Wintermute Adds Massive Amount of NEIROETH Amid Price Plunge

• NEIROETH has dropped a massive 97% in the past 24 hours. 
• Wintermute bought 19.11 million NAIROETH, bringing its total holding to 55.36 million NEIROETH.
• NEIROETH crashed after Binance announced the listing of its rival, NEIRO.

Algorithmic trading firm Wintermute has added a substantive 19.11 million Neiro Ethereum (NEIROETH) tokens, even as the altcoin’s price plummeted 97% in the past 24 hours. Blockchain analytics platform Spot On Chain reported the move, highlighting Wintermute’s increased NEIROETH holdings to 55.36 million tokens, valued at roughly $195,420.

At the time of writing, NEIROETH is trading at $0.003521, reflecting the 97.23% drop. However, trading volume has surged by 333.98%, according to CoinMarketCap. The altcoin’s market capitalization has shrunk to $3.4 million, placing it as the 374th-largest cryptocurrency.

Binance Listing Triggers Price Swings

The price crash for NEIROETH was triggered by Binance’s announcement to list First Neiro on Ethereum (NEIRO). This listing spurred an 859.60% surge in NEIRO’s price, while NEIROETH took a nosedive.

While smart traders made substantial money from the rise of NEIRO, the holders of NEIROETH suffered losses. Wintermute tried to buy the dip and it seems that the firm expects a price surge in the short term.

Contrasting Fortunes: NEIROETH vs. NEIRO

As per CoinMarketCap, NEIROETH has crashed 98.16% in the past week and 97.55% in the past month. Additionally, the cryptocurrency is down 75.19% since August. It is clear that the meme coin has been one of the worst performing digital assets in recent history. 

Read also :NEIRO Kicks Off Major Charity Initiative to Support Shiba Inu Rescue Efforts Worldwide

Meanwhile, its rival, NEIRO, has skyrocketed a massive 733.61% in the past week followed by a 249.01% increase in price in the past month. Additionally, the cryptocurrency is up 8071.85% since August this year and made an all-time high of $0.0004284 over 13 hours ago. The altcoin is currently trading at $0.0003489, down 13% from its ATH.