DWF Labs, a prominent player in the world of cryptocurrency market making and Web3 investment, has recently made a significant move that has caught the attention of on-chain analytics provider SpotOnChain. The platform has deposited a substantial amount of 3 million TOKEN coins into Gate.io, as reported by SpotOnChain on their official X account.
In light of the resurgence of #RWA and #Tokenfi trends, DWF Labs (@DWFLabs) made the bold decision to deposit 3 million $TOKEN ($322K) into #Gateio just fifteen hours ago. This comes after receiving a generous amount of 120 million $TOKEN from the #Floki team back on November 1, 2023, when the token was valued at $0.031. Since then, DWF Labs has continued to deposit a total of 90.94 million $TOKEN to various centralized exchanges at an average price of around $0.07, marking an impressive increase of 228%.
SpotOnChain highlighted the fact that DWF Labs now holds a total of 29.67 million TOKEN coins, which translates to a whopping $3.18 million in value. The analytics firm emphasized the strategic nature of DWF Labs’ move, considering the current market trends and the progress made by other key players in the industry such as Tokenfi and RWA. By committing such a significant amount of TOKEN coins to Gate.io, DWF Labs has demonstrated its commitment to capitalizing on the evolving landscape of the cryptocurrency market.