Crypto NewsAltcoinBinance-Listed Bella Protocol (BEL) Token Makes a Sudden Spike! Is DWF Labs...

Binance-Listed Bella Protocol (BEL) Token Makes a Sudden Spike! Is DWF Labs Involved?

A sudden upward wave has begun in the price of Bella Protocol (BEL), an altcoin listed on Binance. So what's the reason?

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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.

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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.

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