Transfers of an altcoin by giant market maker DWF Labs to South Korean cryptocurrency exchanges triggered a 32% rise in price.
In posts shared on Twitter by the on-chain analytics platform Lookonchain, the market maker DWF Labs’ Orbs (ORBS) He included the moves he made specifically.
The first thing that was shared in the posts was that DWF Labs is one of the largest cryptocurrency exchanges in South Korea. Coinonewithin 2 days to 48 thousand dollars worth 1.9 million ORB It was stated that he deposited In the meantime, DWF Labs has 138 million ORBS of $3.48 million It was stated that it was.
However, continuing operations DWF Labs, then another South Korean cryptocurrency exchange $1.3 million to Bithumb worth 50 million ORBS He deposited more.
These transactions are carried out as market maker duty of DWF Labs. provide liquidity It brought to mind that it might have been done for this purpose. However, DWF Labs has access to many altcoins. by investing It may also lead to an increase or decrease in price.
According to CoinGecko data, ORBS, after transfers 32% from $0.02505 with rise to $0.03300 reached up to. ORBS, at the time of writing from $0.0316 is being traded.