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#LABPlunges53PercentInTwoDays
The LAB token price fell by 53% in a short period due to large token transfers (18.5 million total tokens) made to the decentralized exchange Aster by wallets allegedly linked to the founding team, followed by subsequent sell-offs. Along with this selling pressure, the token saw a drop of up to 97% from its all-time high.
As a result of this sell-off chain, the LAB price dropped from $1.20 to around the $0.55 level. The LAB team burned 10 million tokens, claiming the decline was caused by major market participants unrelated to them, but the downward pressure on the price continued. According to current data, LAB is trading below the $0.40 range on the CoinMarketCap LAB page.
The LAB token price fell by 53% in a short period due to large token transfers (18.5 million total tokens) made to the decentralized exchange Aster by wallets allegedly linked to the founding team, followed by subsequent sell-offs. Along with this selling pressure, the token saw a drop of up to 97% from its all-time high.
As a result of this sell-off chain, the LAB price dropped from $1.20 to around the $0.55 level. The LAB team burned 10 million tokens, claiming the decline was caused by major market participants unrelated to them, but the downward pressure on the price continued. According to current data, LAB is trading below the $0.40 range on the CoinMarketCap LAB page.