While Bitcoin and the overall cryptocurrency market have struggled to maintain positive momentum this week due to growing concerns about the Israel-Hamas war and other macroeconomic events, some altcoins have seen positive divergence from the market.
At this point, investment company GSR Markets, one of the leading market makers, bought Hashflow (HFT) from Binance.
This purchase enabled HFT to diverge positively from the market and experience an increase of over 7%.
According to Lookonchain’s post, GSR Markets received 5.17 million HFT ($1.53 million) from Binance.
With this acquisition, the number of HFTs held by GSR Markets reaches 41.7 million, which currently corresponds to 20% of the circulating supply.
“GSR Markets again purchased 5.17 million HFT ($1.53 million worth) from Binance.
GSR currently holds 41.7 million HFT ($12.5 million) tokens, accounting for 20% of the circulating supply.”
GSR (@GSR_io) accumulated 5.17M $HFT ($1.53M) from #Binance again 1 hour ago.
GSR currently holds 41.7M $HFT ($12.5M), 20% of the circulating supply.https://t.co/IQFwJCfksH pic.twitter.com/E7FdjZ7x94
— Lookonchain (@lookonchain) October 12, 2023
HFT, which increased by more than 7% after the acquisition news and rose to $ 0.323, is traded at $ 0.314 at the time of writing.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/big-market-maker-continues-altcoin-purchases-heres-his-latest-purchase/