Whales Accumulating NEIROETH (Neiro On Ethereum): Betting on a Profitable Future

NEIROETH (Neiro On Ethereum) appears to be entering an accumulation period, according to SpotOnChain. Several large whales have raised their holdings, implying a possible shift in market sentiment.

Several large cryptocurrency whales, also known as market participants with substantial holdings, are accumulating NEIROETH (NEIRO) tokens, indicating a possible shift in market sentiment and raising questions about Binance’s future listing plans.

According to the latest on-chain data, whale 0x6ab has acquired 17.7 million NEIRO tokens at an average price of $0.086 in the last seven days. This accumulation is significant, especially considering the asset’s recent surge and seven-day growth of over 7%.

Moreover, whale 0x9Ba, while experiencing varying success with Fetch.ai (FET), has also purchased 17.5 million NEIRO tokens on Sept. 6 at a price of $0.154. This investment follows their previous substantial acquisitions.

Interestingly, whale 0xAB5 has also collected 6 million NEIRO tokens over the last month, employing a dollar-cost averaging (DCA) strategy at an average price of $0.128. This whale’s prior success with meme coins, such as PEPE, may be influencing their approach.

Furthermore, whale 0x1ED has purchased 8.6 million NEIRO tokens at an average price of $0.116, although they later liquidated a portion of their holdings without realizing a profit, resulting in a final total of 5.6 million tokens.

However, it's worth noting that their previous success with other assets, including ETHFI, SYN, and PENDLE, adds intrigue to their latest NEIRO transactions.

Among the market makers, Wintermute holds a substantial position in NEIROETH, with 52.97 million tokens, valued at approximately $4.97 million or nearly 5.3% of the total supply. This significant market maker presence highlights the growing interest in NEIROETH and raises anticipation for its potential expansion and adoption.

Currently, NEIROETH has a market cap of $91.6 million, still below the $100 million threshold, and the cryptocurrency's seven-day decentralized juncture may be shifting perspectives.

As reported by CNF, Binance has already introduced a perpetual contract for NEIROETH with leverage of up to 75x, while spot trading for the token is yet to be available at the time of writing.

At press time, NEIROETH is valued at $0.09152, experiencing a 7.37% increase in the last seven days, and its seven-day growth stands at 7.37%. With a market cap of about $91,657,038, the token's seven-day net realized P/L amounts to -$3,117,117.