According to a report by Odaily, DWF Labs has recently encountered significant challenges following the disclosure of its secondary market wallet addresses. Over the past month, the firm executed investments totaling approximately $6.43 million across seven different altcoins, having transferred these assets from major exchanges. Of these seven projects, six are currently in a loss position while only one is profitable, resulting in an aggregate unrealized loss of around $850,000, equivalent to a decline of roughly 13 percent.
A detailed breakdown reveals that DWF Labs acquired 51.15 million JST tokens at a total cost of about $1.89 million, averaging $0.037 per token. Additionally, 5 million MANTA tokens were purchased for approximately $1.54 million at an average price of $0.309 each. The firm also bought 4.73 million YGG tokens at a cost near $1.02 million, with an average price of $0.216 per token. IOST holdings stand at 137 million tokens acquired for $480,000, averaging $0.0035 each. Furthermore, 21.28 million IOTX tokens were acquired at a total cost of $440,000, averaging $0.021 per token. The portfolio includes 3 million SIREN tokens purchased for roughly $540,000 at an average of $0.18 per token, and finally, 3.5 million PHA tokens obtained for about $480,000, averaging $0.139 per token.
These figures indicate a mixed performance among DWF Labs’ recent altcoin investments, with the majority of assets currently depreciating in value. While one project remains in profit, the overall financial position reflects a notable loss. This scenario presents a considerable challenge for DWF Labs, particularly given their strategy of moving substantial cryptocurrency volumes off central exchanges to invest directly in these tokens. The situation underscores the inherent volatility and uncertainty within the altcoin market, which continues to pose significant risks for investors engaged in this space.
Source: binance
