by Hong Kong-based issuers. In July, The Information reported that Wintermute was Robinhood's leading crypto maker in Q1.
Wintermute continues to strengthen its position in the cryptocurrency market, actively accumulating popular tokens and providing liquidity for various platforms.
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