Onchain researcher ZachXBT has linked an organization that was previously supported by the LAB group (LAB) to a 97% drop in the value of the token.
These findings deepen the analysis of LAB Trade, whose brand has lost a lot of profit due to the recent crash. The group rejects any reason for the project level.
The On-Chain Trail Behind the LAB
ZachXBT published his findings recently on the Telegraph. He pursued the sale to an agency sponsored by the LAB group.
The wallet received more than 196 million LAB from the group in April 2026. It then transferred tokens to four Bitget deposit addresses.
About 100 million LAB left Bitget in May and remained silent for several weeks. The work resumed on July 10.
The researcher said that the organization began to sell 18.4 million tokens per Decentralized exchange (DEX) Asterdriving the price of LAB down from $1.2 to $0.55.
It still has 81.5 million LAB. It further indicates a further increase in sales.
“This week the price of LAB dropped shortly before the rumored opening… It’s disappointing that Bitget, Binance, or Gate didn’t take action to allow market manipulation of tokens for users,” ZachXBT. he said.
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The LAB Team Responds With a Token Burn
The search comes on the heels of a double-digit drop in the price of the LAB token. BeInCrypto Markets information is displayed what altcoins have it is down more than 97% in the last week. At press time, LAB was trading at $0.5428, down 28.35% from the previous day.
Meanwhile, the group reported on the decline of X. It blamed the large sales to foreigners.
“We are seeing significant sales from major market participants. Several independent companies also have major LAB positions that are not part of our team,” post read it.
The group later said it would burn 10 million LAB, or 1% of the supply. On the chain data confirms that the symbols have moved to a null address.
This week’s photos follow the old schedule. LAB fell 77% from the peak of $ 27.96 in June, and removed about $ 6 billion.
The next meeting then deleted more loss before the recent decline. The coming days will test whether the burn reduces the price or the sale resumes.
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A note ZachXBT Explains Why LAB Token Dropped Almost 100% appeared for the first time BeInCrypto.
