DWF Labs, a prominent player in the cryptocurrency market-making sphere, continues to draw industry attention with its ongoing investments in altcoins.
The latest development from DWF Labs involves a significant 7-figure strategic investment in the cryptocurrency Altcoin, PROM, signaling confidence and interest in the project’s potential.
We are thrilled to announce our latest strategic 7-figure investment in @prom_io 🚀
This partnership marks a significant milestone, as we join forces with Prom, a pioneer in the Web3 gaming sector.
Together, we're set to revolutionise the gaming world, combining Prom's… pic.twitter.com/EfGH9Gbe11
— DWF Labs (@DWFLabs) February 21, 2024
The investment initiative saw DWF Labs allocate 1 million USDT to acquire 111,000 PROM tokens at a price of $9. This strategic move follows a recent investment by Andrei Grachev, the head of DWF Labs, who purchased 49,965 PROM tokens at $10 on February 14, with an investment totaling 500,000 USDT.
The market response to Grachev’s investment was immediate, with the PROM price surging by 75% shortly after.
DWF Labs (@DWFLabs) spent 1M $USDT to buy 111K $PROM at ~$9 just now.
Notably, the head of DWF Labs, Andrei Grachev (@ag_dwf) also spent 500K $USDT to buy 49,965 $PROM at ~$10 on Feb 14.
The $PROM price used to surge by 75% after his investment.
Follow @spotonchain and turn… pic.twitter.com/ltmgMlFzGl
— Spot On Chain (@spotonchain) February 21, 2024
Today, the price of PROM experienced a notable spike of 38% within the past hour, reflecting the positive sentiment surrounding DWF Labs’ strategic investment in the altcoin.
The surge in price underscores the market’s confidence in the potential of PROM and its collaborative partnership with DWF Labs.
DWF Labs Collaboration With PROM Spans Beyond Just Financial Investment
According to statements from DWF Labs, the collaboration with PROM goes beyond mere financial investment; it represents a fusion of expertise aimed at redefining standards within the Web3 gaming space.
The partnership aims to revolutionize the gaming industry by leveraging Prom’s innovative gaming solutions alongside DWF Labs’ extensive experience and knowledge in digital assets.
The strategic investment in PROM by DWF Labs reflects a broader trend of increased interest and investment activity in alternative cryptocurrencies.
As investors and industry players recognize the transformative potential of projects like PROM, the cryptocurrency landscape continues to evolve, driven by innovation and strategic partnerships.
In summary, DWF Labs’ investment in PROM signals a vote of confidence in the project’s vision and potential for growth.
As the collaboration between DWF Labs and PROM progresses, the gaming and cryptocurrency communities eagerly anticipate the transformative impact of their partnership on the Web3 gaming ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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