On-chain data has sparked serious allegations of market manipulation around a little-known altcoin, with an address tied to potential insider activity sending massive chunks of tokens to the Aster platform.
The wallet in question moved 10.5 million $LAB tokens to Aster in its most recent transaction. At the transfer price of roughly $0.872 per token, this batch alone had a value of approximately $9.15 million. That transfer was actually the second large deposit from the same address within about 22 hours. Combined, the two transactions pushed about $18.69 million worth of $LAB into Aster over a 24-hour window.
The timing raises eyebrows. After the initial transfer late the previous night, the $LAB price began a sharp decline. That drop intensified fears that these tokens might be sold off, creating heavy selling pressure. So far, there is no confirmation that the tokens were actually sold on the exchange — but the market seems to be reacting as if they were.
Price collapse and volatility
$LAB has been wildly volatile lately. In just the last 24 hours, the token’s price fell 28%. Over the past month, the drop is a staggering 92%. A near-total evaporation of value. Some holders are left wondering if inside knowledge of the transfers triggered panic selling, or if the address itself was behind the dump.
The address is still being monitored. It is not clear who controls it or what their endgame might be. But the pattern of large deposits ahead of price drops does not look good, at least to many in the community.
For now, the token remains under heavy scrutiny. Whether regulators or exchanges step in is anyone’s guess. The case highlights ongoing risks in crypto markets where anonymous wallets can move millions before the public even hears about it.
*This is not investment advice.
