Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

ZachXBT Explains Why LAB Token Crashed Nearly 100%

Source Beincrypto

Onchain investigator ZachXBT has linked an entity initially funded by the LAB (LAB) team to the token’s 97% price crash.

The findings deepen scrutiny of LAB Trade, whose token has lost substantial value through the latest crash. The team rejects any project-level cause.

LAB Community – an update on today’s market activityWhile today’s market activity is disappointing, our product roadmap and long-term focus remain unchanged.We’re seeing significant selling pressure from large market participants. Several independent trading firms also hold…
— LAB (@LABtrade_) July 8, 2026

The On-Chain Trail Behind LAB

ZachXBT published his latest findings on Telegram. He traced the selling to an entity first funded by the LAB team.

The wallet received more than 196 million LAB from the team in April 2026. It then routed tokens to four Bitget deposit addresses.

Roughly 100 million LAB left Bitget in May and sat dormant for weeks. The distribution resumed on July 10.

The investigator reported that the entity began selling 18.4 million tokens on the decentralized exchange (DEX) Aster, driving the LAB price down from $1.2 to $0.55.

It still holds 81.5 million LAB. That overhang points to further potential selling pressure.

“This week the LAB price collapsed shortly before the rumored unlocks were scheduled to begin…It is disappointing no action was taken by Bitget, Binance, or Gate for allowing blatant market manipulation on tokens against users,” ZachXBT said.

LAB Team Responds With a Token Burn

The investigation comes amid a double-digit decline in the price of the LAB token. BeInCrypto Markets data showed that the altcoin has dropped more than 97% in the past week. At press time, LAB traded at $0.5428, down 28.35% over the past day.

LAB (LAB) Token Price Performance. Source: BeInCrypto Markets

Meanwhile, the team addressed the decline on X. It blamed heavy selling by outside participants.

“We’re seeing significant selling pressure from large market participants. Several independent trading firms also hold substantial LAB positions that are not affiliated with our team,” the post read.

The team later said it burned 10 million LAB, or 1% of the supply. On-chain data confirms the tokens moved to a null address.

After yesterday, we're taking actionWe've permanently burned 1% of the total $LAB supplyThis marks the beginning of a broader initiative to strengthen LAB as we continue to build and scaleBurn transaction: https://t.co/2T4mtQKGbaOur priorities remain the same: improving… pic.twitter.com/1auYVbKP4A
— LAB (@LABtrade_) July 9, 2026

This week’s slide follows an earlier pattern. LAB previously crashed 77% from a $27.96 peak in June, wiping out about $6 billion.

A succeeding rally then erased most of the loss before the latest downturn. The coming days will test whether the burn steadies the price or the selling resumes.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Markets in 2026: Will gold, Bitcoin, and the U.S. dollar make history again? — These are how leading institutions think After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?

Author Insights

Dec 25, 2025

After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?

Gold rises to weekly high as US, Iran reach peace deal Gold price (XAU/USD) rises to a weekly high during the Asian trading hours on Monday. The precious metal rebounds after the United States (US) and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.

Author FXStreet

Jun 15, Mon

Gold price (XAU/USD) rises to a weekly high during the Asian trading hours on Monday. The precious metal rebounds after the United States (US) and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.

WTI consolidates below $72.00 as traders monitor geopolitical developments West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.

Author FXStreet

Jul 10, Fri

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.

Gold recovers above $4,100 as traders assess US-Iran conflict Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.

Author FXStreet

Jul 10, Fri

Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.

Popular Symbols