LAB token unlock leads to 99.94% price drop from peak

LAB unlocked tokens from its public sale yesterday amid price-manipulation allegations. Participants joined the LAB public sale in October last year, with the token rising 1,120-fold within nine months before the lock-up was lifted. An investor who initially invested 5000 dollars saw their position value peak at 5600000 dollars, but the project delayed the unlock date. When the tokens were finally delivered, their value had plummeted to 3219 dollars, a 99.94% drop from the peak. An investor, SKYLINE, noted that their 5000 dollar investment from the community sale had been delivered, commenting on the significant loss. LAB previously peaked at around 24.4 dollars on Binance perpetual futures, giving it a fully diluted valuation of 24.4 billion dollars, but it is now trading at approximately 0.08543 dollars.