DWF Labs, a leading market maker in the cryptocurrency space, has once again made headlines with its ongoing investments in altcoin projects. The latest addition to their portfolio is WAGMI, as announced recently. On the other hand, LUNC started to rise with the news of the burning. Here are the details…
Altcoin WAGMI received investment from DWF Labs
Famous market maker DWF Labs added WAGMI to its portfolio. This move attracted particular attention after Spotonchain, a well-known cryptocurrency platform, shared details of the acquisition. The impact was immediate, with WAGMI experiencing a significant 54% increase in its price, according to CoinMarketCap data. In a recent announcement, DWF Labs announced its strategic investment in altcoin WAGMI. The company made a significant acquisition by purchasing 26.6 million WAGMI tokens at a price of $0.01879. Total investment reached 500,000 USDT. This underlined DWF Labs’ confidence in the potential of this particular cryptocurrency.
Spotonchain, the reputable cryptocurrency platform, immediately shared the news on social media, highlighting the details of DWF Labs’ latest move. Spotonchain’s accompanying tweet stated:
@DWFLabs spent 500k USDT 15 minutes ago to buy 26.6 million WAGMI at $0.0188.
Binance performed LUNC burning
In a separate development, Binance, the world’s largest cryptocurrency exchange, has implemented the 17th batch of the LUNC burning mechanism. A staggering 5.57 billion Terra Luna Classic (LUNC) tokens were sent to the burn address, marking another step in the ongoing efforts to reduce the token supply. This brings the total LUNC tokens burned by Binance to over 49 billion, representing 53% of the total tokens burned by the Terra Luna Classic community.
The latest LUNC burn has had a positive impact on the Terra Classic ecosystem; Both LUNC and USTC prices experienced a significant increase. Following the burn, LUNC and USTC prices increased by over 7%, giving a bullish signal at the beginning of the year. The momentum in LUNC and USTC prices continued after Binance’s recent burn. The 17th batch, covering the period between November 30 and December 30, contributed to the general positive atmosphere in the market. The price of LUNC is currently trading at $0.000145, up 8% in the last 24 hours. Meanwhile, USTC remained at $0.0337, up 7%. Investors are advised to be wary of potential pullbacks in prices, considering the recent rise and the possibility of profit booking in the coming days.
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