LAB token hit an all-time high of $16.24 on June 1, surging 67% in 24 hours and pushing its market cap above $4.66 billion. The token now ranks 25th by market cap with a fully diluted valuation near $14.9 billion. But the rally has drawn scrutiny from blockchain investigator ZachXBT, who claims insiders hold over 95% of the circulating supply.
The price run and what's behind it
LAB has climbed 240% in seven days and 656% in 30 days, per CoinGecko data. Supporters point to platform usage across BNB Chain, Solana, and Ethereum, a recent mobile app release, and a rewards program as fundamentals that justify the valuation. The circulating supply is roughly 312 million tokens — just 31% of the 1 billion maximum — because most tokens remain locked under cliff and linear vesting schedules.
Insider concentration allegations
ZachXBT alleges that insiders control more than 95% of circulating supply through OTC deals, private sale allocations, airdrops, and team wallets. He also says the foundation made unilateral changes to vesting terms. Some early investors have tried to offload their positions via OTC trades at discounts close to 90%, with additional short lock periods attached. Locked holders — public sale participants, team members, and early backers — cannot sell during their cliff and vesting windows. The foundation reportedly pushed the next unlock to August.
Test coming in July and August
The next unlock windows in July and August will reveal whether the price surge reflects genuine demand or a temporary supply squeeze. A 2024 study flagged insider activity in over half of post-2021 exchange debuts, adding context to the concerns but not proving misconduct in this case. For now, LAB's rally continues — but the concentration of ownership and the upcoming unlocks leave a big open question about what happens when more tokens become available.
