Wintermute Shifts $16.12 Million in OP Tokens from Kraken
CryptoNewsTerminal Staff22 May, 2024
Wintermute Shifts $16.12 Million in OP Tokens from Kraken
Wintermute, a prominent crypto market maker, recently transferred 5.86 million OP tokens, valued at approximately $16.12 million, from the Kraken exchange to an address linked to the firm. According to on-chain analyst The Data Nerd, the recipient address now holds around 6.4 million OP tokens, worth an estimated $17.81 million. The transfer of OP tokens is indicative of Wintermute's continued involvement in the Optimism ecosystem, a layer-2 scaling solution for Ethereum. Optimism aims to address scalability and transaction cost issues on the Ethereum mainnet. OP is the native token of the Optimism network, and its value has increased significantly in recent months as the popularity of layer-2 solutions grows. Wintermute's movement of OP tokens from Kraken to its own address suggests that the firm is either accumulating OP tokens for trading purposes or plans to use them to provide liquidity on the Optimism network. The transfer is also a positive sign for the Optimism ecosystem, as it indicates institutional interest in the project.
