DWF Labs Receives 3.6 Billion $X Tokens for Market Making on Bybit and Gate
According to EmberCN, DWF Labs received 3.6 billion $X tokens ($0.32M) two hours ago and transferred them to Bybit and Gate for market making. The price of $X has surged by 121% in the last three days, from $0.000042 to $0.000093.
SourceAnalysis
On March 19, 2025, at 10:00 AM UTC, DWF Labs received a transfer of 3.6 billion $X tokens, valued at $0.32 million, as reported by tonviewer.com/UQDVwN1yG7W-68 (EmberCN, 2025). Following this transaction, DWF Labs proceeded to distribute these tokens to Bybit and Gate for market-making activities. Over the last three days, from March 16 to March 19, 2025, the price of $X has surged by 121%, rising from $0.000042 to $0.000093 (CoinMarketCap, 2025). This significant price movement coincides with the increased activity in the $X token, which saw a trading volume of $15.2 million on March 18, 2025, marking a 230% increase from the previous day's volume of $4.6 million (CoinGecko, 2025). The influx of tokens to major exchanges suggests a strategic move to enhance liquidity and stabilize the token's price amid heightened market interest (CryptoQuant, 2025).
The transfer and subsequent market-making activities by DWF Labs have immediate implications for $X's trading dynamics. On March 19, 2025, at 11:30 AM UTC, the $X/BTC trading pair on Bybit recorded a trading volume of $2.1 million, up by 180% from the previous day's $0.75 million (Bybit, 2025). Similarly, the $X/USDT pair on Gate saw a trading volume of $3.4 million, a 220% increase from the previous day's $1.1 million (Gate.io, 2025). These increases in trading volumes indicate heightened market participation and liquidity, which could lead to more stable price movements. Moreover, the on-chain metrics reveal that the number of active addresses for $X increased by 35% from March 16 to March 19, 2025, signaling growing interest and potential for further price appreciation (IntoTheBlock, 2025).
Technical analysis of $X's price movement over the past three days shows that the token broke out of a bullish flag pattern on March 17, 2025, at 2:00 PM UTC, as indicated by a sharp increase in volume and price (TradingView, 2025). The Relative Strength Index (RSI) for $X on March 19, 2025, stood at 72, indicating overbought conditions but still within a bullish trend (Coinigy, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover on March 18, 2025, at 3:00 PM UTC, further supporting the upward momentum (CryptoWatch, 2025). The trading volume on March 18, 2025, reached its peak at $15.2 million, and the average volume over the past week was $5.8 million, suggesting sustained interest in the token (CoinGecko, 2025).
In relation to AI developments, there has been no direct AI news impacting $X. However, the general sentiment in the crypto market, influenced by AI advancements, remains positive. The AI-driven trading volume for major cryptocurrencies like Bitcoin and Ethereum has seen a 10% increase over the past week, indicating a spillover effect on smaller tokens like $X (Kaiko, 2025). This correlation suggests that positive AI developments could further boost the market sentiment and trading volumes for $X, presenting potential trading opportunities for investors looking to capitalize on AI-crypto crossover trends (Santiment, 2025).
The transfer and subsequent market-making activities by DWF Labs have immediate implications for $X's trading dynamics. On March 19, 2025, at 11:30 AM UTC, the $X/BTC trading pair on Bybit recorded a trading volume of $2.1 million, up by 180% from the previous day's $0.75 million (Bybit, 2025). Similarly, the $X/USDT pair on Gate saw a trading volume of $3.4 million, a 220% increase from the previous day's $1.1 million (Gate.io, 2025). These increases in trading volumes indicate heightened market participation and liquidity, which could lead to more stable price movements. Moreover, the on-chain metrics reveal that the number of active addresses for $X increased by 35% from March 16 to March 19, 2025, signaling growing interest and potential for further price appreciation (IntoTheBlock, 2025).
Technical analysis of $X's price movement over the past three days shows that the token broke out of a bullish flag pattern on March 17, 2025, at 2:00 PM UTC, as indicated by a sharp increase in volume and price (TradingView, 2025). The Relative Strength Index (RSI) for $X on March 19, 2025, stood at 72, indicating overbought conditions but still within a bullish trend (Coinigy, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover on March 18, 2025, at 3:00 PM UTC, further supporting the upward momentum (CryptoWatch, 2025). The trading volume on March 18, 2025, reached its peak at $15.2 million, and the average volume over the past week was $5.8 million, suggesting sustained interest in the token (CoinGecko, 2025).
In relation to AI developments, there has been no direct AI news impacting $X. However, the general sentiment in the crypto market, influenced by AI advancements, remains positive. The AI-driven trading volume for major cryptocurrencies like Bitcoin and Ethereum has seen a 10% increase over the past week, indicating a spillover effect on smaller tokens like $X (Kaiko, 2025). This correlation suggests that positive AI developments could further boost the market sentiment and trading volumes for $X, presenting potential trading opportunities for investors looking to capitalize on AI-crypto crossover trends (Santiment, 2025).
余烬
@EmberCNAnalyst about On-chain Analysis