The major market maker taking advantage of the declines in the cryptocurrency market, poured 454 million dollars into exchanges.
The cryptocurrency market maker Cumberland continues to respond to declines with purchases. According to data provided by the on-chain analysis platform Lookonchain, Cumberland rushed to the Tether treasury during the recent declines of the past 1 week.
Cumberland withdrew a total of 454 million USDT from the Tether treasury and transferred all of these assets to cryptocurrency exchanges Binance, Coinbase, OKX and Kraken.
This move of the market maker was interpreted as a preparation process for buying declines. The purchases made by the market maker also gave hope to cryptocurrency investors for the continuation of the uptrend.
The cryptocurrency market experienced significant declines on April 19th due to the recent tensions between Iran and Israel, and Bitcoin had dropped to 60,000 dollars.
