SpaceID (ID) has recently experienced a surge in its token's price, with a growth of nearly 120% over the seven days leading up to the present date. Blockchain analytics firm Lookonchain examined the transactions related to this price rise and found that addresses associated with SpaceID and DWF Labs may have been involved. The study further concluded that DWF Labs may have been acting as a market maker for the token. It was discovered that DWF Labs received 5 million ID from SpaceID shortly after the token's launch and then transferred these tokens to various exchanges. Meanwhile, on April 14, DWF Labs received 7.4 million ID. The transaction coincided with a 30% increase in the price of ID. Additionally, SpaceID received 20 million ID from Binance on two separate occasions, which were followed by an increase in the token's price. Finally, 51 million ID were transferred to Binance within 24 hours of the token's launch which appears to be for the purpose of providing liquidity. Through this article, investors have been given a better understanding of the activity around SpaceID, which could be beneficial in shaping their investment decisions.



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