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#LABPlunges53PercentInTwoDays
On-Chain Activity Intensifies Selling Pressure
On-chain data shows that a large LAB holder ("whale") transferred approximately 18.5 million LAB (worth approximately $18.7 million) to the Aster platform in two days. The transfers coincided with two major waves of selling pressure that contributed to the sharp decline in LAB.
Round 1 – July 10
* Approximately 8 million LAB (worth approximately $9.54 million) were transferred.
* LAB dropped from approximately $1.20 to $0.89, a decrease of approximately 26%.
Round 2 – July 11
* Approximately 10.5 million LAB (worth approximately $9.15 million) were transferred.
* LAB dropped from approximately $0.89 to $0.56, a decrease of approximately 37%.
The combination of two selling waves resulted in a cumulative decline of approximately 53% over two trading days. Large transfers also triggered panic selling and leveraged liquidations, accelerating the downward movement as market liquidity weakened.
While the timing suggests these transfers played a significant role in the correction, investors should remember that exchange inflows alone do not definitively prove intentional market manipulation. Price movements are generally influenced by many factors, including market sentiment, liquidity, and leveraged trading activity.