Introduction
This article reviews this week's on-chain activities, including Grayscale ETF address operations, DWF Labs' trading strategies, and Ethereum Foundation transactions, providing readers with a clear and comprehensive overview of key market movements.
DWF Labs Transfers VELO to Exchanges
DWF Labs received 75,000,000 VELO tokens (avg. price: $0.003) from the project team on July 14, 2023. Between April 8 and May 7, 2024, they transferred 55,000,000 VELO to Bybit (avg. price: $0.0187). The firm retains 20,000,000 VELO.
👉 Track DWF Labs' wallet activity
Andrei Grachev's Suspected PROM Purchase
An address (0x3A2...) withdrew 52,090 PROM ($4.863 avg.) from Binance on December 8, 2023. On February 14, 2024, 49,965 PROM were transferred to 0xf689... (suspected to belong to Andrei Grachev, DWF Labs' Head). Recent withdrawals on May 7–8 added 132,316 PROM ($9.75 avg.), bringing the total to 135,222 PROM.
Grayscale Bitcoin ETF Records First Net Inflow
Grayscale's GBTC ETF saw its first 2024 net inflows starting May 3, signaling reduced sell-offs via Coinbase. Data suggests potential Bitcoin accumulation.
Ethereum Foundation Sells ETH
On May 8, the Ethereum Foundation (0xde0...) transferred 1,000 ETH to a multisig address (0xbC9...), later sold via CowSwap to fund grants.
Process:
- Yellow arrow: ETH transfer to grant provider
- Red arrow: Sale via intermediary (0x180c...)
Key Takeaways
- DWF Labs: Offloading VELO via Bybit; monitor PROM holdings.
- Grayscale: Sustained GBTC inflows may indicate bullish sentiment.
- Ethereum Foundation: Routine grant funding, no market impact.
FAQ Section
Q: Why did DWF Labs choose Bybit for VELO sales?
A: Bybit's liquidity and trading pairs likely facilitated optimal execution.
Q: Are Ethereum Foundation sales bearish signals?
A: No—these are planned disbursements for ecosystem grants.
Q: How significant are GBTC's net inflows?
A: Historically rare; could reflect institutional demand resurgence.
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