TL;DR
- DWF Labs moves $5.83 million worth of JASMY and FET to Binance, capitalizing on their recent price surges and earning over $11.5 million in profits.
- JASMYcoin continues to rally despite whale activity, showing a 96% increase in value over the last week and a 123% rise over the past month, boosted by derivatives data and Japan’s relaxed crypto regulations.
- DWF Labs showcases its financial prowess and strategic objectives, effectively managing withdrawals and deposits across different platforms, with a focus on Binance, and benefiting from the impressive market performance of both assets.
DWF Labs moved $5.83 million worth of assets to Binance. This substantial movement of assets has raised questions within the crypto community about DWF Labs’ strategic objectives. The transaction involved two primary assets: 329 million JASMY, valued at $4.88 million, and 1 million FET, amounting to $954,000. The deposit originates from the address linked to DWF Labs.
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
JASMYcoin has shown a significant increase in value, with a rise of 96% over the last week and an impressive 123% over the past month. DWF Labs has successfully capitalized on this trend, accruing a profit margin of approximately $6.3 million. This substantial gain was the result of a strategic series of transactions, which involved the withdrawal of 700 million JASMY from the cryptocurrency exchange Gate.io, and subsequent deposits into Binance.
Interestingly, the substantial transfer of JASMY to Binance did not hinder the recent price rally of JASMY. In the meantime, the derivatives data pointed towards a continued uptrend. Data from Coinglass revealed a significant 63.68% increase in the token’s open interest, coupled with a remarkable 97.27% rise in volume. This appears to have boosted market confidence in the token.
Following Japan’s relaxation of crypto and Web3 investments for Venture Capitals (VCs), the upward trend seems to have further substantiated its legitimacy. The increased whale activity around JASMY also seems to support this surge. In line with the data mentioned above, the so-called Japanese Bitcoin has observed considerable gains within the wider crypto market.
DWF Labs Benefits from JASMY and FET Market Performance
In a similar vein, DWF Labs has also seen significant gains with FET, recording profits of around $5.22 million. This was achieved through a carefully planned withdrawal from Binance, followed by strategic redeposits into the same platform.
DWF Labs has showcased its proficiency in navigating the cryptocurrency market by effectively managing withdrawals and deposits across different platforms, with a particular focus on Binance. The company’s strategic movements of assets have culminated in considerable profits, surpassing $11.5 million across both JASMY and FET.
This move underscores DWF Labs’ financial prowess and highlights significant financial movements. It also reflects the impressive market performance of both assets.
Nonetheless, it’s crucial to underscore that the content provided in this article is intended solely for informational and educational objectives. It should not be interpreted as financial counsel or any form of advice. Readers are urged to proceed with caution before making any decisions about the company.
