- NEIRO surged 65.86% this week, attracting whales like GSR Markets, which now holds 40.4M NEIRO (4.04% of supply).
- Despite some whales taking profits, NEIRO’s market potential remains strong, with technicals signaling further upside.
- NEIRO’s small market cap on derivatives platforms offers an accessible entry but carries speculative risks for investors.
Despite general market volatility, NEIRO (NEIRO on Ethereum) has demonstrated resiliency, rising in value by 6.16% over the past day. With a market capitalization of $122,270,888 and a $77,072,481 24-hour trading volume, NEIRO’s ascent has drawn interest from both whales and investors. This momentum suggests that NEIRO could experience further upside, especially as market participants take note of its potential.
Whale Activity Signals Accumulation
Whales have played a crucial role in driving NEIRO’s recent performance. For instance, GSR Markets now holds 40.4 million NEIRO, accounting for 4.04% of the total supply. Moreover, Smart trader 0xe9f recently purchased 8.45 million NEIRO after selling $1 million worth of OM and ATH.
Additionally, bwecapital.eth accumulated 4.065 million NEIRO, representing 0.4% of the circulating supply. These transactions indicate a growing interest from large players, further fueling the token’s upward trajectory.
On the flip side, some whales have taken profits. A notable example is the entity with a $145 million profit from SHIB, which sold all 17.5 million NEIRO at a 55% loss just before the pump. However, this does not appear to have dampened NEIRO’s overall bullish momentum, as technical indicators remain positive.
NEIRO’s Market Potential and Risks
Besides its accumulation phase, NEIRO’s presence on derivative trading platforms such as Binance perp and Bybit perp has enhanced its accessibility. With a market cap of $73 million in these derivatives markets, NEIRO remains one of the smaller-cap meme coins, offering traders a more accessible entry point.
However, this lower valuation also opens the door to market manipulation, as noted by trader Vida. He emphasized the speculative nature of NEIRO and warned against copying trades without conducting proper research.
Nevertheless, NEIRO’s low market cap, combined with growing community engagement, presents a unique opportunity for speculative investors. While risks remain, particularly in a highly volatile market, NEIRO’s recent performance and whale activity suggest that the token is well-positioned for further growth. Investors should remain cautious, but NEIRO’s future potential remains compelling.
The post NEIRO Gains Traction as Whales Accumulate Amid Market Uncertainty appeared first on Crypto News Land.
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