Cumberland Accumulates PONS, Buying $6.55 Million in a Week
JOON HYOUNG LEE
Summary
- Crypto market maker Cumberland was reported to have bought PONS every day over the past week.
- A wallet linked to Cumberland withdrew about 8.5 million PONS from Gate over the past week, worth about $6.55 million.
- Crypto market maker Wintermute has also recently made large-scale purchases of PONS, and was analyzed as possibly having taken on market making for the token.
Forecast Trend Report by Period
Crypto market maker Cumberland has been accumulating PONS.
Lookonchain said on Sept. 10 that a wallet linked to Cumberland bought PONS every day over the past week.
The wallet also withdrew about 8.5 million PONS from crypto exchange Gate during that period, worth about $6.55 million.
Crypto market maker Wintermute has also recently made large purchases of PONS. Blockchain analytics firm Arkham said Wintermute may have been responsible for market making in PONS.
PONS is a token issuance platform built on Robinhood Chain.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul