Global crypto market maker DWF Labs has now granted $500,000 to AirDAO (AMB), following its substantial investment of $7.5 million. Following the news of the grant, the price of AMB rapidly increased, recording a growth of over 15%.
DWF Labs Grants $500,000 to AirDAO
Crypto market maker DWF Labs continues its investments in the cryptocurrency market. The market maker has recently granted $500,000 to AirDAO to help grow its ecosystem.
DWF Labs had announced in October 2023 that it invested a significant amount of $7.5 million in AirDAO. At that time, the price of the altcoin project had sharply increased following the announcement of the investment.
AMB’s Price Rises
On the other hand, the price of AMB responded positively to the announcement of the $500,000 grant. According to data from the crypto data and price platform CoinMarketCap, the price of the altcoin surged over 15% to $0.008099 in a short time. AMB is trading at $0.007991 at the time this article was prepared, after a slight pullback.
The fact that the trading volume did not accompany the price increase of the altcoin led to speculation that the price rise was artificial. Current data shows that AMB’s trading volume in the last 24 hours has fallen by 50.49%, despite the price increase, to a level of $6.84 million.
