DWF Labs had received 1.8 billion of $LEVER from LeverFi’s Farming Reserves Wallet just six hours prior. This rapid transfer of assets raises questions about DWF Labs’ intentions.
DWF Labs’ Strategic LEVER Deposit
Some suppose they are planning a strategic partnership with $LEVER, or there is another motive behind the transfer. After six hours of receiving the tokens, DWF Labs made another move, transferring the entire 1.8 billion $LEVER to Binance, effectively centralizing their holdings.
DWF Labs deposited 1.8B $LEVER($2.85M) to #Binance 30 mins ago.https://t.co/qSdw9Y6Q5p pic.twitter.com/f2fm4A323y
— Lookonchain (@lookonchain) September 21, 2023
However, the decision not to distribute the received $LEVER immediately stems from concerns about liquidity. The crypto market’s volatility could lead to panic selling, a scenario both parties aim to avoid. Caution is advised, and investors are urged not to succumb to FOMO (Fear of Missing Out). It’s prudent to use only a small amount of capital when dealing with DWF Labs during this uncertain period.
As of now, the price of LeverFi (LEVER) has surged by nearly 12% over the last 24 hours, trading at around $0.00172 on Binance.
Wintermute’s Moves
In a related update, Lookonchain reported that Wintermute has deposited 7.3 million $BLUR tokens ($1.3 million) to Kraken and Coinbase. This move follows a trend, as Wintermute has deposited a total of 46.6 million $BLUR tokens ($8.33 million) to exchanges in the past 30 days, indicating active participation in the crypto market.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
