TechFlow news, July 11, according to monitoring by on-chain analyst Ai Yi (@ai_9684xtpa), a suspected insider address for $LAB transferred 7.99 million tokens to three new addresses under the Aster platform 11 hours ago. Only 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 address had transferred the same batch of tokens to three new addresses 3 hours ago, at which time the value was approximately $9.24 million, while three days ago this batch of tokens was valued as high as $141 million.
Since July 6, $LAB has flash crashed from $17.68 to $1.05, accumulating a 94% plunge in three days. The token price has fallen back to the level before the suspected market manipulation began two months ago, and the market suspects that the market makers have entered the direct distribution phase.
