Central issues:

• SpaceID and DWF Labs might connect with the flood in ID token’s cost.
• Enormous exchanges were made to give liquidity.
• The fate of $ID’s cost is unsure, and financial backers need to remain informed.

ID token flooded by around 120% over the most recent seven days. Lookonchain tracked down a connection between’s Space ID and DWF Labs.
Lately, there has been a critical expansion in the cost of SpaceID (ID) by almost 120% in only the beyond 7 days. Lookonchain has begun an investigation into the massive ID transfers that have taken place over the past week as a result of this sudden price increase. As per Lookonchain, there is by all accounts a connection between’s the addresses of SpaceID and DWF Labs and the cost increment of ID.

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After ID went live, DWF Labs, which may be the ID market maker, received 5 million ID and transferred it to a number of exchanges, including Binance, Gate.io, Bybit, Bitget, KuCoin, and MEXC. Additionally, Lookonchain discovered that on April 14, after the price of ID increased by 30%, DWF received 7.4 million ID from Binance.

Additionally, SpaceID received 20 million ID from Binance on March 30 and April 1 at approximately $0.48 each. After that, SpaceID moved 20 million ID to the address “0xf9fe.” After the transfer of 20 million ID to Binance by address “0xf9fe” 17 hours ago, the price of ID increased by approximately 23%. It is still not clear if this is just a coincidence or if these things are related.

However, it is interesting to note that within 24 hours of the ID going live, the addresses of SpaceID transferred $51 million ID to Binance and $20 million ID through the address “0xD8D6.” It is believed that these transfers were made to provide liquidity, despite the fact that this did not result in significant price swings.

The abrupt expansion in the cost of ID and the huge exchanges of ID have left numerous financial backers and dealers pondering the fate of this digital money. Whether the price of ID will continue to rise or decrease in the coming days remains to be seen. With the continuous examinations and market unpredictability, financial backers need to remain informed and settle on informed choices.