GSR Markets Once Again Withdraws 675,000 WLD From the Exchange
GSR Markets, a leading crypto trading firm and liquidity provider, has been buying large amounts of WLD tokens from various exchanges in the past week. WLD is the native token of Worldcoin, a project that aims to create a global identity and financial network using iris scanning devices.
According to Spot On Chain, a blockchain data analysis platform, GSR Markets withdrew 675,000 WLD tokens from Bybit and Gate.io 15 minutes ago. This is the latest in a series of purchases that totaled 1.697 million WLD tokens ($2.57 million) over the past seven days.
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GSR Markets now holds approximately 10.368 million WLD tokens, worth approximately $16.07 million at the current price of $1.55 per token. This makes GSR Markets one of the largest holders of WLD tokens in the market.
GSR Markets’ Motives Behind WLD Tokens
GSR Markets’ accumulation of WLD tokens suggests several potential motives. One possibility is their optimistic outlook on Worldcoin’s long-term prospects and the vision of establishing a more inclusive and democratic digital economy. GSR Markets is preparing for future client demand, catering to those interested in accessing the Worldcoin network or trading WLD tokens.
Additionally, GSR Markets may diversify their portfolio to hedge against potential volatility or regulatory uncertainty within the crypto market. The implications of GSR Markets’ WLD token accumulation extend beyond their interests—it could impact the price and liquidity of WLD in the broader market.
Read Also: Worldcoin (WLD) Token Price Shoots Over 75% After Listing on Binance
As GSR Markets continues to acquire more WLD tokens, the available supply may decrease, potentially driving up prices if demand remains steady or increases. Conversely, GSR Markets could also enhance liquidity by offering OTC trading or market-making services for WLD—benefitting other traders and investors seeking to buy or sell this digital asset.
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