Crypto Market Maker Wintermute Transfers $25.64 Million BTC to Binance
CryptoNewsTerminal Staff05 Sep, 2024
Crypto Market Maker Wintermute Transfers $25.64 Million BTC to Binance
Wintermute, a major crypto market maker, transferred 456 Bitcoin (BTC), worth approximately $25.64 million, to Binance over a 10-hour period. This large transaction contributed to a decline in BTC's price, which fell from $58,327 to $56,749 during the same timeframe. On-chain analyst @ai_9684xtpa highlighted the substantial movement of BTC from a wallet likely belonging to Wintermute to Binance. The analyst speculated that this transfer could impact market conditions, potentially contributing to a dip in BTC's value. Wintermute is known for its significant presence in the crypto market, providing liquidity and facilitating trades across various exchanges. This substantial movement of BTC to Binance has sparked interest and speculation within the crypto community about its potential implications for the broader market.
