Rumors that market maker DWF Labs may have invested in the decentralized finance (DeFi) protocol Linear Finance (LINA) were enough to raise the price.
Reported by on-chain analysis platform Lookonchain to data According to Linear Finance and DWF Labs Millions of dollars of cryptocurrency transfer happened.
Linear Finance team 24 October taking action on the day $1.2 million worth 124.8 million LINA transferred it to a new address.
Only the shipment made from the address belonging to the Linear Finance team 10 minutes then DWF Labs to Linear Finance 1 million dollars transferred. Following this latest transaction, it was claimed that Linear Finance’s transfer may be linked to DWF Labs.
Lookonchain, Linear Finance 124.8 million LINA The new wallet he sent Owned by market maker DWF Labs He was among those who suggested that it might happen.
Market commentators have criticized this process as DWF Labs’ 1 million dollar LINA investment While commenting as follows, it was stated that such investments could have a positive impact on the projects.
With the realization of these transactions, the LINA price increased in a short time. %12rose more than . In the past periods wintermute And DWF Labs In cryptocurrencies invested by market makers such as serious increases had been seen. For this reason, even the possibility of DWF Labs investing was enough for the rise.
However, there has been no official statement regarding the investment yet.
live in 12.70% with increase $0.00942 from level to $0.01062 Reached by LINA, at the time of writing from $0.0098 is being traded.