In the dynamic landscape of cryptocurrency investments, DWF Labs, a prominent market maker, remains active not only in making purchases but also in selling altcoins for profits.
Recent reports from spotonchain shed light on DWF Labs’ latest transactions involving two distinct altcoins transferred to the leading cryptocurrency exchange Binance:
– 329M JASMY ($4.88M) at $0.01483
– 1M FET ($954K) at $0.954
In the case of JASMY, DWF Labs has strategically maneuvered its holdings, realizing significant profits along the way. The journey includes withdrawals from Gate.io and subsequent deposits to Binance, culminating in both realized and unrealized profits amounting to $6.3M.
Similarly, FET transactions reflect DWF Labs’ adeptness in capitalizing on market movements, resulting in an estimated total profit of $5.22M. Withdrawals from Binance were followed by deposits, yielding substantial gains for the market maker.
DWF Labs (@DWFLabs) deposited $5.83M in 2 assets to #Binance in the past 15 hours, including:
• 329M $JASMY ($4.88M) at $0.01483.
Current holding: 271M $JASMY ($4.31M) with $6.44M in total profit.• 1M $FET ($954K) at $0.954.
Current holding: 3.05M $FET ($3.27M) with $4.55M… pic.twitter.com/OT2QBMxlPi— Spot On Chain (@spotonchain) February 22, 2024
Altcoins Price Reaction Following These Notable Investments Announcement
The recent market trends of these altcoins further underscore DWF Labs’ strategic moves. JASMY experienced a notable pump of over 150% in the past 7 days, albeit followed by an 8% decline in the past 24 hours.
On the other hand, FET has surged by over 110% in the past 30 days, with a remarkable 19% increase recorded today.
These developments not only showcase DWF Labs’ agility in navigating the cryptocurrency market but also highlight the volatility and potential profitability inherent in altcoin trading.
As DWF Labs continues to engage in strategic transactions, investors and observers remain attentive to the evolving landscape of cryptocurrency investments, where timely moves can yield substantial returns in an ever-changing market environment.
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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