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Top Wall Street proprietary trading firm Jump Trading holds these cryptocurrencies! The total value exceeds $100 million.

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Top Wall Street proprietary trading firm Jump Trading holds these cryptocurrencies! The total value exceeds $100 million.

The globally renowned high-frequency trading team Jump Trading, in addition to being active in global futures, options, cryptocurrency, and stock markets, has also acquired a significant amount of cryptocurrency assets. According to address data identified by the Ethereum data analytics company Nansen, Jump Trading holds over 10 different cryptocurrencies, with a total value of at least $100 million.

Jump Trading's Ethereum and DeFi Assets

Jump Trading is a leading high-frequency trading team in traditional financial markets. The company, with over 700 employees in New York, Chicago, London, Shanghai, and Singapore, is active in global futures, options, cryptocurrency, and stock markets. Apart from high-frequency trading and arbitrage through algorithms, Jump Trading also has its own asset management department and has ventured into the cryptocurrency field.

Many are curious about what cryptocurrencies a top team in the financial sector holds. Nansen, a data analytics company focused on Ethereum, identified Jump Trading's wallet address through market information and on-chain data. After Nansen's research results were shared by Messari analyst Mason Nystrom on Twitter yesterday, it was found that the Jump Trading wallet address holds various Ethereum-based cryptocurrencies.

According to the data from the wallet address, Jump Trading holds at least $75 million worth of cryptocurrencies, including Ethereum (ETH), Compound (COMP), Keep Network (KEEP), HXRO, Numeraire (NMR), Orchid Protocol (OXT), Maker (MKR), HuobiToken (HT), Chainlink (Link), and Band Protocol (Band), with most investments related to DeFi.

Additionally, according to previous information released by Alameda Research, Jump Trading is also an early investor in their decentralized exchange Serum, holding over 40 million SRM in the wallet, currently valued at around $32 million. Furthermore, many market participants speculate that due to the company's focus on the cryptocurrency market, it may hold a significant amount of undisclosed Bitcoin.

Intriguing On-Chain Trading Records

The on-chain trading records from that address somewhat reveal the motives behind Jump Trading's holdings. For instance, the holding period of Keep tokens has exceeded two months, with most coming from Keep Network's multisig wallet, indicating that Jump Trading may be an early investor in Keep Network. Additionally, in the past month, Jump Trading has been continuously purchasing COMP and SNX from exchanges like Binance and Huobi, possibly taking advantage of the recent downturn in DeFi tokens to establish long-term investments.

Moreover, many projects in their portfolio can provide profit opportunities for market makers. For Jump Trading, investing in these projects is like creating a happy farm for themselves, enabling them to gain long-term cash flow.

Institutional Entry Could Trigger a Bubble

Although institutional funds flowing into DeFi is positive for the long-term development of the sector, it could also have some adverse effects. Analyst Qiao Wang points out that Silicon Valley will apply its past practices to these asset and technology paradigm shifts and potentially create a bubble in DeFi:

"Looks like Silicon Valley has finally discovered DeFi. They are always a step behind the people within the cryptocurrency space, be it BTC, ETH, or DeFi. If history is any guide to reality, they will hype it massively over the next few years and create a huge bubble within it."