Altcoin

The market giants have sprung into action!

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While the Bitcoin and the altcoin market continues its activity, transfers made by big 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 called Flow Traders, GSR Markets and Wintermute have influenced the market in different ways.

Flow Traders Transferred Altcoin ETH to Wallets

According to the news, BTC and altcoin trading firm Flow Traders made an interesting move today after receiving 117.6 million ATH (roughly $7.64 million) from Aethir 3 weeks ago. Flow Traders transferred part of this fund, 29.6 million ATH (roughly $2.04 million) to the 0x0E7 wallet. Then, earlier today, another 15 million ATH (roughly $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 11.6 million ATH (roughly $813,600). While the reason behind these transfers by Flow Traders is not yet fully known, it is believed that the company has repositioned 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 significant transfer today. According to data spotted by ai_9684xtpa, GSR Markets removed 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 market-making ZRO tokens among the other 5 market makers on June 20, 11 million to be exact. It is claimed that after today’s transfer, GSR Markets still holds 9.53 million ThereRThe tokens and their total value is $36.21 million. This transfer by GSR Markets can be interpreted as a step towards reducing the company’s ZRO assets.

Wintermute has made transactions with Ethereum

Finally, another major player mentioned in the news is cryptocurrency trading firm Wintermute. According to data tracked by The Data Nerd, Wintermute sold 12,695 ETH (about $43.84 million) on Binance exchange 1 hour ago today. It is claimed that the ETH sold was transferred from several exchanges such as Coinbase, Kraken, and Crypto.com. It is thought that this ETH sale by Wintermute could increase the overall liquidity in 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 estimated that the company either made a profit or directed its ETH assets to different investments.

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

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