- Market maker DWF Labs has reportedly made a seven-fold profit through VELO so far.
- According to blockchain analysis platform Spot On Chain, DWF Labs deposited 10 million VELO into the Bybit exchange earlier today, valued at $0.021 per unit.
- DWF Labs, operating as a market maker, has invested in hundreds of crypto projects to date.
DWF Labs, a prominent market maker, has seen significant returns on its investment in VELO, highlighting the potential profitability of strategic crypto investments.
DWF Labs’ Investment in VELO
DWF Labs, a market maker in the crypto space, has reportedly made a seven-fold return on its investment in VELO. According to data shared by blockchain analysis platform Spot On Chain, DWF Labs deposited 10 million VELO into the Bybit exchange earlier today. At the time of deposit, the tokens were valued at $0.021 per unit. This investment is part of DWF Labs’ broader strategy, which has seen the firm invest in hundreds of crypto projects to date.
Previous VELO Acquisitions
DWF Labs first acquired VELO tokens on July 14, 2023, purchasing a total of 75 million tokens. At the time of acquisition, the tokens were valued at $0.003 each. To date, DWF Labs has deposited 45 million VELO into the Bybit exchange, with an average unit value of $0.0178. The firm still holds 30 million VELO, valued at approximately $611,000.
VELO’s Market Performance
According to data from TradingView, VELO has gained 7.47% in value today. This increase further underscores the potential profitability of DWF Labs’ investment strategy. As the crypto market continues to evolve, strategic investments like these could yield significant returns for market makers and investors alike.
Conclusion
DWF Labs’ investment in VELO demonstrates the potential for substantial profits in the crypto market, particularly for those with a strategic investment approach. As VELO continues to perform well in the market, DWF Labs’ investment could yield even greater returns. This case serves as a reminder of the potential rewards of strategic investing in the ever-evolving crypto market.
