Crypto News: Wintermute, a major market maker, has recently added an Ethereum-based altcoin to Binance, sparking increased expectations for the fall season. The Data Nerd, an on-chain analyst, revealed that Wintermute deposited 12.3 million ARB tokens worth $12 million to Binance.
Altcoin whales have been active in the market, with both buyers and sellers making moves. Wintermute, a prominent player, made a significant deposit of $12 million worth of Arbitrum (ARB) to Binance. The Data Nerd reported that three wallets linked to Wintermute were responsible for this transaction, which involved transferring tokens withdrawn from Coinbase just two days prior.
Speculation is rife among investors and analysts that Wintermute’s move is a deliberate strategy to influence the liquidity and market presence of ARB on Binance. This action has also led to heightened expectations of a potential downward movement in the price of Arbitrum.
Despite a drop to $0.90 following Bitcoin’s decline on Friday, ARB is currently trading at $0.967. The market is closely watching the developments surrounding Wintermute’s deposit and its potential impact on the altcoin’s price.
Disclaimer: This article does not constitute investment advice. For access to a wide range of cryptocurrencies, including ARB, consider registering with Binance exchange with a 20% commission discount. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.
