TechFlow news, July 14, according to monitoring by on-chain analyst ZachXBT (@zachxbt), LAB tokens have been subjected to continuous selling pressure since July 8, with the price plummeting from $14 (FDV approximately $14 billion) to the current range of around $0.27, representing a cumulative decline of over 96%.
On-chain data shows that an entity initially funded by the LAB team previously deposited 18.4 million LAB tokens (approximately $18.3 million) into Aster and continuously sold on DEX, causing the price to fall further from $1.2 to $0.55. On July 13, the entity withdrew 17.9 million LAB tokens (approximately $7.2 million) from Bitget and transferred them to Kucoin address 0xad768f...FD23; subsequently, 5 million tokens were withdrawn to an external address for continued selling. On July 14, another 30 million LAB tokens (approximately $8.3 million) were transferred from the Bitget hot wallet to another Kucoin deposit address 0xbE8De...22B84, with transaction hash 0x95f0fb...d3df.
