NewsletterGSR 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.
Read Also: ARKM Listed on Binance with GSR Markets and Wintermute as Market Makers
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.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Expert Predicts Further Downside For Bitcoin As Fear and Greed Index Drops To 10
- Solana and XRP ETFs Attract Fresh Inflows Even as Crypto Market Falls
- BLS to Release Jobs Report on Nov. 20 as Uncertainty Over Fed Rate Cut Persists
- JPMorgan calls Bitcoin Price Bottom, Predicts It Will Challenge Gold Next Year
- Zcash to Surpass XRP? Arthur Hayes Makes Bold Claim Amid ZEC’s 45% Rally
- Litecoin Price: With a 12% Surge and Pearson BTC Correlation at –0.01, Is LTC Gearing Up for $125?
- What’s Next for Chainlink Price After 53.87 Million Tokens Accumulated
- What the New Bitcoin Model Predicts About a Possible $200K BTC Price Target?
- Zcash Price Soars 45%: Here’s Why
- Bitcoin Price Pattern Points to a Crash to $62k as Fed Cut Odds Fall to 54%
- Zcash Price Defies Market Crash: Will Shrinking Exchange Netflows Keep ZEC Rallying?
