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In a recent development, Wintermute Trading, a leading market maker, deposited a significant amount of the Arkham (ARKM) altcoin to cryptocurrency exchange Binance.
The company received a hefty sum of 21,581,981 ARKM, equivalent to $7.34 million, from the Arkham Ecosystem Fund. After this, Wintermute Trading immediately deposited 1.5 million ARKM ($510 thousand) to Binance.
This isn't the first time Wintermute Trading has made this kind of move. The market making company deposited a total of 11.39 million ARKM ($4.53 million) into Binance over the past 12 days, starting October 4. These deposits were made via the address 0xdbf for an average price of $0.398.
At the time of writing this article, ARKM price is trading at $0.3431.
Despite these significant deposits, Wintermute Trading still holds a significant amount of Arkham. The firm currently holds $20.08 million ARKM ($6.82 million) at address 0xdbf.
Arkham was released recently and some of it was distributed to users of the platform via airdrop. The Arkham platform is known for trying to reveal the identities of the institutions and people behind the wallet addresses that carry out onchain transactions.
*This is not investment advice.