LAB dropped to $0.56 after a wallet described by Ember as a LAB "market maker" or major operator transferred 18.5 million LAB to Aster in two batches over the past two days. The transfers were valued at about $18.69 million in total, according to the monitoring post.
The first transfer took place the night before last, when 8 million LAB worth about $9.54 million were sent to Aster. After that move, LAB fell from $1.2 to $0.89 the next day, a decline of 26%.
A second transfer followed last night, with another 10.5 million LAB worth about $9.15 million sent to Aster. LAB then fell again, sliding from $0.89 to $0.56, a drop of 37%.
Across the two moves, the token went from $1.2 to $0.56, for a total decline of 53%, based on the figures cited in the source. The data was attributed to Ember monitoring.
According to Ember monitoring, a LAB whale described in the source as a LAB "market maker" transferred a total of 18.5 million LAB to Aster in two batches over the past two days, worth about $18.69 million by the figures cited in the post. LAB fell from $1.2 to $0.56 after the transfers, a total drop of 53%.
Two transfers, two rounds of declines
The first move came the night before last, when 8 million LAB worth about $9.54 million were sent to Aster. The next day, LAB fell from $1.2 to $0.89, a decline of 26%.
The second move came last night, when another 10.5 million LAB worth about $9.15 million were transferred to Aster. LAB then dropped from $0.89 to $0.56, a further 37% decline.
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