Cryptocurrency analysis company Spot On Chain reported in its statement a transaction made by the controversial market maker company DWF Labs today.
According to Onchain data, DWF Labs deposited JASMY tokens worth $ 731 thousand to the cryptocurrency exchange Binance. A total of 24 million JASMY tokens were transferred to the exchange.
Notably, DWF Labs had a market maker agreement with Jasmy that was set to expire in August. On June 26 last year, DWF Labs withdrew 700 million JASMY tokens from the Gateio exchange at a price level of $0.004384. It was also interesting timing that the same amount of tokens were transferred to Gateio by the developers in the same period.
The company has continued to move these tokens to centralized exchanges over the past year. If DWF Labs is indeed selling the altcoins it has moved to centralized cryptocurrency exchanges, they have sold for an average of $0.01788 so far, meaning they have made a 308% profit on their JASMY tokens.
*This is not investment advice.
