LAB Whale Moves 100 Million LAB to the Blockchain, Potentially Linked to RAVE Team

BlockBeats News, May 12th, according to on-chain analyst Yu Jin, 100 million LAB tokens (worth approximately $514 million) were transferred from Bitget to on-chain by whales using 10 addresses in the past 10 hours. This accounts for about 32% of LAB's circulation supply.

Furthermore, Yu Jin stated that the previous "meme coin" RAVE also experienced a similar large-scale transfer from Bitget to on-chain, and the gas source of these two batches of addresses was highly consistent. Therefore, RAVE and LAB are very likely operated by the same group of whales.