In the world of Bitcoin and altcoins, companies’ cryptocurrency preferences attract attention. The latest move came from an investment company. It was a bold move that caught the attention of the cryptocurrency community. Accordingly, GSR Markets, a leading market maker and investment firm, made the move. Made a significant purchase of Worldcoin (WLD) from several cryptocurrency exchanges. The market maker’s strategic purchasing attracts attention. Accordingly, it caused an increase in the price of the altcoin WLD.
Huge purchase of altcoin WLD from investment company
GSR Markets recently purchased 675,000 WLD tokens in a transaction on Bybit and Gate.io exchanges. Blockchain data analysis platform Spot on Chain was quick to report on this significant move by GSR Markets. The purchase represents an increase in GSR Markets’ total holdings of the altcoin WLD over the past seven days. Accordingly, this amount has now reached an impressive level of 1,697 million WLD. In terms of value, this translates to approximately $2.57 million.
🚨 GSR Markets just accumulated 675K $WLD ($1.05M) from #bybit oath #gate.io 15 mins ago.
The market maker has been actively accumulating $WLD from exchanges lately, totaling 1.697M $WLD ($2.57M) over the past 7 days.
Currently, @GSR_io Markets holds 10.368M $WLD ($16.07M),… pic.twitter.com/RGQz3cDWLl
— Spot On Chain (@spotonchain) October 11, 2023
Spot on Chain included information about the transaction. In the statement, “GSR Markets purchased 675 thousand altcoins WLD (worth $1.05 million) on the Bybit and Gate.io exchanges. The market maker has been actively accumulating WLD from exchanges lately. It also sold a total of 1.697 million WLD in the last 7 days. GSR Markets currently holds WLD 10.368 million ($16.07 million). Accordingly, this makes him one of the largest WLD token holders in the market.
WLD price rises in response
The rapid market reaction to this significant acquisition by GSR Markets led to a price increase of approximately 6% in WLD. The altcoin reached $1.64, reflecting investor interest in the token. WLD then experienced a minor pullback. However, it is currently trading at around $1.56 at the time of writing. The price increase shows the influence of major market players such as GSR Markets on the cryptocurrency market.
This strategic acquisition highlights the growing interest in tokens like altcoin WLD. On the other hand, it further strengthens the position of the cryptocurrency market as an area that continues to attract significant investments. Such moves instill confidence in investors. It also gives insight into potential future market trends. When we look at Kriptokoin.com, it is noteworthy that GSR Markets has significantly purchased WLD. On the other hand, it positions the company as a notable player in the field of cryptocurrency investments. It also highlights the expanding role of institutional investors in the crypto space.
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