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The incredible decline in cryptocurrency prices continues to unsettle investors. Yesterday, the price fell below $70,000 and today it failed to reclaim that level, dropping below $67,000. A clear drop in ETH price was also observed following the Dencun upgrade, with the price falling below the $3,700 level. Perhaps looking to turn these declines into an opportunity, DWF Labs made a purchase just moments ago.
DWF Labs’ $5 Million Acquisition
In recent days, DWF Labs was in the spotlight for making million-dollar purchases in various projects. These acquisitions continue even as the market experiences a clear downturn. This could be interpreted as DWF turning the crisis into an opportunity.
In this context, according to news that emerged just moments ago, DWF Labs made a BEAM purchase. The acquisition was worth $5 million. Following this news, there was significant volatility in the price of BEAM.
What is BEAM’s Current Price?
As of writing, the BEAM price has seen significant fluctuations. After the purchase, BEAM, if you will, plummeted. BEAM initially dropped from $0.039 to $0.034 within minutes but then recovered.
BEAM then rose again above $0.038. After this price movement, the price fell once more, and as of writing, it has decreased by 8% to $0.36527.
During this period, BEAM’s market capitalization fell back to $1.9 billion, dropping below the $2 billion threshold. On the other hand, there was a 121% increase in BEAM’s 24-hour trading volume. Following this increase, the volume surpassed $84 million.
Current Situation with Bitcoin
Looking at the latest developments in the market, the decline in Bitcoin continues. The BTC price is trading at $67,680 following a 5% decrease in the last 24 hours.
In addition, BTC‘s market capitalization has also fallen below $1.4 trillion, which was noted as a critical threshold. BTC’s 24-hour trading volume has increased by 90% during this period, reaching $83 billion.
This situation brings discussions that investors who invested in the past and want to make a profit today are making aggressive sales, thereby increasing the market volume. What price point will be reached in the coming days is a matter of curiosity.
