DWF Labs, a prominent market maker and institutional investor in the cryptocurrency sphere, has disclosed impressive gains exceeding $8 million from trading JasmyCoin (JASMY) since June 2023.

This revelation comes amidst a volatile market environment, with cryptocurrencies experiencing fluctuations in value.

According to data sourced from Spotonchain, DWF Labs recently deposited 100 million JASMY tokens, valued at $2.44 million, onto the Binance exchange at a price of $0.0244, just before a significant price downturn occurred. Despite this temporary setback, DWF Labs’ overall profit from JASMY trading remains substantial.

DWF Labs (@DWFLabs) deposited 100M $JASMY ($2.43M) to #Binance just now.

Currently, DWF Labs still holds 121M #JASMY ($2.96M) and has an estimated total profit of $8.35M (+270%) from the token!

Follow @spotonchain and set alerts for DWF Labs now via https://t.co/0uIXTBBfWv pic.twitter.com/Z20VuVhw9B

— Spot On Chain (@spotonchain) April 12, 2024

The journey to $8 million in gains for DWF Labs has been characterized by strategic moves and calculated decisions. Notable transactions include the withdrawal of 700 million JASMY tokens from Gate.io, yielding $3.09 million, and subsequent deposits totaling 579 million JASMY tokens onto Binance at an average price of $0.01465. These deposits, executed on various dates between September 2023 and April 2024, have generated a remarkable profit of $5.93 million, marking a significant increase of 232%.

DWF Labs Still Holds 121 Million JASMY Token

As of the latest update, DWF Labs retains a holding of 121 million JASMY tokens, valued at $2.96 million, with an additional $2.43 million in unrealized profit. Despite recent market volatility, DWF Labs’ strategic positioning and astute trading decisions have contributed to its impressive performance in the JASMY market.

However, it’s worth noting that JasmyCoin (JASMY) experienced a 20% decline in value over the past 24 hours, with its current trading price standing at $0.0193. This underscores the inherent volatility of the cryptocurrency market and the importance of risk management strategies for investors and traders alike.

Overall, DWF Labs’ success in navigating the complexities of the cryptocurrency market serves as a testament to its expertise and proficiency in the field of digital asset trading.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: loft39studio/123RF// Image Effects by Colorcinch

---

Filed under: Bitcoin - @ April 15, 2024 2:05 am