In the fast-paced world of cryptocurrencies, major players are constantly on the move. Some important altcoin transactions took place on October 10, which attracted the attention of market observers. The altcoins in question consisted of LQTY, HFT and LINK. Here are the details…
New wallet withdraws 995,604 LQTY from Binance
According to data provided by Loononchain, a new wallet appeared on October 10 that is making waves in the crypto community. This wallet had a significant withdrawal from Binance, carrying 995,604 LQTY worth approximately $1.45 million. The identity of the wallet owner remains a mystery, but this significant transaction has raised eyebrows and sparked curiosity in the crypto world.
A fresh wallet withdrew 995,604 $LQTY($1.45M) from #Binance 20 mins ago.https://t.co/IM47vJS2tp pic.twitter.com/i708qh9naq
— Lookonchain (@lookonchain) October 10, 2023
GSR Markets took action in the altcoin market: HFT bought
The Data Nerd, another cryptocurrency tracking platform, reported that GSR Markets went on a withdrawal spree the same day. GSR Markets withdrew a total of 340,000 HFT from Binance, equivalent to approximately $118,600. What was even more surprising was that this was not a one-off incident. GSR Markets had withdrawn 1.38 million HFTs in the 12 hours leading up to October 10, worth a total of approximately $425,000. As a result of these moves, GSR Markets currently ranks fifth in terms of HFT holdings, holding 36.86 million HFTs worth approximately $11.21 million. The reasons behind these pullbacks remain the subject of speculation, leaving market analysts wondering about GSR Markets’ intentions.
Just now, GSR Markets withdrew another 340K $HFT ($118.6K) from #binance.
They have withdrawn a total of 1.38M ($425K) in the last 12H.
Currently, they are the top #5 holder with 36.86M $HFT ($11.21M). pic.twitter.com/IoO3VROG0U
— The Data Nerd (@OnchainDataNerd) October 10, 2023
Institutional investors are accumulating LINK
Meanwhile, Look on Chain data has brought to light a fascinating development involving institutional investors. These investors signaled their intention to accumulate LINK tokens by creating 81 new wallet addresses on September 15. Their strategy seems to have worked because by October 10, they managed to accumulate 575,632 LINK tokens worth approximately $4.2 million. What’s even more impressive is that these institutional investors have raised a total of 7.66 million LINK tokens from Binance since September 19, amounting to a staggering $56 million. This shows their confidence in LINK’s potential and their determination to build a solid portfolio.
The institution with 81 fresh wallets accumulated $575,632 $LINK ($4.2M) again after the $LINK price dropped today.
And the institution has accumulated a total of 7.66M $LINK ($56M) from #Binance since Sept 19.
Details: https://t.co/hSdkoncNgZhttps://t.co/dtqUHhsFkp pic.twitter.com/ETOvqeqRVS
— Lookonchain (@lookonchain) October 10, 2023
As a result, October 10 was a day of significant cryptocurrency movements. Major players have made significant transactions that have caused the crypto community to speculate about their intentions and strategies. The crypto market continues to evolve. At this point, it is critical for investors and enthusiasts to be alert about these interesting developments. Additionally, it is important for them to have knowledge.
