In the world of Bitcoin and altcoins, it is noteworthy that investment companies have recently withdrawn crypto currencies from stock exchanges. On the other hand, the opposite situation may also occur. Accordingly, from time to time, giant companies flood the stock markets with crypto currencies. The latest development came from the famous investment company GSR Markets. Let’s look at the details.
Huge altcoin figure withdrawn from Binance
In a recent move, the altcoin, which accounts for a significant amount, moved from Binance. The whale behind the movement is an investment company. Accordingly, the investment company named GSR Markets withdrew the altcoin HFT from Binance. The number drawn is not small. It corresponds to exactly 1.53 million dollars. In terms of quantity, it corresponds to 5.17 million HFT. This action follows a series of transactions by GSR Markets that have attracted the attention of the cryptocurrency community.
2 hours ago, GSR Markets (@GSR_io) withdrew another 5.17M $HFT ($1.53M) from #binance.
They current hold 41.7M $HFT ($12.5M), 20% of the circulating supply. pic.twitter.com/q7UYNgkM44
— The Data Nerd (@OnchainDataNerd) October 12, 2023
When we look at Kriptokoin.com, we see that the company has created a heavy HFT position. GSR Markets’ latest altcoin withdrawal also reveals a point. This brings the total HFT token holdings with an estimated market cap of $12.5 million to an impressive 41.7 million. This accounts for 20% of the total HFT circulating supply. This move demonstrates the company’s continued interest in accumulating these tokens and gaining a significant share of the market. This also indicates that the company will now become a market leader in this altcoin.
GSR Markets attracts attention
GSR Markets is known for actively participating in the cryptocurrency space, especially by trading and holding various digital assets. It is noteworthy that he strategically withdraws from Binance. On the other hand, their continued accumulation of altcoin HFT tokens shows a strong belief in the potential of the tokens and the underlying blockchain technology. GSR Markets is expanding its assets. On the other hand, the cryptocurrency community will closely monitor the future movements of the investment company. It will also predict the impact on the altcoin HFT market.
After the investment company’s altcoin withdrawal, there was a movement in the price. After the move that took place approximately 3 hours ago, there has been an increase of approximately 10% in the price. However, there was a slight retreat in HFT afterwards. When we look at the HFT price while writing the article, we see that the cryptocurrency is traded at $ 0.31. In the final analysis, the increase was 4.45%. Let’s see which other altcoins the investment company will take positions in the future.
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