Svmuu News: On-chain analyst ZachXBT posted that, over the past 48 hours,an address initially funded by the LAB team deposited 18.4 million LAB (approximately $18.3 million) into Aster and has been continuously selling on DEXs, causing the LAB price to drop from $1.20 to $0.55—a decline of about 54%.
According to ZachXBT’s investigation, the address received over 196 million LAB from the LAB team in April 2026,which it subsequently transferred in batches to a Bitget deposit address. In May, it withdrew approximately 100 million LAB from Bitget to 10 addresses, and began transferring funds to Aster earlier this week. Currently, the entity still holds approximately 81.5 million LAB.
ZachXBT noted that as early as May 2026, he had disclosed issues with the LAB team, including a lack of transparency in private sales and over-the-counter transactions, unilateral changes to the token vesting schedule, and control over more than 95% of the token supply.This price crash coincided with the timing of the rumored token unlock event, yet the LAB team responded only by citing “major market participants” as the cause. Furthermore, ZachXBT expressed disappointment that Bitget, Binance, and Gate failed to take action against the alleged market manipulation.