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Summary

DWF Labs makes a significant deposit of 24 million JASMY tokens to Binance, valued at $731,000, as their one-year market-making contract for JasmyCoin nears expiration in August.

Introduction

In a notable move, DWF Labs has transferred 24 million JASMY tokens to Binance, attracting market attention and highlighting their involvement in the token market. This action was brought to light by SpotOnChain, a prominent on-chain analytics platform, on social media.

Main Points

SpotOnChain reported that the value of the deposited JASMY tokens amounts to $731,000. DWF Labs, operating under a one-year market-making contract for JasmyCoin, withdrew 700 million JASMY tokens from Gate.io on June 26, 2023, at a token price of $0.004384, subsequently enhancing their value by 308% through deposits to Binance at an average price of $0.01788.

Further strategic moves by DWF Labs involved depositing 97 million JASMY tokens over three days, leading to short-term price fluctuations in the market. Their deliberate token unloading strategy resulted in a 307% increase in profits. Additionally, a deposit of 50 million JASMY tokens on May 31, valued at $1.57 million, contributed to a total profit increase of 298%.

Conclusion

DWF Labs’ calculated maneuvers in the JASMY token market have positioned them as key players, influencing token prices and generating substantial profits. With JASMY currently trading at $0.03008 and showing a 4% surge in the past 24 hours, DWF Labs’ activities continue to impact market dynamics significantly.

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