Altcoins

Market giants have taken action!

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While the Bitcoin and the altcoin market continues its activity, transfers made by major players attract attention. According to the movements detected by cryptocurrency analysis platforms The Data Nerd and ai_9684xtpa, as of today (July 2), major players named Flow Traders, GSR Markets and Wintermute have influenced the market in different ways.

Flow traders transferred ETH altcoin to wallets

According to the news, Bitcoin and altcoin trading company Flow Traders made an interesting move today after receiving ATH 117.6 million (approximately $7.64 million) from Aethir 3 weeks ago. Flow Traders transferred a portion of this fund, ATH 29.6 million (approximately $2.04 million) to the 0x0E7 wallet. Then, again today, another ATH 15 million (approximately $1.06 million) was added to the 0x0E7 wallet in another transfer that took place 15 hours ago. After these transfers, the 0x0E7 wallet still has ATH 11.6 million (approximately $813,600). While the reason for these transfers by Flow Traders is not yet fully known, it is believed that the company has been repositioning its ATH assets.

GSR Markets Delists ZRO Token from OKX

On the other hand, GSR Markets, which acts as a market maker, also made a notable transfer today. According to data spotted by ai_9684xtpa, GSR Markets withdrew 880,000 ZRO (approximately $3.35 million) from the OKX exchange 4 hours ago. The timing and amount of this transfer have caused speculation in the market. GSR Markets had previously purchased the most ZRO market maker tokens among the other 5 market makers on June 20, 11 million to be exact. It is reported that after today’s transfer, GSR Markets still holds 9.53 million ZRO The tokens and their total value amount to $36.21 million. This transfer from GSR Markets can be interpreted as a step towards reducing the company’s ZRO assets.

Wintermute made transactions with Ethereum

Finally, another major player mentioned in the news is the cryptocurrency trading company named Wintermute. According to data tracked by The Data Nerd, Wintermute sold 12,695 ETH (approximately $43.84 million) on the Binance 1 hour ago today. It is reported that the ETH sold was transferred from different exchanges such as Coinbase, Kraken, and Crypto.com. It is believed that this sale of ETH by Wintermute could increase the overall liquidity of the market. Interestingly, Wintermute sold a similar amount of 12,608 ETH (approximately $44.27 million) yesterday. While the reason for Wintermute’s two-day consecutive sale is not yet known, it is believed that the company either made a profit or directed its ETH assets to different investments.

Meanwhile, Abraxas Capital also made a splash by transferring 10,000 ETH to Binance. In short, the transfers of major players such as Flow Traders, GSR Markets, and Wintermute in the cryptocurrency Market movements have created activity in the market today. Although the reasons behind these transfers are not yet clear, investors are trying to get clues about market trends by following these movements closely.

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