DWF Labs, a global digital asset market maker and multi-stage Web3 investment firm, has deposited 3 million FET (Fetch.ai tokens) into the Bitget exchange as per Spot on Chain. This move marks the company’s first activity in past five months.
Overview of FET Token Activity
The deposit, valued at approximately $1.82 million, follows a previous transfer of 10 million FET from the Fetch.ai foundation on September 3, 2024, when the token was priced at $1.85.
With this transaction, DWF Labs has deposited 5 million FET across Binance and Bitget in totality, with an average acquisition price of $0.987 per token.
There is a decline of 16.7% from their initial investment price. Currently DWF Labs still holds 5 million FET tokens, which are valued around $3.04 million, indicating a strong portfolio despite recent market fluctuations.
The FET token has experienced volatility with a reported drop of 5% in value over the last 24 hours following DWF’s deposit. At press time, the price of the token stands at $0.6054 with a dip of 4.8% according to CoinGecko.
About DWF Labs
DWF Labs has been an active player in the crypto industry and the company has invested $40 million in Fetch.ai to support advancements in autonomous agents and decentralized machine learning technologies. As the AI sector continues to expand and influence crypto markets, DWF Labs’ strategic moves are being closely monitored by investors and analysts as well.
The company has been established in 2018, and as mentioned above the company is a global digital asset firm and Web3 investment leader known for its market-making prowess and strategic investments. They actively support crypto projects through liquidity solutions, venture capital, and trading services.
DWF Labs’ focus spans through DeFi, AI, GameFi, and memecoins, with key initiatives like launching a synthetic stablecoin and supporting AI agent development on various platforms. Their actions significantly influence market trends and promote growth within the crypto ecosystem.
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