Quant Trading Firm Accumulates Nearly $800,000,000 Worth of USCD and Ethereum in One Month: On-Chain Data

A leading analytics firm reveals that one of the world’s largest market makers has accumulated hundreds of millions of dollars worth of stablecoin USD Coin ($USDC) and Ethereum ($ETH) in as little as one month.

Arkham Intelligence shows that quant trading firm Jane Street has over $1.26 billion worth of crypto assets in its portfolio.

According to the analytics firm, Jane Street had about $470 million worth of crypto assets on February 27th, with Ethereum making most of the market maker’s portfolio. At the time, Jane Street held $416.84 million worth of $ETH, $28.77 million in $USDC, $12.21 million worth of the decentralized oracle network Chainlink ($LINK) and $5.71 million worth of the decentralized exchange Uniswap ($UNI).

Arkham says that Jane Street has been rapidly growing its crypto stacks over the past month, with massive amounts of $USDC and $ETH being added to their holding addresses.

According to the crypto intelligence firm, Jane Street now holds $761.71 million worth of $USDC, $476.29 million worth of $ETH, $13.36 million worth of $LINK and $6.42 million worth of $UNI.

Arkham Intelligence says that the quant trading firm’s crypto portfolio exploded by $795.64 million in about 30 days.

Source: Arkham Intelligence/Twitter

The analytics firm also points out they’re quite sure that the wallets containing the crypto assets belong to the market maker.

“Our label attributions are algorithmically greater than 95% confidence and manually reviewed before being uploaded to the platform. As for customer balances – this appears to be coming into their main wallets rather than an OTC [over-the-counter] service.”

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