LAB Token Unlock Sees Team-Linked Entity Continue Selling, Specter Says

LAB tokens were unlocked today, and an entity linked to the project’s team is still selling LAB as the token’s price has fallen 99%, according to on-chain investigator Specter. According to Odaily, Specter said the entity is actively selling and contributing to further price declines. Specter also said LAB’s price had previously been manipulated upward and later became a pump-and-dump case. Specter reported that at LAB’s peak price, the allocated holdings had a paper value of nearly $977 million, but are now worth about $4 million. The report added that investigator ZachXBT has publicly pointed to the activity multiple times and said on-chain evidence exists, but no exchange has taken action to stop or address the behavior.