Crypto NewsAltcoinCryptocurrency Investment Company, Taking Loss for the First Time, Moves All of...

Cryptocurrency Investment Company, Taking Loss for the First Time, Moves All of Its Altcoins to Binance

According to on-chain data, cryptocurrency market maker company DWF Labs made a loss for the first time and moved its altcoins to the stock market.

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DWF Labs, a well-known market maker in the cryptocurrency market, has reportedly deposited all BEAM altcoins to Binance.

DWF Labs moved all of its assets worth 130.8 million BEAM ($4.31 million) to the stock market at $0.03296.

Interestingly, just a week ago, on March 15, 2024, DWF Labs had withdrawn these BEAM tokens from Binance at an average price of $0.03631 ($4.75 million). If the firm's transfer transactions were indeed trades, the company would suffer an estimated loss of $439,000, a decline of 9.23%. This marks the first loss for DWF Labs following the market rally in February.

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In other news, a supposed investor known as with the short address 0x6c0 continued to deposit MKR tokens to Binance. In the last deposit, 2,000 MKR ($6.52 million) was deposited to Binance at a price of $3,261 per token. Over the last three days, the wallet deposited a total of 5,500 MKR to Binance, for an average of $3,213 ($17.7 million) per token.

Between December 21, 2018 and December 6, 2023, the wallet purchased a total of MKR 7,496 ($9.63 million) from four unidentified wallets at an average price of $1,285. Three of these wallets redeemed their old MKR tokens for new ones through the “MakerDAO: Redeemer” contract, and the old MKR tokens were claimed from MakerDAO in 2016.

*This is not investment advice.

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