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Attention to the Coin Rising by 185%: Moving to Major Market Maker Exchanges - Coin Bulletin
DWF Labs, one of the prominent players in the crypto market, transferred another 2 million Algorand (ALGO) to exchanges this morning.
According to the data shared by Lookonchain, the value of this transfer is calculated to be approximately 1.14 million dollars.
DWF Labs has moved a total of 16 million Algorand (approximately 9 million dollars) to exchanges since November 21. During this period, the price of ALGO has increased by approximately 185 percent.
It came into effect when the market was volatile
ALGO gained momentum, especially in the second half of November and managed to reach unprecedented levels since 2021. The token, which briefly dropped to $0.26 on November 26, has now risen to around $0.589.
According to CoinGecko data, ALGO's daily trading volume was 62 million dollars at the beginning of last month, and it has now reached 2.4 billion dollars.
DWF Labs operates as an investment company in the cryptocurrency sector, as well as a market maker and liquidity provider. According to the information on its website, the company's portfolio includes more than 700 projects. More than 20% of these projects constitute projects that are within the top 100 in terms of market value.