DWF Labs, a prominent cryptocurrency market maker and Web3 investor, has recently made a significant move by depositing 3 million TOKEN coins to Gate.io, according to on-chain analytics provider SpotOnChain. The platform made this decision in light of the growing trend of RWA and Tokenfi. SpotOnChain took to its official account to provide insights into this development.
The deposit was made approximately fifteen hours ago, as pointed out by the analytics platform. SpotOnChain mentioned that DWF Labs made this move after considering the overall market situation. The firm highlighted the progress being made by other players, such as Tokenfi and RWA, and DWF Labs intends to capitalize on current market trends.
According to SpotOnChain, the value of the deposited tokens is approximately $322K. Additionally, DWF Labs acquired a substantial amount of TOKEN coins back in November of last year. The team behind the popular meme token Floki Inu provided DWF Labs with 120 million TOKEN coins at that time. The token was reportedly valued at around $0.031.
Furthermore, DWF Labs has deposited nearly 90.94 million TOKEN coins to centralized exchanges, with an average value of $0.07, as reported by SpotOnChain. This represents a significant increase of over 228 percent.
SpotOnChain also revealed that DWF Labs currently holds approximately 29.67 million TOKEN coins, which amounts to a total value of $3.18 million.