This $LAB drama on the Square is absolutely hilarious! 🤣 With the current spot price hovering close to $20, people are out there doing crazy off-market dumps of locked allocations at a massive 1-fold discount for just $2.
The real kicker is the "galaxy-brain" traders who bought those locked tokens and immediately opened heavy short positions to lock in a carry trade—only to get completely eaten alive by negative funding fees 😅. Until the actual unlock date hits and those tokens can hit the open spot market, they won't see that price drop on the chart. Pure funding rate trap by the market makers!
The real kicker is the "galaxy-brain" traders who bought those locked tokens and immediately opened heavy short positions to lock in a carry trade—only to get completely eaten alive by negative funding fees 😅. Until the actual unlock date hits and those tokens can hit the open spot market, they won't see that price drop on the chart. Pure funding rate trap by the market makers!