Market Maker DWF Labs Dumped Almost All Of This Altcoin It Bought A Year Ago To Binance At A Loss

When onchain data is examined, it is seen that DWF Labs, one of the most well-known and at the same time most controversial market maker companies in the cryptocurrency market, has carried out some interesting transactions.

In transactions made in recent hours, 10.5 million $CRV worth $3.48 million was sent to Binance from the company's over-the-counter (OTC) Curve Finance ($CRV) address, which has not been monitored for nearly a year.

This move was interpreted as the company preparing to sell $CRV tokens obtained via OTC. With the emergence of a major crisis on Curve Finance in August 2023, $CRV founder Michael Egorov sold $CRV to 33 institutions and investors via the OTC method at a price of $ 0.40. A total of 159.4 million tokens were sold, of which 12.5 million were purchased by DWF Labs.

If DWF Labs had sold its other tokens, it would have lost $717,000 from the trade. At the time of writing, it is trading at $0.327.

*This is not investment advice.