Wintermute, a global algorithmic market maker, has withdrawn an astonishing 158 billion PEPE tokens from Binance.

This transaction, valued at approximately $1.19 million, signifies a remarkable shift in the meme coin’s liquidity.

Billions of PEPE Tokens on the Move

Wintermute’s recent transaction reflects its strategic positioning within the crypto market. Especially when understanding that the firm embodies high-frequency market-making in the industry. Its algorithms and business models, distinct from traditional OTC or dark pool market makers, aim to enhance market efficiency and liquidity.

The substantial withdrawal of PEPE tokens by Wintermute from Binance has triggered discussions among investors about how it may affect the meme coin’s market valuation. Indeed, Wintermute collaborates with more than 50 cryptocurrency exchanges. It usually withdraws assets from one exchange to trade on another to benefit.

For instance, on Binance, moving the price of PEPE by 2% requires an investment of $1.90 million. In contrast, on exchanges like Bybit, HTX, and Kraken, only $300,000 can achieve the same price movement. This tactic is a calculated maneuver used by market makers to generate profits.

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Author: Bary Rahma

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