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Two Wallets Withdraw 110 Million Lobster Tokens as Price Rises 40%
The withdrawals totaled $7.01 million and represented 11% of Lobster’s total supply. The wallets are suspected to belong to the same whale or institution.
Two wallets suspected of belonging to the same whale or institution withdrew 110 million Lobster tokens from KuCoin and Gate on Oct. 7, an amount equal to 11% of the token’s total supply as its price rose more than 40%.
The withdrawn tokens were valued at about $7.01 million. The wallet activity involved two separate addresses, but their common ownership has not been established.
Lobster’s gain occurred on the same day as the large withdrawals.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.