BREAKING: Wintermute Trading Transfers $5.08M Worth of DYDX to Exchanges

Key Points

• Wintermute Trading’s recent transactions involving DYDX have caught the attention of traders and investors.
• Internal transactions between Wintermute and OpsSubDAO involving DYDX have been observed.
• The price of DYDX dropped by about 8.5% after Wintermute started depositing DYDX to exchanges.

According to Lookonchain, Wintermute Trading has sent 2.6 million DYDX (about $5.08 million USD) to the exchange. Wintermute Trading’s recent transactions involving DYDX have sparked speculation and caused a drop in the token’s price.

Wintermute Trading has recently made some significant moves in the market, which is causing a stir among traders and investors. Wintermute sent a total of 653,295 DYDX to various exchanges, which is equivalent to about $1.37M USD. This transaction occurred over the last few hours, and it’s unclear why Wintermute sent such a large amount of DYDX to exchanges.

There have been rumors that Wintermute has been selling off its DYDX holdings over the past few days, but it’s challenging to confirm these reports. However, it’s worth noting that DYDX is not highly liquid, which means that Wintermute couldn’t use it to pay its debts.

Instead, there was an internal transaction between Wintermute and OpsSubDAO, where OpsSubDAO transferred $3,170,000 DYDX to Wintermute Trading about 8 hours ago.

Wintermute’s wallet address is holding $2,517,667 DYDX, which is equivalent to $5,261,924 USD. Shortly after receiving the DYDX from OpsSubDAO, Wintermute transferred $6,371,700 USDC back to OpsSubDAO.

Wintermute is now making OTC transactions to buy more DYDX, which are being transferred to Kraken, OKX, and a few other exchanges and wallets. It’s unclear what the purpose of these transactions is at this time, but it’s possible that Wintermute is looking to increase its holdings in DYDX.

The price of DYDX dropped by about 8.5% after Wintermute started depositing DYDX to exchanges. While it’s unclear what Wintermute’s intentions are, it’s clear that the company is making some significant moves in the market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Tommy

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