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- DWF Labs despatched 24 million JASMY tokens, equal to $731,000, to Binance.
- The deposit represents the final tranche of JASMY tokens held by DWF Labs from June 2023.
- DWF Labs has a one-year MM contract with Jasmy-MGT expiring in August 2024.
Spot On Chain, the AI-powered on-chain tracker, recognized a major JASMY transaction by DWF Labs. In response to Spot On Chain, DWF Labs despatched 24 million JASMY tokens, value $731,000, to a Binance pockets on June 25, 2024.
In a latest publish on X, the crypto on-chain tracker famous that the lately deposited tokens signify the final tranche of JASMY tokens held by DWF Labs from June 2023. Notably, DWF Labs has a operating one-year contract with Jasmy-MGT, the agency behind JASMY cryptocurrency, as a Market Maker (MM) that may expire in August 2024.
In the meantime, historic knowledge exhibits that the Market Maker withdrew 700 million JASMY from Gate.io on June 26, 2023, shortly after Jasmy Deployer deposited the quantity to the centralized trade (CEX). JASMY’s worth on the time of DWF Labs’ withdrawal was $0.004384.
Notably, DWF Labs has deposited the withdrawn tokens on Binance over the previous yr at a median worth of $0.01788, reflecting a 308% revenue. Spot On Chain’s knowledge exhibits that the Market Maker deposited the tokens in ten installments, with the preliminary installment of 100 million JASMY occurring in September 2023.
DWF Labs withheld the remaining tokens till February of this yr, making 4 deposits over a brief interval totaling $379 million. The Market Maker unfold the rest of the deposits between April and June 2024, starting with one other 100 million tokens deposit in April.
TradingView’s knowledge exhibits that JASMY was buying and selling for $0.3022 on the time of writing after reaching a yearly excessive of $0.04470 in Might. The altcoin surged over 1,400% between June 2023 and Might 2024 earlier than falling to its present stage in a 40% decline in lower than 4 weeks.
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