In the past 24 hours, $AXL has seen a remarkable 42% price increase, further fueled by a significant deposit from DWF Labs.

Just three hours ago, DWF Labs transferred 500,000 $AXL (valued at $420,000) to Binance, catching the attention of market observers. Despite this deposit, DWF Labs still holds a substantial 2.5 million $AXL, currently worth around $2.1 million.

🚨 $AXL increased 42% in the past 24 hours, and DWF Labs just deposited 500K $AXL ($420K) to #Binance.

The transfer was made 3 hours ago, and DWF Labs still holds 2.5M $AXL (~$2.1M).

DWF Labs received those tokens 8 months ago at an average price of $1.12.

Follow @spotonchain… pic.twitter.com/CXM40MF9iJ

— Spot On Chain (@spotonchain) October 12, 2024

DWF Labs initially received these tokens eight months ago at an average price of $1.12 per $AXL. Since then, they have been actively involved in significant token movements.

In a notable transaction, they sent 2 million $AXL (valued at $1.28 million) to an address linked to the Axelar project and subsequently to a burn address.

Interestingly, eight months ago, they received 2.5 million $AXL (worth approximately $2.95 million at the time) from a burn address, a transfer that has raised curiosity within the crypto community.

In the past hour, DWF Labs (@DWFLabs) deposited 1M $FET ($1.43M) and 500K $AXL ($382K) into #Binance, likely for sale.

17 days ago, they deposited another 1M $FET, worth $1.6M, after receiving 10M $FET from @Fetch_ai. They still hold 8M $FET valued at $11.49M.

They also sent 2M… pic.twitter.com/0aQVkkTMtK

— Onchain Lens (@OnchainLens) October 12, 2024

DWF Labs Still Holds 2.5 Million $AXL Tokens

Following the recent deposit to Binance, DWF Labs still retains 2.5 million $AXL tokens, currently valued at around $1.9 million due to the recent price surge.

Their involvement in such large-scale token transfers, including burning and re-acquiring tokens, has sparked speculation regarding their role in $AXL’s market dynamics.

With $AXL continuing its upward momentum, these moves by DWF Labs have undoubtedly contributed to the token’s increasing attention.

As the price climbs and major players like DWF Labs make strategic moves, the future of $AXL in the market is becoming a topic of keen interest for traders and investors alike.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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