Svmuu News: On-chain investigator ZachXBT posted that the LAB token has fallen from $14 to less than $2 over the past 24 hours, a drop of approximately 85%, causing its fully diluted valuation (FDV) to shrink significantly from about $14 billion.
ZachXBT expressed disappointment that Binance, Bitget, and Gate failed to take proactive measures to prevent price manipulation, adding that if centralized exchanges truly prioritized user interests, they should at least return the profits generated by accounts suspected of market manipulation to users.
He also pointed out that LAB investors were originally scheduled to begin unlocking their tokens later this month, but the vesting arrangements had been revised multiple times prior to this. Insiders have long controlled nearly the entire circulating supply and carried out extreme price manipulation through market makers on centralized exchanges; therefore, he “does not recommend trading LAB under any circumstances.”