Emerging as an active investor in the bear market, DWF Labs has started to fill the Binance wallet. On-chain data has revealed million-dollar transactions completed in the past hours.
DWF Labs replenishes Binance wallet
DWFLabs’ strategic transfer of 14.49 million CRVs fuels market volatility and speculation. According to reports, the company transferred 12.49 million CRVs worth about $6.25 million yesterday. Today, he deposited the extra 2 million CRV into his Binance wallet. What is impressive is that DWFLabs still has 10.49 million CRVs. This means more CRVs potentially flowing into exchanges.
cryptocoin.com As we reported, Curve Finance was subjected to a serious hacking attempt at the end of July. After the events, founder Michael Egorov’s futures positions were at risk of liquidation. At that time, Binance and DWF Labs were among the names that bought CRVs to provide liquidity to Egorov. Recent transactions indicate that the company is now cashing in some of its CRVs.
How about the CRV price?
DWF Labs raised 12.5 million CRVs from Curve’s founder on August 1. They purchased each of these at a unit price of $0.4. Its current assets are 10.5 million CRVs with further deposit potential. While there is no sale transaction from the company yet, the CRV price is up 1.5%. Meanwhile, one of the reasons for its momentum was the $5 million investment that Binance exchange announced last week…
Binance extended a helping hand to Curve Finance and its team shortly after the hacking attempt. This news triggered a double-digit rally in CRV price.
What has changed for Curve since Binance support?
DWFLabs’ recent transactions not only create market volatility, but also lead to significant changes in the CRV ecosystem. TRON DAO Ventures accelerated this process by purchasing CRV tokens for $2 million. As a result of this transaction, Curve will be launched for use on TRON and BTTC networks, thus expanding the token’s domain. This step is being implemented as part of a strategic collaboration. Support from giants like Binance helps keep CRV afloat.
We’re excited to announce we've invested in @Helio_Money🎉
Helio Protocol combines over-collateralized, decentralized stablecoin lending and borrowing on BNB Chain with multi-chain StaaS and LSDfi services through its Synclub offerings.https://t.co/EnyUgbBVKW
— Binance Labs Fund (@BinanceLabs) August 11, 2023
Curve is known for its second-largest DEX and specifically stablecoin-focused AMMs. This platform stands out as the best option, especially for stablecoin transactions. As the crypto ecosystem evolves, DWFLabs’ meticulous strategies and collaborations clearly demonstrate the complexity of market dynamics. In this rapid change, market participants are closely watching the actions of DWFLabs. Meanwhile, DWFLabs emerged as an active investor during the 2022 bear market. He had already released millions from his Binance wallet.
