Wintermute Withdraws $3.16 Million API3 from Kraken Staking Address

IconCryptoNewsTerminal Staff19 Sep, 2024

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Wintermute Withdraws $3.16 Million API3 from Kraken Staking Address

Wintermute, a leading crypto market maker, has withdrawn $3.16 million worth of API3 tokens from the Kraken exchange's staking address. This withdrawal was reported by on-chain analyst ai_9684xtpa via Twitter, who noted that the address associated with Wintermute has a history of depositing API3 tokens to Kraken after withdrawing them from staking addresses. In the past six months, the address has deposited a total of $4.42 million worth of API3 to the exchange. API3 is a decentralized oracle network that provides off-chain data to smart contracts. The project has gained significant traction in the crypto space, and its API3 token has performed well in recent months. The recent withdrawal by Wintermute suggests that the company may be looking to increase its exposure to API3, potentially in anticipation of further price appreciation.

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