In a series of recent tweets, Lookonchain has reported significant transactions by DWF Labs, a prominent Web3 investment firm, involving the ORBS cryptocurrency. These transactions indicate DWF Labs’ growing involvement and commitment to the Orbs ecosystem, reflecting the broader momentum of the blockchain industry.
Lookonchain’s latest tweet, posted today, stated, “DWF Labs deposited another 30 million ORBS ($1.25 million) to Bithumb and currently has 11 million ORBS ($467,000) left.” This follows DWF Labs’ deposit of 50 million ORBS ($1.3 million) to Bithumb on October 13, as reported by Lookonchain in a prior tweet.
Furthermore, on the same day, Lookonchain tweeted, “DWF Labs deposited 800,000 ORBS ($21,000) to Coinone again 15 minutes ago and has deposited 1.9 million ORBS ($48,000) to Coinone in the past 2 days. Currently, DWF Labs holds 138 million ORBS ($3.48 million).”
What’s Driving the Ongoing Deposits?
The ORBS cryptocurrency, currently trading at $0.04417, has seen significant price fluctuations in the past week. It is down 17.48% in the last 24 hours but has surged by 73.30% in the past 7 days and 104.45% in the last 30 days, indicating strong market interest and investment activities.
The reason behind these deposits by DWF Labs can be attributed to the firm’s strategic positioning within the Orbs ecosystem and its broader commitment to the blockchain industry. DWF Labs first entered the Orbs ecosystem seven months ago through a significant token purchase of up to $10 million, signaling its dedication to the project and the potential it sees in the blockchain space.
DWF Labs is widely recognized as one of the most significant supporters of the emerging The Open Network (TON) ecosystem. Orbs, as an active participant in the TON ecosystem, has also invested in TON projects, emphasizing its commitment to fostering innovations within the TON network. The deposits made by DWF Labs not only reinforce its growing interest in ORBS but also align with its broader mission to support and develop Web3 technologies.
As blockchain and decentralized technologies continue to evolve, DWF Labs’ commitment signifies the industry’s promise and the potential impact of Web3 technologies on future financial systems and innovations. These strategic deposits are indicative of DWF Labs’ belief in the Orbs ecosystem and its overarching goal to support and drive innovation within the blockchain space, ultimately contributing to the growth and development of the Web3 landscape.
