Wintermute Trading Withdraws 8 Million ARKM Tokens from Binance, Increasing Position by 731%
Wintermute Trading, a major crypto market maker, has withdrawn over 8 million ARKM tokens from Binance, highlighting its significant role in Arkham Intelligence’s dox-to-earn platform. This platform aims to reveal the identities of anonymous crypto users and rewards participants with ARKM tokens. The withdrawal of these tokens has increased Wintermute’s position by over 731%, according to blockchain analytics firm Nansen.
Key Points:
- Wintermute Trading has withdrawn more than 8 million ARKM tokens from Binance.
- This withdrawal highlights Wintermute’s involvement in Arkham Intelligence’s controversial dox-to-earn platform.
- The accumulation of ARKM tokens potentially positions Wintermute as a major liquidity provider in the ecosystem.
- Wintermute became the 10th-largest holder of ARKM tokens after the transactions.
- The ARKM token has experienced a 5.6% decrease in the past 24 hours.
According to “Paul,” a core contributor for Lyra, Wintermute’s motive for acquiring these tokens is unlikely to be for investment purposes. Instead, they may be engaging in market-making activities or facilitating over-the-counter deals. The distribution of tokens to market makers prior to the token’s launch helps ensure deep and stable markets. Arkham Intelligence representatives did not respond to CoinDesk’s request for comment, and Wintermute CEO Evgeny Gaevoy declined to provide any statement.
Hot Take:
Wintermute Trading’s withdrawal of 8 million ARKM tokens from Binance and subsequent increase in position showcases their significant role in Arkham Intelligence’s dox-to-earn platform. This move positions Wintermute as a major player in providing liquidity within the ecosystem. The motives behind Wintermute’s acquisition of ARKM tokens remain unclear, but it is evident that they are actively participating in the market-making aspect of the platform.
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