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The cryptocurrency market has seen significant challenges, primarily due to the actions of market makers. The collapse of UST is a stark reminder of the negative impacts these players can have, and today, DWF has taken center stage as a key market influencer. As major companies withdrew their market-making roles during bear markets, the crypto sector has entered a tougher phase. What has been the latest move of the crypto market maker?
HIPPO Coin News Update
Liquidity support is a hot topic these days. BNB has launched a campaign for a $100 million liquidity support initiative. In an environment where projects lacking necessary liquidity support have witnessed losses exceeding 40% in just minutes, maintaining close relationships with market makers has become advantageous for altcoin teams. As investors experience fear and panic, we observe that even minimal sales can lead to adverse results on the charts.
DWF’s Crucial Support for HIPPO
DWF recently announced that the HIPPO team reached out to them for assistance, providing crucial support to a project suffering significant value losses. DWF Labs took a major step by purchasing $1.5 million worth from three different exchanges to stabilize the downturn.
Market makers emphasized the importance of such support in light of the severe fluctuations observed in cryptocurrency markets recently. Following the announcement, the price of HIPPO on the SUI network surged by 14%. Sudeng (HIPPO) is a meme coin inspired by the character Moo Deng, a miniature hippopotamus.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
