DWF Labs Deposits 3 Million $TOKEN to Gate.io amid Tokenfi and RWA’s Return

An advanced cryptocurrency market maker and Web3 investor, DWF Labs, has recently made a significant move. As per a well-known on-chain analytics provider SpotOnChain, the platform has deposited up to 3 million TOKEN coins to Gate.io. The analytics provider took to its official X account to provide insights concerning the respective development.

Amid the return of #RWA and #Tokenfi trend, DWF Labs (@DWFLabs) deposited 3M $TOKEN ($322K) to #Gateio 15 hours ago!

They received 120M $TOKEN from the #Floki team on Nov 1, 2023, when the price was $0.031;

And so far have deposited 90.94M $TOKEN to CEXs at ~$0.07 (+228%).

DWF… pic.twitter.com/M31DvzxPHv

— Spot On Chain (@spotonchain) May 18, 2024

DWF Labs Commits 3 Million TOKEN Coins to Gate.io as Tokenfi and RWA Return

According to SpotOnChain, the respective move took place nearly fifteen hours back. The analytics platform pointed out that the DWF Labs made this move while taking into account the overall market scenario. The analytics firm mentioned that the other players such as Tokenfi as well as RWA are making substantial progress. Keeping that in view, DWF Labs has an intention to leverage current market trends.

According to the analytics provider, the number of tokens that DWF Labs deposited equals up to $322K. In addition to this, the company also revealed that DWF Labs obtained a huge amount of the TOKEN coins back in November last year. It added that the team of the prominent meme token Floki Inu provided up to 120 million TOKEN coins to DWF Labs.

At that time, the token was reportedly changing hands at approximately $0.031. Up till now, the DWF Labs has reportedly deposited almost 90.94 million TOKEN coins to centralized exchanges. Spot On Chain says that the coins have been deposited at an average value of up to $0.07.

The Platform Holds 29.67 Million TOKEN Coins

The analytics company brought to the front that this figure shows a remarkable increase in percentage. It added that this indicates a rise of more than 228 percent cumulatively. Moreover, SpotOnChain asserted that the DWF Labs presently holds nearly 29.67 million TOKEN coins. This amount equals $3.18 million in total.