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- Binance’s listing triggered a sharp divergence between NEIRO and NEIROETH, driving traders to significant gains.
- Wintermute Trading increases NEIROETH holdings, signaling confidence despite the recent market volatility.
Binance’s latest listing choices have caused major market fluctuations, most notably for NeiroOnEthereum (NEIROETH) and Neiro (NEIRO).
According to SpotOnChain data, NEIROETH fell 42%, while NEIRO increased by approximately 1000% overnight. This unexpected divergence has sparked a trading frenzy, attracting attention to the remarkable gains achieved by knowledgeable investors in the cryptocurrency industry.
⭐️ Smart traders are making big ROIs from the rise of @neiroethcto $NEIRO:
1. “0x6ac” is making $1.77M (x45) thanks to being a super early buyer. He currently holds 4.6B $NEIRO ($1.75M).
2. “0xc05” is making $619K in less than 20 hours. He used #BananaGun bot to snipe 140 $ETH… pic.twitter.com/Sn32u1Iung
— Spot On Chain (@spotonchain) September 17, 2024
Smart Traders Capitalize on NEIRO’s Surge Amid Binance Listing
In one prominent case, a trader known as “0x6ac” made an astounding $1.77 million in profits, representing a 45x return on investment. This significant return was the consequence of an early purchase of NEIRO, which enabled him to acquire 4.6 billion NEIRO tokens, currently worth $1.75 million.
Another smart trader, “0xc05,” took advantage of the price surge by using the BananaGun bot to buy 140 ETH worth of NEIRO shortly after Binance’s listing announcement. In just 20 hours, “0xc05” had gained $619,000, indicating the possibility of quick profits in such turbulent markets.
The success stories do not end there. Another trader, “0x090,” made a profit of $302,000 after only four days of holding 1.057 billion NEIRO coins. The trader sold these tokens for $352,000, representing a 603% gain following the huge price spike that followed the Binance listing announcement.
Wintermute Expands NEIROETH Holdings Despite Market Volatility
Interestingly, despite the volatility surrounding NEIROETH, Wintermute Trading, a well-known liquidity provider and market maker, has continued to expand its holdings of the coin.
According to another tweet from SpotOnChain, Wintermute has added 19.11 million NEIROETH over the last 24 hours, raising its total holdings to 55.36 million NEIROETH, valued at $4.11 million.
This action, made despite a considerable decline in the token’s price, demonstrates Wintermute’s strategic commitment to the asset in the face of uncertainty.
Beside that, as we previously reported, Binance’s decision to launch perpetual contracts with up to 75x leverage for NEIROETH has added another degree of complexity to the token’s trading environment.
However, as of writing, Binance has yet to introduce spot trading for NEIROETH, leaving many traders waiting to see how the market would react once that option is available.
