We are living in days where Bitcoin and altcoins are turning green. Every development in the cryptocurrency market now has a distinct importance. Because from this point on, a newly developing process will directly affect the price of cryptocurrencies. This situation will inevitably attract the attention of investors. Today’s important development came from DWF Labs.
DWF Labs Purchased 2.5 Million AXL Tokens on the Ethereum Network
DWF Labs, a famous market maker in the cryptocurrency world, made a strategic move. Accordingly, it recently purchased 2.5 million AXL tokens worth $1.98 million on the Ethereum Network.
This significant transaction, which took place just 18 hours ago, underscores the increasing interest in Axelar’s potential in the crypto world. This interest in the cryptocurrency is a reason for the price to increase. As of writing, the AXL price is trading at approximately $0.80.
Axelar Entered Upbit Exchange
As we mentioned in previous days, there was another turning point for Axelar. Accordingly, the South Korean exchange Upbit officially listed AXL in the BTC market on December 7. This move not only increases Axelar‘s visibility, but also positions it for increased liquidity and trading opportunities.
This strategic listing on a leading exchange like Upbit is preparing to increase Axelar’s presence in the market and attract a wider crypto enthusiast and investor audience. As the Decentralized Finance (DeFi) space continues to develop, Axelar’s inclusion in Upbit’s BTC market indicates that its value and utility in the Blockchain ecosystem is increasingly recognized.
In conclusion, DWF Labs’ purchase of altcoin AXL is noteworthy in terms of demonstrating the presence of significant players in the cryptocurrency market. On the other hand, the move indicates that expectations for the project’s future are high, which is extremely important for the development of the altcoin.
In the beginning of the bull season in the cryptocurrency market, making positions according to the news of altcoin purchases is sometimes a situation preferred by the investor. At this point, it is useful to take note of DWF Labs’ move to add altcoin to its portfolio.