Cryptocurrency platform Lookonchain stated that the major market maker DWF Labs sent some altcoins in its hands to exchanges and warned investors about the price change in these altcoins in case of a possible sale.
After this share of Lookonchain, the head of DWF Labs Andrei Grachev made a statement about altcoin transfers.
The head of DWF Labs said that altcoin transfers are not for sale, but for CEX oversight amid current regulatory pressure.
Adding that selling is stupid in the current market, Grachev stated that they are preparing for a bull rally.
“We are moving part of our portfolio to cex custody.
Not for selling, not for asking for liquidity. Because it would be foolish to sell anything at current market levels.
We're ready to rise and we're getting ready for a bull run (sooner or later)."
Just moving a part of our treasury from on chain to cex custody. Not for selling and not for ask liquidity. It would be stupid to sell anything on the current market levels
We are bullish and preparing to a bull run (sooner or later)
LFG🚀#mm #crypto https://t.co/k8FIPt3i3N— Andrei Grachev (@ag_dwf) June 12, 2023
Quoting this post by Lookonchain de Grachev, "DWF Labs president Andrei Grachev tweeted that these altcoin transfers have been transferred to CEX for further surveillance. And they are on the rise and are preparing for a bull run." said.
Andrei Grachev (@ag_dwf, the head of @DWFLabs) tweeted that these altcoins were transferred to CEX for custody.
And they are bullish and preparing for a bull run 🚀!https://t.co/r1ORp7FTjP pic.twitter.com/sEdkPOrOcQ
— Lookonchain (@lookonchain) June 12, 2023
*Not investment advice.
