DWFLabs has just completed the sale of their final 24 million $JASMY tokens, marking the end of their contract with Jasmy, which was set to conclude in August of this year.
This significant move hints at the possibility of Jasmy engaging a new market maker soon.
#jasmy @DWFLabs just cleared out their final 24M $jasmy
If I remember correctly, their contract with @JasmyMGT was supposed to end in August of this year, so it’s possible that Jasmy works with a new market maker soon. pic.twitter.com/6UnaFoKtlh
— DipMehtaVerse (@DipMehtaVerse) June 25, 2024
Earlier this year, DWFLabs executed a notable transaction involving $JASMY tokens. On June 26, 2023, they withdrew 700 million $JASMY from Gateio at a price of $0.004384.
This withdrawal came immediately after the Jasmy Deployer deposited the same amount into the centralized exchange. Over the past year, DWFLabs strategically deposited these tokens into Binance at an average price of $0.01788, realizing a remarkable 308% gain.
DWF Labs (@DWFLabs) just deposited the last 24M $JASMY ($731K) to #Binance ~33 mins ago.
Notably, DWF Labs has a 1-year contract as an MM of @JasmyMGT that will expire in Aug:
• They withdrew 700M $JASMY from #Gateio at $0.004384 on Jun 26, 2023, right after Jasmy Deployer… pic.twitter.com/TEJuDlWL1Z
— Spot On Chain (@spotonchain) June 25, 2024
Market makers like DWFLabs play a pivotal role in the cryptocurrency ecosystem, providing essential liquidity and stability. Their recent trades in $JASMY underscore this influence. By facilitating smoother transactions and reducing price volatility, market makers ensure a more reliable trading environment for investors.
The completion of DWFLabs’ contract with Jasmy and their final $JASMY trade signals a potential shift in the token’s market dynamics. With DWFLabs no longer in the picture, Jasmy might seek out a new market maker to continue ensuring liquidity and market stability. This transition could bring new opportunities and strategies for $JASMY trading, influencing its future price movements and market behavior.
Investors and traders will be keenly watching for any announcements from Jasmy regarding a new market maker. The expertise and strategies of the incoming market maker will be crucial in maintaining the momentum and stability that DWFLabs has provided over the past year.
As the market adjusts to these changes, the role of market makers in the crypto space remains as critical as ever, highlighting their impact on trading environments and investor confidence.
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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