Odaily Planet Daily reports, according to on-chain analyst Ai Yi, ESPORTS experienced a crash, plunging 92%. DWF Labs is suspected to be the market maker for this token. Five days ago, an address (0x7Ef...C10dD) deposited 19.9 million ESPORTS tokens—valued at $13.9 million—into a Kraken address associated with DWF Labs. The upstream source of these funds was the token deployment address, which also acted as one of the key drivers behind this flash crash, having frequently sold the token on-chain.
DWF Labs Suspected as Market Maker for ESPORTS Token Amid 92% Price Drop
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Summary
On-chain analysis reveals a 92% price decline for the ESPORTS token following a flash crash. Chain analyst Ai Yi noted that DWF Labs may be acting as the market maker. On-chain data shows that five days ago, an address (0x7Ef...C10dD) deposited 19.9 million ESPORTS tokens—valued at $13.9 million—into a Kraken address linked to DWF Labs. The upstream funds trace back to the token’s deployment address, which also aggressively sold the token on-chain.
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