Giant Market Maker Purchased from Meme Coin on the Ethereum Network!

Giant market maker DWF Labs has invested hundreds of thousands of dollars in Ethereum (ETH) based meme coin. DWF Labs continues to invest in meme coins in the first days of the new year.


According to data reported by on-chain analysis platform Lookonchain, the giant market maker, which took action on January 2, invested $ 807,000 in Bitcoin Cats (1CAT), which was launched by Binance-backed Bakeryswap (BAKE) in recent weeks.

DWF Labs added 96.2 million 1CATs to its balance as a result of the purchase made through the global cryptocurrency exchange Gate.io. 1CAT can currently be used for participation in Launchpool projects launched on Bakeryswap. When 1CAT was first launched, an investor who took action had made hundreds of thousands of dollars in profit in a short time.

1CAT managed to stand out as the first Launchpool that Bakeryswap launched last year. The market maker's purchase did not have a noticeable impact on the 1CAT price. According to GeckoTerminal data, 1CAT, which has lost 16% in the last 24 hours, is trading at $ 0.00831 at the time of writing.