DWF Labs recently deposited the last 24 million $JASMY tokens, worth $731,000, to Binance. This transaction took place a few hours ago. It marks a significant milestone in their one-year contract as a market maker (MM) for Jasmy-MGT. It is set to expire in August.
DWF Labs Transfers JASMY to Binance at $0.01788 Average Price
In the past year, DWF Labs has been regularly involved in the management of $JASMY tokens. On June 26, 2023, they sold 700 million JASMY tokens on Gate.io at a rate of $0.004384 per token. This withdrawal occurred immediately after the Jasmy Deployer sent an equivalent amount to the centralized exchange (CEX).
DWF Labs (@DWFLabs) just deposited the last 24M $JASMY ($731K) to #Binance ~33 mins ago.Notably, DWF Labs has a 1-year contract as an MM of @JasmyMGT that will expire in Aug:• They withdrew 700M $JASMY from #Gateio at $0.004384 on Jun 26, 2023, right after Jasmy Deployer… pic.twitter.com/TEJuDlWL1Z
— Spot On Chain (@spotonchain) June 25, 2024
After this withdrawal, DWF Labs strategically transferred these tokens to Binance. Notably, they were able to achieve that at an average cost per token of $0.01788, which saw the value of the token rise by 308% in a year.
DWF’s Deposit Enhances The Market Performance of $JASMY
This series of transactions shows that DWF Labs is effective at handling and boosting the value of JASMY tokens. It is quite clear that their role as a market maker has been quite advantageous to the token in the market.
As their contract is set to expire in August, it will be worth observing how the management of $JASMY tokens will be arranged. The activities conducted by DWF Labs in the last year show that they can deal with a significant number of tokens and seize the opportunities in the market.