Artificial Superintelligence Alliance

<p>In a significant move within the cryptocurrency market, DWF Labs, a market maker for Fetch.ai ($FET), has made notable transfers of $FET tokens. According to on-chain analyst <a href="https://x.com/ai_9684xtpa/status/1849477093161382168" rel="noopener noreferrer nofollow">&#64;ai_9684xtpa</a>, DWF Labs transferred 2 million $FET tokens—worth $2.68 million—to Binance just 2 hours ago.</p><h3 id="dwf-labs-injects-4-million-fet">DWF Labs Injects 4 Million $FET</h3><p>As a key player in managing $FET liquidity, DWF Labs received 6 million tokens from the Fetch.ai project on October 16. Over the past week, it has transferred a total of 4 million of these tokens to exchanges, valued at $5.56 million. The last deposit was recorded on October 16, when DWF Labs deposited 2 million $FET tokens worth $2.88 million to Binance.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/5ea5760a41e44cba8287189291d3539d.png" /><p>Source: Arkham</p><p>Currently, the address associated with these transactions, &#34;0x676E4C48fd2a0cAD89724aAbf754b3Fa8e2CCb30,&#34; holds 2 million tokens, valued at $2.66 million, as per <a href="https://platform.arkhamintelligence.com/explorer/address/0x676E4C48fd2a0cAD89724aAbf754b3Fa8e2CCb30" rel="noopener noreferrer nofollow">Arkham Intelligence</a> data.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a5c06eec587a40f998fc98ed73a9ca42.png" /><p>Source: Arkham</p><h3 id="impact-on-liquidity-and-price">Impact on Liquidity and Price</h3><p>Market makers like DWF Labs are responsible for providing liquidity to exchanges, ensuring smooth trading by buying and selling tokens. These transfers to Binance are likely intended to maintain liquidity or facilitate trading, which can impact $FET’s price and trading volume.</p><h3 id="price-movements-of-fet">Price Movements of $FET</h3><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e74588e9dc534b6e94f5f26ae60576a4.png" /><p>Source: Coinmarkectap</p><p>Despite these large transfers, there hasn’t been a major change in $FET’s price over the last week, with the token down by 1.79%. However, it has risen by 2.62% today, currently trading at $1.32 with a market cap of $3.36 billion.</p><p><strong>Disclaimer</strong>: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.</p><p><strong>Also Read: </strong><a href="https://coinsprobe.com/celestia-gearing-up-for-major-token-unlock-of-over-1b-bullish-or-bearish-ahead/" rel="noopener noreferrer nofollow">Celestia Gearing Up For Major Token Unlock of Over $1B: Bullish or Bearish Ahead?</a></p>

DWF Labs Injects 4 Million $FET into Exchange Markets in One Week

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