Wintermute has made a significant move in the market, accumulating 7% of $NEIRO, signaling bullish sentiment for the token.
As on-chain metrics show, major wallets are rotating into $NEIRO, with increasing activity from Chinese investors, who are buying the token on spot markets and longing perpetual contracts. The market is anticipating a potential breakout, with $2 billion in short positions poised to be liquidated as the price pushes towards new highs.
Wintermute has accumulated 7% of $neiro, with 2 billion $$ in shorts to be blown out on the path to new highs. On chain metrics shows quite a few big wallets rotating from the other neiro, as well as wechats showing the Chinese are aping spot and longing perps.. pic.twitter.com/iDjW1BXjP4
— TheS◎Lstice (@The__Solstice) September 19, 2024
The rally in $NEIRO appears to be gaining momentum. If the token surpasses $122 million in market cap, over $3 million in liquidations are expected, adding further fuel to the upward trend.
Over 3M in liquidations once $NEIRO breaks 122m@NeiroOnEthereum squeeze it pic.twitter.com/0gHfjN1RQF
— 🧠 investor (@moneymancalls) September 19, 2024
This setup has drawn the attention of several large traders, including sniper wallet 0xc05, which is still holding a substantial position of 2.01 billion $NEIRO, valued at $1.9 million. This trader has seen impressive profits, with a 5.2x return totaling $1.84 million.
The $NEIRO rally appears to remain strong!
Note that sniper 0xc05 is still holding 2.01B $NEIRO ($1.9M) with an impressive total profit of $1.84M (5.2x).
Keep an eye on $NEIRO and smart traders by following @spotonchain and setting alerts at https://t.co/CnAMAuD7L5 https://t.co/zAv3b79HXX pic.twitter.com/JxjZezZaKc
— Spot On Chain (@spotonchain) September 19, 2024
Unknown Trader Makes Massive Profits From $NEIRO Investment
Adding to the excitement, Arkham reports that an unknown trader made an astounding $1.8 million profit from a mere $16,500 investment in $NEIRO. Remarkably, this investor bought the tokens within the first two days after the project launched, drawing parallels to other early-stage winners in the crypto space.
👀100 X on NEIRO token.
According to Arkham, an unknown trader earned $1.8 million from a $16,500 investment in NEIRO token 📈 The most interesting thing is that the trader purchased the tokens within the first two days after the project was launched, which is very similar pic.twitter.com/LgCUxtMIoC
— Official_WealthFlow Trading 🏆🦄👑 (@Wealthykingdom) September 19, 2024
As $NEIRO continues its strong performance, market watchers are keeping a close eye on how the token will behave in the near term. With such large positions in play and the possibility of significant liquidations, the path to new highs seems well within reach. However, the high volatility means traders should proceed with caution, keeping an eye on key resistance levels as $NEIRO moves forward.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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