Data: 5.8 million LAB were transferred from the LAB insider address to CEX again, causing the coin price to drop over 11% temporarily

According to on-chain analyst @ai_9684xtpa, a suspected insider address for LAB became active again after three weeks, depositing 5.8 million LAB (approximately $834,000) to KuCoin 9 hours ago, with an average deposit price of $0.1439.

In the next hour and a half, the coin price continued to decline, briefly dropping to $0.1273, a decrease of 11.5%. This address had a similar operation record previously—on July 12, it transferred $9.15 million worth of LAB tokens to Aster, after which the coin price plummeted by 42.5%.

Currently, this entity still holds 74.7 million LAB, valued at approximately $10.11 million.