Algorithmic trading firm Wintermute has added a substantive 19.11 million Neiro Ethereum (NEIROETH) tokens, even as the altcoin’s price plummeted 97% in the past 24 hours. Blockchain analytics platform Spot On Chain reported the move, highlighting Wintermute’s increased NEIROETH holdings to 55.36 million tokens, valued at roughly $195,420.
Here are the related addresses:
1. Trader “0x6ac”: https://t.co/ZkkHhMpyzV
2. Trader “0xc05”: https://t.co/R0gSlU3L1i
3. Trader “0x090”: https://t.co/sZoKD6BfyN
4. Wintermute Trading entity: https://t.co/17TC0ML9uH
— Spot On Chain (@spotonchain) September 17, 2024
At the time of writing, NEIROETH is trading at $0.003521, reflecting the 97.23% drop. However, trading volume has surged by 333.98%, according to CoinMarketCap. The altcoin’s market capitalization has shrunk to $3.4 million, placing it as the 374th-largest cryptocurrency.
Binance Listing Triggers Price Swings
The price crash for NEIROETH was triggered by Binance’s announcement to list First Neiro on Ethereum (NEIRO). This listing spurred an 859.60% surge in NEIRO’s price, while NEIROETH took a nosedive.
Binance’s listing decision has triggered a wild ride: #NEIROETH plummets 42% while $NEIRO skyrockets ~1000% overnight!
Let’s check out some on-chain highlights in 🧵👇 pic.twitter.com/R8jxgJcp7F
— Spot On Chain (@spotonchain) September 17, 2024
While smart traders made substantial money from the rise of NEIRO, the holders of NEIROETH suffered losses. Wintermute tried to buy the dip and it seems that the firm expects a price surge in the short term.
Contrasting Fortunes: NEIROETH vs. NEIRO
As per CoinMarketCap, NEIROETH has crashed 98.16% in the past week and 97.55% in the past month. Additionally, the cryptocurrency is down 75.19% since August. It is clear that the meme coin has been one of the worst performing digital assets in recent history.
Read also :NEIRO Kicks Off Major Charity Initiative to Support Shiba Inu Rescue Efforts Worldwide
Meanwhile, its rival, NEIRO, has skyrocketed a massive 733.61% in the past week followed by a 249.01% increase in price in the past month. Additionally, the cryptocurrency is up 8071.85% since August this year and made an all-time high of $0.0004284 over 13 hours ago. The altcoin is currently trading at $0.0003489, down 13% from its ATH.
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