Crypto News– The transaction was executed at an average rate of US$1.17 per GAL token, marking it as a substantial and well-timed transfer.
DWF Labs Initiates Transfer: Transfer of 1 Million GAL Tokens to Binance Started After Galxe Price Rally
This transfer coincides with a notable upswing in GAL token prices within the last 24 hours. GAL has demonstrated an impressive surge of more than 10%, presently valued at approximately US$1.25 per coin. This price rally has garnered considerable attention within the cryptocurrency community, intensifying the intrigue surrounding DWF Labs’ transfer.
It’s essential to highlight that DWF Labs had previously received a substantial allocation of 2 million GAL tokens from the Galxe Treasury on May 4, 2023, valued at an impressive $3.38 million at the time. Subsequently, on June 29, DWF Labs strategically opted to deposit the entirety of these funds into the Binance exchange, aligning their actions with the current dynamics of the cryptocurrency market.
The rationale behind DWF Labs’ recent transfer and its correlation with the surging GAL token price remains a topic of speculation and fascination among cryptocurrency enthusiasts. Such strategic maneuvers by prominent players in the cryptocurrency realm frequently exert a cascading impact on market sentiment and trends