$SYN — The token shortage is starting to bite already.
After a 21% rise, Wintermute had to literally look for liquidity by digging through its reserves.
In just the last hour, Coinbase sent 4 million $SYN in four tranches of 1 million directly to Wintermute’s addresses.
Cobo added another 500.6K.
Then Wintermute took 422.5K from Bitvavo and sent it to a hot wallet on Binance.
All in all, market-makers had to pull in over $4.5 million SYN to support demand.
Looks like the shortage is no longer theoretical. It’s starting to pressure the market.
After a 21% rise, Wintermute had to literally look for liquidity by digging through its reserves.
In just the last hour, Coinbase sent 4 million $SYN in four tranches of 1 million directly to Wintermute’s addresses.
Cobo added another 500.6K.
Then Wintermute took 422.5K from Bitvavo and sent it to a hot wallet on Binance.
All in all, market-makers had to pull in over $4.5 million SYN to support demand.
Looks like the shortage is no longer theoretical. It’s starting to pressure the market.
