Investors were eagerly anticipating the cryptocurrency Lista’s listing on Binance today. The listing has just occurred, and the price reached a peak of $0.81. However, the actions of the renowned market maker, DWF Labs, concerning Lista have raised concerns among investors. Let’s delve into DWF Labs’ actions.
DWF Labs’ Move on Lista
The recent listing of LISTA on multiple exchanges resulted in a price of $0.81, a significant figure for this cryptocurrency. However, DWF Labs, identified as a market maker (MM) for LISTA DAO, made a move that has caught our attention. Lookonchain provided us with a report on this move. For the latest financial and business news, visit COINTURK FINANCE.
According to the report, DWF Labs made a substantial token purchase from the project just two days before the listing. They acquired 10 million LISTA tokens. Following this acquisition, DWF Labs initiated a series of transfers to various centralized exchanges (CEXs) in order to prepare the market for the expected trading activity.
Which Exchanges Received Lista from DWF Labs
The distribution of tokens by DWF Labs to different exchanges is as follows:
– 2.5 million LISTA tokens to Bitget.
– 2 million tokens to Binance.
– 1.5 million tokens to MEXC.
– 1,000 tokens to Gate.io.
– 1,000 tokens to KuCoin.
These transfers by DWF Labs have raised some questions. The exact price at which DWF Labs acquired these tokens remains unclear. It is highly likely that Lista was purchased at a low price, and now that it will be sold on exchanges, DWF Labs stands to make substantial profits.
While some comments suggest that this move may help mitigate potential price fluctuations, I must admit that I do not agree with these viewpoints. Moreover, one must question why the tokens were sent to multiple listed exchanges instead of just one. Regardless of the outcome, the significant transfer of Lista to exchanges will serve as a factor that may prevent price increases in the event of sales. If only DWF Labs would disclose the price at which they acquired these tokens, we could observe the impact on transparency. Oh, apologies, trade secrets do exist, don’t they?
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Disclaimer:
The information in this article should not be considered investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research.
