Wintermute Presumed Addresses Deposited $12 Million ARB on Binance
CryptoNewsTerminal Staff10 Jun, 2024
Wintermute Presumed Addresses Deposited $12 Million ARB on Binance
Three addresses suspected to belong to crypto market maker Wintermute sent roughly $12 million (12.3 million) worth of ARB tokens to Binance three hours ago. The addresses had previously been linked to Wintermute due to similar transaction patterns and fund transfers. However, it is difficult to definitively verify the ownership of these addresses. This deposit is just one of several recent large transactions involving ARB tokens. Last week, a single address transferred $15.7 million worth of ARB to an unknown wallet. These movements suggest that there's a significant level of interest in the token from both individual traders and institutional investors. ARB is a relatively new token, having only been launched in October 2022. Despite its young age, it has quickly become one of the most traded tokens on decentralized exchanges due to its low fees and fast transaction times. The token's price has also been on a steady upward trend since its launch, which is likely another factor driving the recent surge in trading activity.
