Chain analyst The Data Nerd has revealed that four major entities are holding large amounts of NEIRO_ETH. Along with Wintermute, which has drawn attention for its trading activity, the report identifies three other prominent market makers (MMs) and a venture capital (VC) firm holding significant amounts of NEIRO_ETH.
NEIRO Market Activity
The price of the NEIRO Ethereum token has skyrocketed 54.94% in the past 24 hours to $0.085864. The token's 24-hour trading volume reached $56,169,506, indicating strong market interest. NEIRO_ETH currently has a market capitalization of $85,864,218, with a circulating supply of 1 billion coins, which is also the maximum supply of the token.
Derivatives data for NEIRO_ETH shows trading volume down 25.42% to $2.05 billion. Open interest also fell 15.86% to $142.01 million. Despite these declines, long positions still slightly outnumber shorts, especially on platforms like Binance.
GSR, Toka Labs and Auros Global Lead NEIRO_ETH Holdings
Data Nerd’s analysis shows that GSR holds 15 million NEIRO_ETH tokens, worth approximately $1.14 million. This makes GSR one of the largest holders of the token, indicating their confidence in the asset. GSR itself is priced at $0.009730, up 0.04% over the past 24 hours, and has a maximum supply of 4.5 million GSR tokens.
Toka Labs, another influential market maker, holds 5.114 million NEIRO_ETH tokens, worth approximately $384,000. Auros Global holds 3.6 million tokens, worth approximately $270,000. These significant holdings by major market players indicate that NEIRO_ETH is growing in popularity among cryptocurrency traders.
Arrington, a venture capital firm known for its cryptocurrency investments, also purchased 5.107 million NEIRO_ETH tokens, worth approximately $383,000. This institutional interest from a VC firm further demonstrates the growing appeal of NEIRO_ETH.
What Does This Mean For NEIRO_ETH
The accumulation of NEIRO_ETH by market makers and venture capital firms indicates growing confidence in the token's potential. These significant holdings may represent strategic positions by these firms, anticipating increased market activity or price increases.
Investors and traders will likely keep a close eye on NEIRO_ETH as these major players continue to hold large stakes. NEIRO_ETH’s strong price performance suggests that the token could see more trading activity, driven by both institutional and retail interest.
