LeverFi (LEVER), which announced on September 26 that it had received a $2 million investment by DWF Labs, a controversial market maker, suffered a major decline after the developers transferred large tokens to Binance.
Following the transfer of 3.3 billion LEVER ($6.36 million) by LeverFi Farming Reserves to DWF Labs, the LEVER token price increased by more than 100%. In today's development, LeverFi Farming Reserves again transferred 1.14 billion LEVER (1.95 million dollars) to Binance and 60 million LEVER (103 thousand dollars) to ByBit.
Following these transfers, the price of the token entered a sudden downward trend and at the time of writing this article, it dropped by 33% during the day. LEVER price is currently trading at $0.001683.
LeverFi defines itself as a leveraged trading platform built on Ethereum and serves DeFi users.
DWF Labs, on the other hand, is accused of market manipulation by other market makers in the cryptocurrency market. However, DWF Labs CEO denies the allegations.
*This is not investment advice.
