JASMY Price Dips On Massive Dumping By Crypto Firm
JasmyCoin's price dipped after DWF Labs' massive dumping of tokens, highlighting the volatility and profit-taking activities that influence its market performance
JasmyCoin has caught the attention of investors with a remarkable surge of over 100% in the past 30 days. However, this rapid increase has also led to significant profit-taking activities in the crypto market. According to recent reports, a major crypto market maker, DWF Labs, has been unloading large amounts of JASMY tokens, resulting in a notable dip in its price
JASMY Price Dips Amid Massive Dump
According to SpotOnChain, an on-chain transaction tracking platform, DWF Labs has deposited 97 million JASMY, worth $3.3 million, into Binance over the past three days. Notably, the report highlights that DWF Labs has been selling JASMY daily during this period, with the last transaction occurring today.
Besides, the report also showed that each deposit was followed by a short-term price drop, indicating the impact of these large-scale transactions on the market. Currently, DWF Labs holds 24 million JASMY, valued at approximately $841,000.
However, despite the recent sell-off, DWF Labs has managed to secure a substantial profit. Their total profit from these transactions is estimated at $9.49 million, representing a remarkable 307% return on investment (ROI).
Meanwhile, this activity by DWF Labs has sparked a wave of profit-taking among other investors, contributing to the downward pressure on JASMY’s price. The market is now closely watching the actions of large holders, as their transactions can significantly influence price movements in the short term