LAB token weekend gains evaporate after extreme price swings trigger 82% correction
The post LAB token weekend gains evaporate after extreme price swings trigger 82% correction appeared on BitcoinEthereumNews.com. The multi-chain trading terminal and infrastructure token LAB saw an 82% correction over the past 24 hours. On Monday, July 6, the token was trading above $15 and reached a local high of $17.68. Measured from Saturday, July 4, the move beyond $17 represented a 205% gain in just over two days. This pump did not last. In the 48 hours since Monday’s high, just over 85% in value has been erased from LAB. The immense selling pressure stemmed from aggressive profit-taking as the first token unlock, set for July 14, drew closer. Source: Bubblemaps on X Visual analytics platform Bubblemaps noted in a post on X that early LAB investors were still up by $500 million, at least on paper. Yet, the looming first unlock could incite further selling. Source: X Onchain investigator Zetoshi observed an influx of LAB tokens onto centralized exchanges. The X post also mentioned