DWF Labs has completed the transfer of the final 24 million $JASMY tokens, valued at $731,000, to Binance. This significant transaction occurred just a few hours ago, marking a major milestone in their year-long contract as a market maker (MM) for Jasmy-MGT. The contract is scheduled to conclude in August.
Over the past year, DWF Labs has been actively involved in managing $JASMY tokens. On June 26, 2023, they sold 700 million JASMY tokens on Gate.io at a rate of $0.004384 per token. This withdrawal took place immediately after the Jasmy Deployer sent an equivalent amount to the centralized exchange (CEX).
Following this withdrawal, DWF Labs strategically transferred the tokens to Binance. It is noteworthy that they were able to achieve this at an average cost per token of $0.01788, resulting in a 308% increase in the token’s value over the course of a year.
These transactions demonstrate DWF Labs’ ability to effectively handle and enhance the value of JASMY tokens in the market. Their role as a market maker has proven to be highly beneficial for the token.
As their contract is approaching its expiration in August, it will be interesting to observe how the management of $JASMY tokens will be handled. The activities carried out by DWF Labs over the last year illustrate their capacity to manage a significant number of tokens and capitalize on market opportunities.
