Bella Protocol (BEL), which was launched as the first project of Binance Launchpool in 2020, experienced a sudden fluctuation in its price.
According to the data, the price of the altcoin jumped from $ 0.51 to above $ 0.60 with a sudden jump of approximately 18% and is trading at $ 0.604 at the time of this writing.
The transaction carried out by DWF Labs, a market maker, before the rise in the BEL token price, attracted attention. About an hour ago, the company deposited 3.9 million BEL tokens to Binance at a price of $0.51. This amount corresponded to $2 million at the time the company invested.
The rise came after the company deposited its tokens into the stock market. If it sells at current prices, DWF Labs has now made a profit of approximately 350 thousand dollars.
However, the tokens held by DWF Labs were transferred to the company by the Bella Protocol User Development Fund about 2 hours ago. It was announced that the company had previously invested in this token. Presumably the funds were transferred in return for this investment.
*This is not investment advice.
