DWF, a Singapore-based blockchain investment firm, has deposited $2 million worth of ALGO tokens into cryptocurrency exchanges, bringing their total deposits to 16 million ALGO tokens worth $9 million. Despite concerns that the large deposits could lead to a sell-off and lower prices, the token's price has actually increased by 185%. Analysts speculate that this price increase may be due to growing confidence in the Algorand blockchain and recent partnerships. The current price of the token is $0.5736, with a 24.2% surge in the last 24 hours. Traders are closely watching for further developments from DWF Labs that could impact the token's price.



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