DWFLabs, a global digital asset market maker and web3 investment firm, recently transferred 2 million Curve DAO Tokens (CRV) to Binance.
The transaction took place two hours ago when the average price of the CRV was $0.5, and the total value of the transfer was recorded at approximately $1 million.
The move comes after DWFLabs purchased 12.5 million CRVs at a price of $0.4 per token from the Curve founder on August 1.
DWFLabs currently holds 10.5 million CRVs in its wallet and may deposit more tokens on Binance or other exchanges in the future. However, users should take into account that DWFLabs has an aggressive market-making style and their deposits may result in a volatile change in the CRV price.
The wallet, in which the company, which uses many different crypto wallets for transactions, dumped its CRV tokens to Binance, was also largely reset with the last transaction. At the time of this writing, the wallet only contains Frontier (FRONT) tokens worth approximately $60,000.
On July 31, a hacking attack occurred on the Curve Finance platform, and the Curve Finance founder was in danger of liquidation due to the depreciation of the CRV token.
*Not investment advice.