LayerZero Labs’ Safe Multisig Withdraws $21.3M In $ZRO From Binance, Triggering Price Surge

According to Scopescan, a Safe Multisig wallet managed by LayerZero Labs withdrew 5 million $ZRO (worth $21.3 million) from Binance.

This move led to a 6.8% surge in $ZRO’s price yesterday.

A Safe Multisig created by @LayerZero_Labs withdrew 5M $ZRO ($21.3M) from #Binance.

Price of $ZRO pumped by 6.8% today.

moneyflow:https://t.co/k3tsoVMKXj

Follow @ScopeProtocol and @0xScopescan for more updates. pic.twitter.com/VJVEYyj8rw

— Scopescan (@0xScopescan) July 17, 2024

The market activity surrounding $ZRO has been significant. GSR Markets, one of the leading market makers, saw its $ZRO token holdings increase from $9.53 million to $14.53 million.

On-chain analyst ai_9684xtpa reported that Wintermute, another major market maker, transferred 5 million $ZRO to GSR Markets, valued at $20.1 million. All these tokens have since been deposited back into Binance.

What happened in Crypto in the last 12h?

– $MKR NewGovToken
– $WLD Extension of the lock-up
– $ZRO GSR Market buy
– $ASTR New brand
– $ATH Buyback planned
– $RARE Layer 2
– $FTT CFTC settlement
– $SWEAT $AMB $NGL Tokenomics

MakerDAO has unveiled NewGovToken Activation… pic.twitter.com/uy9P5sSDdd

— Layergg (@layerggofficial) July 17, 2024

$ZRO Has Support Of Six Markert Makers 

Currently, $ZRO is supported by six market makers, with GSR Markets and Wintermute being the largest. GSR Markets holds 11 million $ZRO tokens for market-making activities, while Wintermute holds 6.65 million tokens.

一小时前 $ZRO 做市商 Wintermute 多签地址向 GSR Markets 转移 500 万枚 ZRO，价值 2010 万美金，目前全部代币已充值进 #Binance

ZRO 共有六家做市商，其中 GSR Markets 做市代币数量为 1100 万枚，Wintermute 为 665 万枚，是做市规模最大的两家

钱包地址 https://t.co/6eeyP0I5bo pic.twitter.com/O8jHMrBd7r

— Ai 姨 (@ai_9684xtpa) July 17, 2024

This recent activity underscores the dynamic nature of the $ZRO market and highlights the influential role of major market makers like GSR Markets and Wintermute in driving liquidity and price movements. As $ZRO continues to gain traction, the strategic maneuvers by these market players will be closely watched by investors and analysts alike.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: hryshchyshen/123RF // Image Effects by Colorcinch