The popular memecoin based on Ethereum, $NEIRO now has found the leading algorithmic crypto trading firm, Wintermute as its market maker(MM) with latter holding 0.5% of the memetokens’ total supply.
According to Arkham Intel, Wintermute has withdrawn a total of 4.34M $NEIRO, which is worth $736000 from Gate within 24 hours. Currently, Wintermute holds 5.74M $NEIRO which accounts for 0.5% of the total $NEIRO token supply.
With its huge holdings in $NEIRO, Wintermute establishes itself as a market maker and can help the community provide the market with liquidity and ensure its ongoing functionality. Its growing popularity has positioned $NEIRO as the next major memecoin following in the footsteps of $DOGE and $SHIB.
$NEIRO is currently trading at $0.1868 and has seen a massive surge of 18.73%. The memetoken which is positioned as ‘the sister of $DOGE’ has seen an insane trajectory and jumped by 453.47% in the past 7 days.
One of the major factors that triggered its rapid and sudden jump, was Binance Futures launching a NEIRO ETHUSDT Perpetual Contract on September 6. The introduction of this new product spurred a 104% surge.
The perpetual contract was launched with an aim to allow users to trade the price movements of Neiro Ethereum (NEIROETH) against USDT with up to 75x leverage. The development is especially, deemed exciting for experienced traders who want higher exposure with relatively smaller capital.
Also Read: Neiro Price Surge 55% as Whale Invests $297K; Next Dogecoin?
Source: https://www.cryptonewsz.com/market-maker-wintermute-holds-0-5-total-neiro/