LAB Token Crashes More Than 90% As Heavy Selling Hits KuCoin And MEXC

LAB has crashed more than 90% from its recent highs, extending one of the sharpest token reversals in the market after heavy exchange-side selling pushed the multi-chain trading terminal token toward $0.90.

The token traded near the $0.89 to $0.90 area on July 9, down about 60% over 24 hours and roughly 90% over seven days. LAB’s market cap nears $280 million, with 24-hour volume above $340 million and a circulating supply of about 312 million tokens.

LAB traded above $24 to $27 during its recent peak, leaving the latest price more than 95% below that zone. MEXC still listed LAB’s all-time high near $27.21, while the token’s 24-hour range showed continued volatility between about $0.82 and $2.78.

The collapse followed earlier warnings around LAB’s market structure. LAB had already suffered a 70% flash crash from its all-time high in June, when traders questioned supply control, liquidity and insider exposure after the token moved violently between $27.30 and $8.29.

LAB Team Points To Large Sellers

The LAB team told its community that the latest selloff came from significant selling pressure by large market participants. The project said several independent trading firms hold substantial LAB positions and are not affiliated with the team.

The statement did not identify the sellers, publish wallet-level attribution or give a breakdown of exchange deposits. It also did not confirm a contract exploit, project treasury sale or direct team sale. LAB said its product roadmap and long-term focus remain unchanged while it works with liquidity partners and monitors market conditions.

The pressure landed on a token that was already under public scrutiny from onchain investigator ZachXBT. Earlier allegations around LAB focused on insider-controlled supply, OTC deals, exchange deposits and market-maker behavior. Those claims remain allegations unless verified through exchange records, legal findings or project disclosures, but they have shaped market reaction to every major LAB move since May.

LAB’s volatility also hit DeFi users through secondary exposure. PiggyBank users faced vault drawdowns after a locked LAB trade moved against the protocol’s hedge during extreme market conditions, turning a token controversy into a risk-management problem for a yield product.

Exchange Deposits Add To Market-Structure Scrutiny

The latest selloff was accompanied by reports of large LAB deposits into KuCoin and MEXC before tokens were sold into thin liquidity. Those flows have been described as worth more than $1.6 million, though the public trail still needs complete wallet-level confirmation before the deposits can be treated as final attribution.

LAB’s own materials describe the project as a multi-chain trading terminal backed by investors including Lemniscap, Animoca Brands, OKX Ventures, Mirana Ventures, KuCoin Ventures, Gate Ventures, GSR and Cypher Capital. The product pitch covers spot, limit-order and perpetual futures trading across multiple chains.

The size of the drawdown now puts LAB in the same market-structure debate as other low-float, high-volatility tokens that collapsed after concentrated selling. EDGE faced a similar transparency fight after a sharp token break, with the price move becoming part of a wider dispute over market manipulation claims and disclosure.

LAB remained near $0.90 on July 9, with a max supply of 1 billion tokens, about 312 million tokens in circulation and more than $300 million in reported 24-hour trading volume.

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