Controversial Company DWF Labs Buys This Altcoin, Price Increases More Than 90 Percent
Cryptocurrency company DWF Labs has made a large purchase of a surprise altcoin, according to onchain data.
DWF Labs, perhaps one of the most controversial market-making companies in the cryptocurrency world, seems to have added a new altcoin to its portfolio, and interestingly, this token is in the memecoin class.
According to information from Onchain data, DWF Labs recently collected $654,000 worth of Hamster Kombat (HMSTR) tokens from various cryptocurrency exchanges.
Following this action by DWF Labs, the HMSTR price has indeed seen an impressive rally, rising by over 90% in the last 24 hours. As of this writing, the HMSTR price is trading at $0.005764.
At the time of writing, DWF Labs has approximately $15 million in assets in its cryptocurrency wallets, which has seen a $500,000 increase in the past 24 hours thanks to the market rally. The company’s top altcoins include DEXE at $2.60 million, GALA at $2.01 million, and AXL at $1.87 million.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Matrixport Included Developments That Will Affect Bitcoin in December in Its Weekly Report! Here Are the Details
Matrixport's latest weekly report highlights a number of positive factors that have underpinned Bitcoin's recent strong performance.
Trump's Inflow Wave Has Ended! Spot Bitcoin and Ethereum ETFs Experience First Outflows Since Election!
It ended a wave of inflows and outflows in spot Bitcoin and Ethereum ETFs that has been ongoing since Donald Trump was elected president on November 5.
The Scoop: Anti-crypto bias may have cost Democrats the election
A growing base of single-issue crypto voters have become frustrated by Democrats’ general opposition to the industry.This column is adapted from The Scoop newsletter.
Manhattan prosecutors plan to scale back crypto cases