LAB Token Plummets 77%, Erasing $6 Billion in Market Value

LAB token experienced a dramatic collapse, dropping 77% within two hours on June 2, from a peak of $27.96 to approximately $6, wiping out nearly $6 billion in market value, according to BeInCrypto. On-chain analysis reveals that the dominant addresses involved in the sell-off were routers, proxy contracts, and settlement infrastructure, rather than retail holders or whales. The largest individual sell during the crash was only $18,600, raising questions about the absence of whale-sized transactions. The crypto community is questioning how such a significant drawdown occurred without visible large-scale sells.