Crypto NewsAltcoinGiant Market Maker Wintermute Added This Ethereum-Based Altcoin to Binance! Fall Expectations...

Giant Market Maker Wintermute Added This Ethereum-Based Altcoin to Binance! Fall Expectations Increased!

According to a post by on-chain analyst The Data Nerd, three wallets belonging to Wintermute deposited 12.3 million ARB worth $12 million to Binance.

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While altcoin whales have been active in recent days, there are both sellers and buyers. Wintermute, one of the giant market makers, also deposited $12 million worth of Arbitrum (ARB) to Binance hours ago.

According to a post by on-chain analyst The Data Nerd, three wallets belonging to Wintermute deposited 12.3 million ARB worth $12 million to Binance.

Notably, Wintermute had withdrawn all these ARB tokens from Coinbase two days ago.

“3 hours ago, 3 wallets belonging to Wintermue deposited 12.3 million ARB (worth approximately $12 million) to Binance.

All of the above tokens were withdrawn from Coinbase 2 days ago.”

Investors and analysts speculate that this transfer is likely a deliberate strategy by Wintermute to impact ARB's liquidity and market presence on Binance. This move by Wintermute also increased investors' expectations that there may be a downward movement in the Arbitrum price.

ARB, which dropped to $0.90 with the decline in Bitcoin on Friday, continues to be traded at $0.967 at the time of writing.

*This is not investment advice.



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