DWF transferred 2.5 million AXL to the suspected Axelar team address, equivalent to approximately $1.11 million

On March 1st, as reported by Arkham Monitor, the DWF Labs address was labeled as "Suspected Axelar Network" two days ago and received a transfer of 2.5 million AXL, which is approximately equivalent to $1.11 million. Based on the transfer records, it is hypothesized that the two parties may have reached a market-making cooperation plan, and the actual situation requires waiting for updates from the DWF Labs and Axelar Network teams. According to on-chain data, DWF Labs previously received 2.5 million AXL on December 9, 2023, with a value of $1.93 million. The observational data on March 1, 2024, showed that DWF Labs held a total of 5 million AXL, which was approximately valued at $12 million at that time. On May 6, 2024, DWF's liquidity market launched Axelar (AXL), and on October 12 of the same year, DWF Labs deposited 500,000 AXL into Binance, with a value of around $420,000 at that time. As of the time of writing, AXL is currently trading at $0.4093, with a 2.92% increase in the last 24 hours, a 16.50% decrease in the last 7 days, a 21.87% decrease in the last 30 days, and a 58.28% decrease in the last 90 days.