DWF Labs, a market maker company that we have heard frequently in the cryptocurrency market lately, may have purchased the Konnect (KCT) altcoin directly from the developers, according to on-chain records.
According to the data, 6 million KCT was transferred to DWF Labs wallets in a short time. This means a transfer of $ 225,000. This amount is actually quite high for KCT, which is not listed by any major cryptocurrency exchange.
KCT is currently only listed on the HTX exchange, formerly known as Huobi.
According to data, this latest move appears to be the first time DWF Labs has interacted with KCT tokens. After the transfer, there was a sudden increase in Konnect price and at the time of writing this article, it is trading at $ 0.040.
DWF Labs is generally known for investing in previously unknown altcoins, and the cryptocurrencies it invests in experience high volatility both up and down. Similarly, the KCT price fell from its peak after the investment news to pre-news levels several times and then rose again.
The company made additional purchases from the popular memecoin FLOKI about two days ago, causing an increase in price.
*This is not investment advice.
