Blockchain tracker Lookonchain said wallet 58bro.eth pulled 3.55 million lobster tokens from Gate 21 hours ago, with the position valued at about $301,000 at the time of withdrawal. The withdrawal price was listed at $0.085 per token. Four hours ago, the same address sent the tokens back to Gate at $0.028 each.
Based on the figures provided, the trade resulted in a loss of about $200,000 in less than 20 hours. Lookonchain’s update also said the lobster token had previously surged 244% in a short period before falling 73%. The move highlights a failed short-term trade captured by on-chain monitoring.
According to Lookonchain, wallet 58bro.eth withdrew 3.55 million lobster tokens from Gate 21 hours ago. The tokens were worth about $301,000 at the time, with a withdrawal price of $0.085 per token.
Four hours ago, the same address deposited the tokens back to Gate at $0.028 each. Based on the disclosed figures, the address lost about $200,000 on the trade in less than 20 hours.
Lookonchain also said the lobster token had earlier jumped 244% in a short period and then fell 73%.
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