Investors today were eagerly awaiting the listing of the cryptocurrency Lista on Binance. The listing just took place, and the price peaked at $0.81. However, movements by the famous market maker DWF Labs regarding Lista have caused concern among investors. Let’s look at DWF Labs’ actions.
DWF Labs’ Move on Lista
The recent listing of LISTA on multiple exchanges resulted in a price tag of $0.81. This is a significant figure for the cryptocurrency. On the other hand, DWF Labs, identified as a market maker (MM) for LISTA DAO, made a move. Lookonchain reported this move to us.
According to the report, DWF Labs made a significant token purchase from the project two days before the listing. DWF Labs acquired 10 million LISTA tokens. Following this acquisition, DWF Labs initiated a series of transfers to various centralized exchanges (CEXs) to prepare the market for the anticipated trading activity.
Which Exchanges Received Lista from DWF Labs
The distribution of tokens by DWF Labs to different exchanges was as follows:
- 2.5 million LISTA tokens to Bitget,
- 2 million to Binance,
- 1.5 million to MEXC,
- 000 to Gate.io,
- 000 to KuCoin.
It is necessary to mention that these transfers by DWF Labs raised some questions for me. The exact price at which DWF Labs acquired these tokens is not clear. Most likely, Lista was bought at a low price, and now that it will be sold on exchanges, DWF Labs will make significant profits.
While some comments suggest that this move might help reduce potential price fluctuations, I honestly do not agree with these views. Additionally, one must ask why the tokens were sent to different listed exchanges instead of just one. Regardless of the outcome, the significant transfer of Lista to exchanges stands as a factor that will prevent price increases in case of sales. If only DWF Labs disclosed the price at which they bought these tokens, we could see the reflections of transparency. Oh, pardon me, there is such a concept as trade secrets, isn’t there?
