The altcoin price skyrocketed after market maker DWF Labs invested $10 million in blockchain infrastructure provider Orbs Network through a new token sale.
Orbs Network snatches investment from DWF Labs, altcoin price jumps
Market maker and investment firm DWF Labs has invested $10 million in blockchain infrastructure provider Orbs Network through a token sale. With the effect of the news, the altcoin price started to rise. The ORBS token, which was traded at $ 0.03132 during the day, climbed up to $ 0.03467. At press time, the altcoin is trading at $0.03315, up 5.54% on a daily basis.
ORBS daily price chart / Source: CoinMarketCapOrbs recently launched its flagship tier 3 product, dTWAP, a decentralized ‘time-weighted average price’ or protocol for decentralized exchanges. Orbs and DWF are heavily involved in the TON ecosystem developed by the founders of Telegram Messenger. DWF Labs partner Andrei Grachev said in a statement:
Orbs is an extremely promising project within the TON ecosystem and we are pleased to invest in their vision for the future of decentralized finance. The dTWAP protocols for decentralized exchanges and their contribution to the TON ecosystem demonstrate their commitment to advancing the potential for growth and innovation in space.
Founded in 2017, Orbs provides public blockchain infrastructure designed to provide scalability, low transaction fees, fast performance, security and ease of use. The platform is for mass-use applications that can cause high fees and slow throughput and act as a backend for a full Blockchain technology stack. Main-net and ORBS token were launched in early 2019.
DWF Labs invests $25 million in Beldex
As we reported on Kriptokoin.com, last month DWF Labs invested $25 million in Beldex, a Web3 ecosystem of decentralized applications that protect users’ data and identities. The funds will be used to accelerate research and development for the Beldex ecosystem. In addition, DWF will serve as a consultant and assist with marketing.
“We are excited by Beldex’s ecosystem of scalable and secure decentralized applications that prioritize privacy,” said Andrei Grachev, managing partner of DWF Labs. The BDX token is an integral part of this ecosystem and provides a secure means of payment and incentives for users to contribute. “We believe Beldex’s innovative solutions and focus on privacy and decentralization make it a strong player in the cryptocurrency space.”
The Beldex ecosystem includes the private messaging app BChat, the decentralized virtual private network BelNet, the Web3 browser Beldex, and the cross-chain privacy protocol Beldex, which enables the anonymous transfer of assets between different Blockchains.
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