- DWF Labs deposits 24M JASMY tokens to Binance, price $731K.
- One-year market-making contract for Jasmy expires in August.
In a transfer that received consideration out there, DWF Labs has deposited roughly 24 million JASMY tokens to the main change Binance. This was highlighted by SpotOnChain, a famend platform for on-chain analytics, on social media platform X.
In keeping with SpotOnChain, the deposited JASMY tokens equate to a worth of $731,000. Notably, DWF Labs has been working underneath a one-year market-making contract for JasmyCoin, which is ready to run out in August.
DWF Labs (@DWFLabs) simply deposited the final 24M $JASMY ($731K) to #Binance ~33 minutes in the past.
Notably, DWF Labs has a 1-year contract as an MM of @JasmyMGT that may expire in Aug:
• They withdrew 700M $JASMY from #Gateio at $0.004384 on Jun 26, 2023, proper after Jasmy Deployer… pic.twitter.com/TEJuDlWL1Z
— Spot On Chain (@spotonchain) June 25, 2024
SpotOnChain revealed that on June 26, 2023, DWF Labs withdrew 700 million JASMY tokens from Gate.io at $0.004384 per token. This withdrawal carefully adopted a deposit of the identical quantity by the Jasmy Deployer to the centralized change. Over the previous yr, DWF Labs has deposited these tokens to Binance at a median value of $0.01788, considerably growing their worth by 308%.
Strategic Strikes
In an earlier transaction on June 3, DWF Labs had deposited 97 million JASMY tokens, valued at $3.3 million, to Binance over three days. The analytics agency famous that DWF Labs systematically unloaded JASMY tokens each day throughout this era, with the latest transaction occurring simply 12 hours earlier than the report. Every deposit triggered a short-term value drop out there.
At the moment, DWF Labs held 24 million tokens, valued at $841,000, with an estimated whole revenue of $9.49 million, representing a 307% enhance.
Furthermore, on Might 31, DWF Labs made one other vital deposit of fifty million JASMY tokens, price $1.57 million, to Binance. Following this transaction, DWF Labs’ holdings amounted to 71 million JASMY tokens. It was valued at $2.24 million, with an estimated whole revenue of $9.21 million, reflecting a 298% enhance.
These strategic actions by DWF Labs underscore their energetic function within the JASMY token market. And the potential implications for the token’s value. At present, JASMY is buying and selling at $0.03008 with a 4% surge previously 24 hours. And in the identical timeline, buying and selling quantity is up 31%.
