The price of the altcoin of Aragon (ANT), a decentralized platform that allows anyone to create and manage Decentralized Autonomous Organizations (DAO), has increased by more than 30% in the last 3 days.
The price of the altcoin is trading at $4.09 with a market cap of $176 million at the time of this writing.
One possible reason for the price surge could be the recent activities of Wintermute Trading, a market maker and liquidity provider for cryptocurrencies. According to Etherscan data, Wintermute Trading has pulled 767k ANT ($2.96 million) from OKX and Binance in the last 12 hours, making it the 10th largest owner of ANT.
Wintermute Trading has not disclosed its intentions or strategy regarding ANT.
Aragon has recently launched the new modular Aragon OSx protocol and the no-code Aragon App on Ethereum and Polygon, allowing users to experiment with management at software speed.
Aragon also faces some challenges from its rivals and opponents. Recently, Arca Capital Management, an asset management firm with a large stake in ANT, launched a hostile takeover attempt against Aragon, accusing the project of mismanagement and lack of transparency. Aragon responded by taking defensive measures and urging its community to vote against Arca's proposals.
*Not investment advice.