Another market maker is buying $PONS .
First, it was Wintermute.
Now it’s Cumberland.
A wallet related to Cumberland has withdrawn $3.5 million worth of PONS from Gate over the past four days, at an average withdrawal price of about $0.80, for a total value of roughly $2.78 million.
And this isn’t a random transfer.
That wallet has been continuously withdrawing PONS in batches for four straight days.
Meanwhile, Wintermute has accumulated an additional 3.43 million PONS through scheduled purchases.
So, in the crypto space, the two biggest liquidity giants each now hold about 7 million $PONS .
> Wintermute: 3.43 million PONS
> Cumberland: 3.5 million PONS
And @CumberlandSays started moving inventory just days after launching PONS spot and perpetual markets on Gate.
It’s interesting that a market maker is accumulating.
But the fact that both are acting at the same time caught my attention.
Obviously, someone is building something around the liquidity of $PONS .
First, it was Wintermute.
Now it’s Cumberland.
A wallet related to Cumberland has withdrawn $3.5 million worth of PONS from Gate over the past four days, at an average withdrawal price of about $0.80, for a total value of roughly $2.78 million.
And this isn’t a random transfer.
That wallet has been continuously withdrawing PONS in batches for four straight days.
Meanwhile, Wintermute has accumulated an additional 3.43 million PONS through scheduled purchases.
So, in the crypto space, the two biggest liquidity giants each now hold about 7 million $PONS .
> Wintermute: 3.43 million PONS
> Cumberland: 3.5 million PONS
And @CumberlandSays started moving inventory just days after launching PONS spot and perpetual markets on Gate.
It’s interesting that a market maker is accumulating.
But the fact that both are acting at the same time caught my attention.
Obviously, someone is building something around the liquidity of $PONS .