Wintermute Trading transferred 2.6 million DYDX (approximately 5.08 million USD) to the stock exchange according to Lookonchain data. Wintermute Trading’s recent transactions led to speculation involving DYDX, which resulted in a decrease in token price.
Wintermute Trading Transfers 5.08 Million Dollars Value of DYDX to Exchanges
Recently, Wintermute Trading has made some significant moves that have generated great excitement among traders and investors. They have sent a total of 653,295 DYDX tokens, which is approximately equivalent to 1.37 million US dollars, to various exchanges. However, it is not yet clear why Wintermute has sent such a large amount of DYDX to the exchanges.
There are rumors circulating that Wintermute has sold its DYDX assets, but these reports are difficult to confirm. However, it is important to note that DYDX is not very liquid, which means that Wintermute cannot use these assets to repay its debts.
The balance in Wintermute’s wallet address is equivalent to 2,517,667 US dollars worth of DYDX, which is valued at 5,261,924 USD. Shortly after receiving this amount of DYDX from OpsSubDAO, Wintermute transferred 6,371,700 USDC back to OpsSubDAO.
Currently, Wintermute is making transfers to Kraken, OKX, and several other exchanges and wallets through OTC transactions to acquire more DYDX. The purpose of these transactions is not yet clear, but it can be speculated that Wintermute intends to increase its DYDX holdings.
After Wintermute started transferring DYDX to exchanges, the price of DYDX dropped by approximately 8.5%. Although Wintermute’s intentions are not fully clear, it is evident that the company is making significant moves in the market.
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