DWF Labs, a leading cryptocurrency market maker and Web3 investor, has recently made a significant move by depositing 3 million TOKEN coins into the Gate.io platform. This news was reported by SpotOnChain, a well-known on-chain analytics provider, on its official X account.
The deposit of 3 million TOKEN coins to Gate.io by DWF Labs took place approximately fifteen hours ago. SpotOnChain highlighted that DWF Labs made this move after considering the current market situation. The analytics firm noted that other players in the industry, such as Tokenfi and RWA, are making significant progress, and DWF Labs aims to capitalize on the prevailing market trends.
According to SpotOnChain, the value of the deposited tokens amounts to $322,000. Additionally, the company disclosed that DWF Labs received a substantial amount of TOKEN coins from Floki Inu, a prominent meme token, back in November 2023. At that time, the price of the token was around $0.031. Since then, DWF Labs has deposited approximately 90.94 million TOKEN coins to centralized exchanges, with an average value of $0.07.
SpotOnChain further revealed that this cumulative deposit represents a remarkable increase of over 228 percent. Currently, DWF Labs holds a total of 29.67 million TOKEN coins, which is equivalent to $3.18 million.
