Wintermute Accumulates 7% Of $NEIRO As Big Traders Position For A Breakout

Wintermute has made a significant move in the market, accumulating 7% of $NEIRO, signaling bullish sentiment for the token.

As on-chain metrics show, major wallets are rotating into $NEIRO, with increasing activity from Chinese investors, who are buying the token on spot markets and longing perpetual contracts. The market is anticipating a potential breakout, with $2 billion in short positions poised to be liquidated as the price pushes towards new highs.

The rally in $NEIRO appears to be gaining momentum. If the token surpasses $122 million in market cap, over $3 million in liquidations are expected, adding further fuel to the upward trend.

This setup has drawn the attention of several large traders, including sniper wallet 0xc05, which is still holding a substantial position of 2.01 billion $NEIRO, valued at $1.9 million. This trader has seen impressive profits, with a 5.2x return totaling $1.84 million.

Unknown Trader Makes Massive Profits From $NEIRO Investment 

Adding to the excitement, Arkham reports that an unknown trader made an astounding $1.8 million profit from a mere $16,500 investment in $NEIRO. Remarkably, this investor bought the tokens within the first two days after the project launched, drawing parallels to other early-stage winners in the crypto space.

As $NEIRO continues its strong performance, market watchers are keeping a close eye on how the token will behave in the near term. With such large positions in play and the possibility of significant liquidations, the path to new highs seems well within reach. However, the high volatility means traders should proceed with caution, keeping an eye on key resistance levels as $NEIRO moves forward.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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Source: https://nulltx.com/wintermute-accumulates-7-of-neiro-as-big-traders-position-for-a-breakout/