Whales Are Buying NEIROETH: Is a Binance Spot Listing Next?

• Whale activity shows significant NEIROETH accumulation, indicating strong investor confidence in its potential.
• Binance may consider listing on its spot market due to growing whale interest and decentralization.

NEIROETH (Neiro On Ethereum) appears to be entering an accumulation period, according to SpotOnChain. Several large whales have raised their holdings, implying a possible shift in market sentiment.

This development has piqued the interest of crypto aficionados, who are wondering whether Binance may consider a spot listing for the meme token soon.

$NEIRO (Neiro Ethereum) seems to be in an accumulation phase according to our latest on-chain data:

1/ Whale 0x6ab accumulated 17.7M $NEIRO in the last 7 days at an average price of $0.086.

2/ Whale 0x9Ba bought 17.5M $NEIRO on Sept 6 at $0.154. While profitable with $FET, this… pic.twitter.com/z1b5pM6NSo

— Spot On Chain (@spotonchain) September 27, 2024

Whales Accumulating NEIROETH: Betting on a Profitable Future

One famous whale, 0x6ab, has accumulated a remarkable 17.7 million NEIROETH in the last seven days at an average price of $0.086. This acquisition reflects a high belief in the asset’s future, particularly given its present growth rate.

Similarly, another whale, 0x9Ba, purchased 17.5 million NEIROETH on September 6 for $0.154. Despite previous success with Fetch.ai (FET), this whale has not fared as well with meme currencies. Nonetheless, their substantial investment in NEIROETH shows that they are expecting a shift in fortunes.

Another important participant, whale 0xAB5, has collected 6 million NEIROETH in the last month using a dollar-cost averaging (DCA) approach at an average price of $0.128. This whale has had previous success with meme coins, particularly PEPE, which may signal a similar expectation for the meme token’s performance.

Whales and Market Makers Showing Strong Confidence in the Asset 

Furthermore, whale 0x1ED purchased 8.6 million NEIROETH at an average price of $0.116, but they liquidated a portion of their holdings without profit, leaving them with 5.6 million token.

Their track record of benefiting from other assets like ETHFI, SYN, and PENDLE adds to the intrigue surrounding their latest NEIROETH transactions.

Wintermute, a well-known market maker, has a big position in NEIROETH, owning 52.97 million tokens worth around $4.97 million, or about 5.3% of the entire supply. This significant position by a market maker emphasizes the growing interest in NEIROETH and raises concerns about its future expansion and adoption.

NEIROETH currently has a market capitalization of $91.6 million, which is still less than $100 million, and the cryptocurrency has shown signs of greater decentralization in recent weeks.

Interestingly, as CNF previously reported, Binance has already introduced a perpetual contract for NEIROETH with leverage of up to 75x, though spot trading for the token is not yet available at the time of writing.

As of writing, NEIROETH is trading at $0.09152, up 7.37% over the last seven days. Its market cap of about $91,657,038 reflects its increasing potential as more investors see its value.