LAB Token Plummets 77%, $6 Billion Vanishes: On-Chain Data Points to Infrastructure, Not Holders

LAB token just imploded, dropping 77% from its peak in a two-hour bloodbath. We're talking $6 billion in market value vaporized. Forget retail or whale dumps; the transaction logs show automated infrastructure, proxy contracts, and settlement routers were the main players. This wasn't your typical sell-off.

The token, which traded in single digits just days before, rocketed to $27.96 on MEXC following a buyback announcement and vesting changes. Then, it all unwound, crashing to around $6. The fully diluted valuation took an even bigger hit, collapsing from $28 billion to under $7 billion.

What's raising eyebrows is the on-chain footprint. Trackers flagged that the dominant addresses moving LAB during the crash were not individual holders. One proxy contract alone executed over 4,500 trades in under two hours, but the largest single sell transaction recovered was a mere $18,600. This disconnect between the massive value wiped and the tiny individual trades screams manipulation.

Accusations are flying, with on-chain investigators pointing to insider control of over 95% of the float through opaque deals and vesting schedules. This isn't the first time LAB has seen a sharp, suspicious collapse, mirroring patterns seen in other tokens like RAVE, where similar tactics led to billions in losses.