GSR Markets, a leading crypto trading firm and liquidity provider, has recently acquired a significant amount of WLD tokens from various crypto exchanges using iris scanning devices to create a global identity and financial network. According to on-chain data, GSR Markets has withdrawn tens of thousands of WLD tokens from crypto exchanges.
Spot On Chain, a blockchain data analytics platform, reported that GSR Markets recently withdrew 675,000 WLD tokens from crypto exchanges Bybit and Gate.io. This purchase of 675,000 WLD tokens is the latest in a series of acquisitions totaling 1.69 million WLD tokens valued at $2.57 million in the past seven days.
Currently, GSR Markets holds approximately 10.36 million WLD tokens worth $16.07 million, making it one of the largest WLD holders in the market.
GSR Markets’ accumulation of WLD tokens indicates several potential possibilities. The first possibility is that GSR Markets has a positive long-term expectation for Worldcoin and believes in its vision of creating a more inclusive and democratic digital economy. By acquiring WLD tokens, GSR Markets may be preparing for future high customer demand for accessing the Worldcoin network or trading WLD.
Another possibility is that the crypto trading firm and liquidity provider is diversifying its portfolio to protect against potential market volatility or regulatory uncertainties in the crypto market.
The effects of GSR Markets’ accumulation of WLD tokens can extend beyond the company’s interests and impact the price and liquidity of the altcoin for WLD investors.
As GSR Markets continues to acquire more WLD tokens, the circulating supply may decrease, and if demand remains stable or increases, the price of the altcoin may rise. Additionally, GSR Markets can increase liquidity by providing OTC trading or market-making services for WLD, benefiting other traders and investors looking to buy or sell.