According to on-chain analyst Ai Yi (@ai_9684xtpa), a suspected insider address transferred 7.99 million $LAB tokens to three new addresses on the Aster platform 11 hours ago. Just one and a half hours after the transfer, the price of $LAB plummeted from $1.21 to $0.8152, a drop of 34%. Previously, this same address had moved the same batch of tokens to three new addresses three hours earlier, when they were valued at approximately $9.24 million; three days ago, the value of this batch was as high as $141 million. Since July 6, $LAB has crashed from $17.68 to $1.05, plunging 94% over three days, returning to levels seen two months ago prior to the suspected market manipulation. The market now suspects that the manipulator has entered the direct liquidation phase.
A suspected insider address of LAB transferred 7.99 million tokens, causing the token price to drop by 34%.
TechFlowShare
Summary
A suspected insider address of $LAB transferred 7.99 million tokens to three new addresses under the Aster platform 11 hours ago. The price of $LAB dropped 34% within 1.5 hours, falling from $1.21 to $0.8152. This follows a $9.24 million transfer three hours earlier, from a batch originally valued at $141 million three days prior. Since July 6, $LAB has declined 94% to $1.05, sparking concern among traders. With whales suspected of entering a direct dumping phase, $LAB remains on the list of altcoins to monitor.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.