Famous trading company Wintermute recently activated Kraken and Coinbase wallets. Altcoin transfer worth $1.3 million causes concerns due to preparation for sale.
Wintermute filled exchange wallets with this altcoin
There has been a remarkable development in the altcoin market in recent hours. Well-known trading firm Wintermute deposited a total of 7.3 million BLUR ($1.3 million) to Kraken and Coinbase 1 hour ago.
However, the transaction is not the only transfer Wintermute has made recently. The company deposited a total of 46.6 million BLUR ($8.33 million) into the stock exchanges in the last 30 days. These large amounts of transfers suggest that the company may soon make a significant sales move in this altcoin.
Wintermute deposited 7.3M $BLUR ($1.3M) to #Kraken and #Coinbase 1 hour ago.
Wintermute has deposited a total of 46.6M $BLUR ($8.33M) to exchanges in the past 30 days.https://t.co/Bjm3iP7bYK pic.twitter.com/CJwLbv3oZm
— Lookonchain (@lookonchain) September 21, 2023
It is currently unclear what Wintermute intends with such a move. However, as a general opinion, stock market transfers of such large amounts usually occur before sales transactions. Investors and market experts are following this development closely. BLUR is eagerly awaiting what kind of change will occur in its price.
What is the price of BLUR?
BLUR price is pushing the highest levels of the day during Wintermute’s transfers. Blur (BLUR), which has recently attracted attention with large transfers in the altcoin market, is traded at $ 0.184033 at its current price. While there was a 6.29% price increase in the last 24 hours, a 4.57% increase is noticeable when looking at the whole of the last week.
BLUR is not the only one, these altcoins are on the red list of companies
Recently, the activity in the altcoin market continues to increase. Especially the altcoin transactions of some large companies are carefully followed by investors. One of them, DWF Labs, transferred 2 million FET ($465 thousand) and 100 million JASMY ($354 thousand) to Binance today.
DWF Labs has made notable transactions before. On August 25, he purchased 10 million FET ($2.15 million) from Binance at a price of $0.22. On June 26, he purchased 700 million JASMY ($3.04 million) from Gateio at a price of $0.0044.
DWF Labs(@DWFLabs) deposited 2M $FET($465K) and 100M $JASMY($354K) to #Binance just now.
DWF received 10M $FET($2.15M) from #Binance on Aug 25 when the price was $0.22.
And received 700M $JASMY($3.04M) from #Gateio on Jun 26 when the price was $0.0044.https://t.co/KOQ8NzeSw3 pic.twitter.com/ufO6S908JF
— Lookonchain (@lookonchain) September 21, 2023
After these transfers, the price movements of FET and JASMY attract attention. While FET increased by 4% in the last two hours to $ 0.233, JASMY increased by 8% and fell to $ 0.0037. As a result, apart from BLUR, altcoins such as FET and JASMY are also on the radar of large companies. Investors shape their strategies by closely following such large transfers.
What’s next?
DWF Labs’ altcoin transfers are making waves in the market. Such movements may indicate what kind of trend will prevail in the altcoin market. These transfers, which have an impact on investors’ short-term strategies, offer clues about understanding future market dynamics. Especially the steps of large companies can determine the general market trend. As Kriptokoin.com reported, DWF Labs stood out with its altcoin investments during the bear market.
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