ZachXBT: Addresses tied to LAB team sold another $18.3M on Aster

On-chain analyst ZachXBT reported that addresses linked to the LAB team deposited 18.4 million LAB, worth $18.3 million, to the decentralized exchange Aster and sold the tokens, causing an additional 50% price drop. He explained on July 12 that addresses presumed to belong to the team began depositing their holdings into three Aster addresses and still hold 81.5 million LAB. These addresses had previously received 196 million LAB from the team in April before depositing them to a Bitget address, ZachXBT added. ZachXBT has been one of the figures consistently raising allegations of price manipulation against LAB. According to CoinMarketCap, the token was trading around $17 on July 6 but has since fallen over 95% to its current price of $0.4098.