Amid the resurgence of Real-World Assets (RWA) and the Tokenfi trend, DWF Labs has made a significant move by depositing 3 million TOKEN ($322K) to Gate.io at $0.107 per TOKEN.
This transaction highlights DWF Labs’ strategic engagement with the TOKEN ecosystem.
Notably, DWF Labs received 120 million TOKEN from two multisignature wallets of the Floki team on November 1, 2023, when the TOKEN price was $0.031, valuing the transfer at approximately $3.67 million.
Since then, DWF Labs has been active in the market, depositing 90.935 million TOKEN to various centralized exchanges (CEXs) such as Gate.io, Bybit, MEXC, KuCoin, and Bitfinex.
These deposits were made at an average price of $0.07 per TOKEN, translating to a total value of $6.29 million, or a remarkable 228% increase from the initial price.
Amid the return of #RWA and #Tokenfi trend, DWF Labs (@DWFLabs) deposited 3M $TOKEN ($322K) to #Gateio 15 hours ago!
They received 120M $TOKEN from the #Floki team on Nov 1, 2023, when the price was $0.031;
And so far have deposited 90.94M $TOKEN to CEXs at ~$0.07 (+228%).
DWF… pic.twitter.com/M31DvzxPHv
— Spot On Chain (@spotonchain) May 18, 2024
DWF Labs Still Holds 29.67 Million Token Worth Around $3.18 Million
Currently, DWF Labs retains 29.67 million TOKEN, valued at around $3.18 million. Despite a recent 2% decline in TOKEN’s price, the asset has experienced a 14% increase over the past seven days, reflecting a volatile yet upward trend.
DWF Labs’ strategic deposits have undoubtedly influenced TOKEN’s market performance, contributing to its recent price movements. The firm’s ability to capitalize on market trends and execute timely transactions has demonstrated its significant role in the TOKEN ecosystem.
The broader context of this activity is the renewed interest in RWA and Tokenfi, sectors that are gaining traction as investors seek diversified opportunities within the crypto market. DWF Labs’ maneuvers suggest a calculated effort to leverage these trends, positioning itself advantageously in the evolving market landscape.
As TOKEN’s price dynamics continue to unfold, market participants will closely watch DWF Labs’ next moves. Their actions not only impact TOKEN’s market performance but also provide insights into broader market strategies within the RWA and Tokenfi domains.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: pitinan/123RF // Image Effects by Colorcinch