Cryptocurrency Investment Company, Taking Loss for the First Time, Moves All of Its Altcoins to Binance

DWF Labs, a well-known market maker in the cryptocurrency market, has reportedly deposited all BEAM altcoins to Binance.

DWF Labs moved all of its assets worth 130.8 million BEAM ($4.31 million) to the stock market at $0.03296.

Interestingly, just a week ago, on March 15, 2024, DWF Labs had withdrawn these BEAM tokens from Binance at an average price of $0.03631 ($4.75 million). If the firm’s transfer transactions were indeed trades, the company would suffer an estimated loss of $439,000, a decline of 9.23%. This marks the first loss for DWF Labs following the market rally in February.

In other news, a supposed investor known as with the short address 0x6c0 continued to deposit MKR tokens to Binance. In the last deposit, 2,000 MKR ($6.52 million) was deposited to Binance at a price of $3,261 per token. Over the last three days, the wallet deposited a total of 5,500 MKR to Binance, for an average of $3,213 ($17.7 million) per token.

Between December 21, 2018 and December 6, 2023, the wallet purchased a total of MKR 7,496 ($9.63 million) from four unidentified wallets at an average price of $1,285. Three of these wallets redeemed their old MKR tokens for new ones through the “MakerDAO: Redeemer” contract, and the old MKR tokens were claimed from MakerDAO in 2016.

*This is not investment advice.

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