According to Arkham ($ARKM ) data
Today GSR market, the largest market maker of $ZRO, deposited $20 million worth of $ZRO tokens #Binance
As you can see from the picture above, this $ZRO comes from the address 0x11b37cA2e0ca7014653Bd0923b0A289Cc2c29616. Then after I investigated further, I found that the source of these $ZRO came from another market maker, Wintermute (1.2 M), but the source of the remaining $ZRO, which was about 4 M, was unknown.
Usually if the project party wants to accumulate tokens, it will transfer the tokens from the exchange to the wallet on the chain, and if it wants to sell the tokens, it will transfer the tokens to the centralized exchange.
(Because the liquidity of centralized exchanges is usually better)
But because this $ZRO involves two market makers, I think even if they want to sell directly, they will not use such a blatant method.
I think they may also be observing the trend of the market. If the market continues to rise, they may pull in the market and then sell. If the market weakens, they may sell outright.
