Whales and VCs Accumulate NEIRO_ETH, Price Surges 55%

• NEIRO_ETH’s price surged 54.94% in 24 hours, signaling strong market interest with a trading volume of $56.17 million.
• GSR, holding 15 million NEIRO_ETH tokens worth $1.14 million, shows increasing confidence in the token’s potential.
• Arrington VC accumulated 5.107 million NEIRO_ETH tokens, highlighting rising institutional interest in the asset.

On-chain analyst The Data Nerd has revealed that four key entities are holding significant amounts of NEIRO_ETH. Along with Wintermute, which has been making headlines for its trading activity, the report identifies three other prominent market makers (MMs) and a venture capital (VC) firm with sizable NEIRO_ETH holdings.

NEIRO Market Activity

The NEIRO Ethereum token has seen its price skyrocket by 54.94% over the past 24 hours to $0.085864. Its 24-hour trading volume reached $56,169,506, showing strong market interest. NEIRO_ETH currently has a market capitalization of $85,864,218, with a circulating supply of 1 billion coins, which is also its maximum supply.

Derivatives data for NEIRO_ETH shows a 25.42% drop in trading volume to $2.05 billion. Open interest also decreased by 15.86% to $142.01 million. Despite these declines, long positions still slightly outweigh shorts, especially on platforms like Binance.

GSR, Toka Labs, and Auros Global Lead NEIRO_ETH Holdings

The Data Nerd’s analysis shows that GSR holds 15 million NEIRO_ETH tokens, worth roughly $1.14 million. This makes GSR one of the largest holders of the token, signaling its confidence in the asset. GSR itself is priced at $0.009730, up 0.04% in the past 24 hours, and has a maximum supply of 4.5 million GSR tokens.

Toka Labs, another influential market maker, owns 5.114 million NEIRO_ETH tokens, worth about $384,000. Auros Global holds 3.6 million tokens, valued at approximately $270,000. These significant holdings by key market players suggest that NEIRO_ETH is gaining popularity among crypto traders.

Read also : Wintermute Buys the Dip: 19M NEIROETH Tokens Added Despite 97% Crash

Arrington, a venture capital firm known for its crypto investments, has also acquired 5.107 million NEIRO_ETH tokens, worth roughly $383,000. This institutional interest from a VC firm further demonstrates the growing appeal of NEIRO_ETH.

What This Means for NEIRO_ETH

The accumulation of NEIRO_ETH by established market makers and venture capital firms indicates growing confidence in the token’s potential. These substantial holdings could represent strategic positioning by these firms, anticipating increased market activity or price appreciation.

Investors and traders will likely be watching NEIRO_ETH closely as these key players continue to hold large stakes. The strong price performance of NEIRO_ETH suggests that the token could see more trading activity, driven by both institutional and retail interest.