There is a remarkable downward movement in the cryptocurrencies that DWF Labs invests in and purchases.
Crypto market maker and investment company DWF Labs gained popularity by flying the cryptocurrencies it handled. Crypto projects that mentioned DWF Labs experienced increases in the following days, but things suddenly turned around.
In the last few days, there have been declines in the projects in which DWF Labs has invested or purchased. In particular, LEVER lost more than 30 percent of its value.
Crypto projects handled by DWF Labs crashed
Recently, there have been strong declines in the cryptocurrencies handed over by the popular investment group and market maker DWF Labs. DWF Labs continues its rise, just like Alameda Research of the past. The team focuses more on projects with low market value. So, what is the latest situation with the cryptocurrencies held by the team?
DWF Labs and Air DAO (AMB) relationship
DWF Labs recently made one of its largest investments on Air DAO (AMB). The organization, which invested 7.5 million dollars in the Air DAO project, added nearly 25 percent of the project’s supply to its wallet. DWF Labs purchased AMB 1.5 billion from Air DAO.
DWF Labs(@DWFLabs) sent 7.5M $USDT and received 1.5B $AMB ($18.74M) in the past 1 hour.https://t.co/BjMXp00M0Zhttps://t.co/6iRoqQ1IDa pic.twitter.com/AgmhmEyAUS
— Lookonchain (@lookonchain) October 3, 2023
ECB, which rose from $0.01 to $0.01450 due to the news, fell to $0.00997 just one day later. A 45 percent rise and fall occurred one after the other. Investors followed DWF Labs and suffered serious losses in the ECB purchase.
DWF Labs and LeverFi (LEVER) relationship
Another project of DWF Labs is LeverFi (LEVER). On September 21, the company raised $2.85 million in LEVER from the LeverFi project. These tokens were sent from the project’s passive income wallet, according to Lookonchain. DWF Labs transferred the LEVERs it obtained to Binance. With the influence of the news flow, LEVER achieved an increase of nearly 70 percent.
DWF Labs(@DWFLabs) received 1.8B $LEVER($2.85M) from LeverFi: Farming Reserves Wallet just now.https://t.co/q2E7YFqnb0 pic.twitter.com/iEPSNpnLOl
— Lookonchain (@lookonchain) September 21, 2023
However, a similar graph to the ECB was also seen on the LEVER side. Just one day after the DWF Labs news, bearish bells began to ring for LEVER. LEVER crashed back as quickly as it rose.
Relationship between DWF Labs and Bluzelle (BLZ)
The next stop of the popular market maker and investment company was Bluzelle (BLZ). The company made a similar investment for Bluzelle as it did for Air DAO. According to Lookonchain data, DWF Labs received approximately $2.25 million in tokens from the Bluzelle company wallet.
Update: DWF Labs received a total of 11.46M $BLZ ($2.24M) from Bluzelle Company Wallet and deposited all 11.46M $BLZ to #Binance.https://t.co/ucZVWKlVFfhttps://t.co/1KD4aCEU4w pic.twitter.com/5eBwPtD0gu
— Lookonchain (@lookonchain) September 26, 2023
DWF Labs, which had 11.46 million BLZ as a result of its investment, quickly transferred these tokens to Binance. The groundwork for the decline scenario for BLZ was laid on September 26, when the news flow was intense.
The project suffered a major decline after DWF Labs’ relationship with BLZ came to the fore. Since September 26, BLZ has lost 31 percent of its value. While BLZ continued to be active at $ 0.1911 before DWF Labs, it is stuck in the $ 0.13 band these days.
Relationship between DWF Labs and Floki (FLOKI)
Perhaps the most exciting interaction of the market making company DWF Labs was on the Floki side. Lookonchain announced that DWF Labs received 278 thousand dollars of FLOKI from a wallet belonging to Floki. DWF Labs, which obtained 15.84 billion FLOKI, caused great excitement on September 30.
It seems that DWF Labs(@DWFLabs) received 15.84B $FLOKI($278K) from #FLOKIMultiSig and deposited it into #Binance 6 hours ago.https://t.co/DzA62a6QQE pic.twitter.com/pmunZzitEk
— Lookonchain (@lookonchain) September 30, 2023
With the relationship between DWF Labs and Floki coming to the fore, FLOKI rose by 27 percent. FLOKI, which made a big debut, managed to become the highest rising cryptocurrency among memecoins. Crypto investors expected a bull run for FLOKI. However, what happened to AMB, LEVER and BLZ also spread to FLOKI. FLOK crashed by 16 percent with the decline that started in just a few hours from the news feed.
DWF Labs and Frontier (FRONT) relationship
Perhaps the crypto project that DWF Labs treated most brutally was Frontier (FRONT). Also on September 26, Lookonchain announced that DWF Labs had withdrawn $127 thousand FRONT from Binance. With this shooting, 300 thousand dollars FRONT accumulated in DWF Labs’ wallet. The company, which has approximately 700 thousand FRONT, signaled that it is investing in the Frontier project.
FRONT, which took action when the news hit the agenda, achieved a 60 percent increase in a short time. The cryptocurrency market has struggled to evaluate DWF Labs’ relationship with Frontier. Fast and strong buying moved the FRONT price from $0.43 to $0.69.
Things progressed just like any other project, and just hours later the big collapse began for FRONT. Hours after the DWF Labs and FRONT relationship, the decline deepened and FRONT fell 56 percent from the point it reached due to the news effect.
