GSR Deposits 7 Million WCT into Binance for Market Making

GSR Markets deposited 7 million WalletConnect Tokens (WCT), valued at $3.46 million, into Binance today for market-making activities, enhancing liquidity. GSR and Flow Traders each hold 7.5 million WCT, representing 8% of the initial circulating supply of WalletConnect Tokens, ensuring stability and liquidity in the market.

GSR Markets, a global leader in crypto trading, deposited 7 million WCT ($3.46 million) into Binance, marking a strategic step in enhancing the token’s liquidity. The action ensures liquidity and aids in price stabilization during WalletConnect's new market phase. Community reactions are positive, with Crypto analyst Ai 姨 noting GSR's substantial inventory management as pivotal for early stability.

GSR Strengthens WCT Market with $3.46 Million Deposit

GSR Markets: 7.5 million $WCT market-making tokens—2.8 million already deposited into exchanges. Flow Traders: 7.5 million $WCT—currently testing small transfers to exchanges. Together, these allocations comprise 8% of the initial circulating supply.

As per CoinMarketCap data, WalletConnect Token (WCT) trades at $0.39, down 8.49% over the last 24 hours. With a market cap of $72,440,885 and a trading volume of $323,344,910, the WCT market remains influential in liquidity provision. These figures illustrate the ongoing adjustments and real-time trading dynamics for this token.

"GSR Markets: 7.5 million $WCT market-making tokens—2.8 million already deposited into exchanges. Flow Traders: 7.5 million $WCT—currently testing small transfers to exchanges. Together, these allocations comprise 8% of the initial circulating supply." — Ai 姨, Crypto Analyst

8% WCT Liquidity Allocation Stabilizes Market Dynamics

Did you know? The combined market-making allocation of GSR and Flow Traders for WCT represents 8% of its initial liquidity, a figure that historically aids in reducing slippage and achieving more stable price discovery.

Insights from Coincu suggest that with the strong backing of seasoned entities like GSR and Flow Traders, WCT’s initial price volatility is likely curtailed. Their involvement strengthens confidence in liquidity, supporting a robust trading framework.

Insights from Coincu suggest that with the strong backing of seasoned entities like GSR and Flow Traders, WCT’s initial price volatility is likely curtailed. Their involvement strengthens confidence in liquidity, supporting a robust trading framework.