- Sharp rise in LAB share price heading toward new record highs:



LAB price rose slightly above $18.00 at the time of writing this report on Wednesday, defying the broader headwinds in the cryptocurrency market that constrained Bitcoin (BTC) price in the $62,000-$63,000 range and Ethereum (ETH) price between $1,600 and $1,700.

- LAB stock continues its rise despite declining retail sector demand:

Retail investor participation in LAB's derivatives market remains weak, evident from the average open interest volume of perpetual futures contracts reaching $249 million on Wednesday, a slight decrease from $251 million previously. CoinGlass data indicates that current open interest levels are significantly lower than the recent spike to $381 million on June 19, and below the all-time high of $824 million on June 2.

This fluctuation in participation indicates continued investor skepticism regarding the rise of LAB shares, leading to limited willingness to open new long positions.

LAB futures open interest data | Source: CoinGlass

The funding rate weighted by open positions for the LAB index, which is currently in negative territory, aligns with the decline in retail investor participation. The persistent negative reading indicates that short sellers are willing to pay additional fees to keep their short positions open, anticipating a significant trend reversal despite the rise above $18.00.
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LAB7.09%
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Before00zero
· 06-24 17:34
LAB's stock rose over 24% to trade above $18.00 on Wednesday.
LAB's recovery relies on a strong technical structure, with momentum indicators trending upward alongside key moving averages.
A decline in retail participation, with $249 million in open positions in perpetual futures and a negative weighted funding rate, may limit LAB's growth potential.
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