LAB Trade’s native token collapses 90% in 48 hours, wiping out billions in market cap amid insider control and manipulation allegations.
Key Takeaways
LAB token cratered 90% over 48 hours, wiping out billions in market cap.ZachXBT slammed top centralized exchanges for failing to halt the July manipulation.Investors surged to avoid trading LAB as team token unlocks are set for later in July 2026.LAB, the native token of the multi-chain trading platform LAB Trade, suffered a catastrophic collapse this week, plunging from just over $7 to $1.25 on Wednesday—a staggering 80% decline in under 24 hours. This crash followed an equally brutal sell-off on Tuesday, which saw the token slide from nearly $17. In total, LAB wiped out nearly 90% of its value in just 48 hours.
The financial fallout was swift: a market capitalization that exceeded $5 billion on Tuesday morning evaporated to just $390 million by 3:30 p.m. EST on Wednesday. The freefall prompted the LAB Trade team to address the panic on X, where they expressed disappointment and deflected blame toward external heavy-sellers:
Crypto Sleuth Slams Centralized Exchanges
