Leading market maker DWF Labs recently deposited a substantial portion of its ERC-20 based tokens, including the frequently mentioned JASMY, into one of the world’s leading cryptocurrency exchanges, Binance. The transfer had a massive impact on the price of JASMY, causing it to soar over 40% within 24 hours, leading to widespread speculation among crypto market enthusiasts worldwide.
DWF Labs and the JASMY Transaction
On the other hand, derivative data reflected the rise for JASMY and demonstrated the influx of liquidity into the market. The recent surge in the ERC-20 based token is attributed to several factors, closely linked to regulatory easing in Japan.
Jasmy’s recent resurgence has caught the attention of crypto market traders and investors globally, and it seems to be carving out a niche for itself as Japan’s Bitcoin.
According to data provided by Scopescan, DWF Labs transferred 380 million JASMY tokens worth $5.9 million to Binance in the last 24 hours.
Meanwhile, data from Lookonchain revealed that DWF Labs had purchased 700 million JASMY worth $3.15 million from Gate.io in June 2023.
Another notable aspect is that the massive transfer of JASMY to Binance did not have a negative impact on the recent price increase JASMY has been experiencing. During this period, derivative data also supported the mentioned uptrend.
According to data from Coinglass, there was a significant increase of 63.68% in open interest for the token and a surprising surge of 97.27% in volume. This suggests an increase in market optimism for the token.
What is the Current Price of JASMY?
As of this writing, the JASMY price has experienced a 29% increase in the last 24 hours and is currently trading at $0.017228. The token also saw an incredible rise of 189.05% over the past week, reflecting JASMY’s recent performance.
Additionally, the market value of the token increased by 29%, reaching $852.23 million. The trading volume for the last 24 hours also rose by 33%, amounting to $1.517 billion.
