Cryptocurrency is experiencing one of the most dramatic price drops in recent history. Bitcoin (BTC), which briefly dropped to $61,000 earlier in the day, is now following suit. While many crypto assets have experienced steep drops in price, LAB (LAB), on the other hand, is registering large gains. The asset will hit a record-breaking high of 27.30 USD by June 2, 2026. CoinGecko shows that LAB’s price has rallied by nearly 24% in the last 24 hoursIt has increased by nearly 3000% since the beginning of the month. We’ll discuss the factors that are driving LAB during a crash in the market.
Why did LAB hit an all-time high during a market crash, and is it safe?
Many attribute the sudden surge in LAB prices to investors’ FOMO (Fear of Missing Out). Some investors might be betting on LAB because most major cryptocurrencies have been losing money. But there’s also the possibility that a “pump-and-dump” scheme.
Vova and Mark Sadkov, the founders of LAB, are not strangers to controversy. The founders of LAB have been accused by some that they abandoned investors in their former project Eesee. Some say that the same pattern has been repeated with LAB.
ZachXBT, a popular cryptocurrency sleuth who has been investigating LAB for a while now, published LAB’s full investigation last month. Zach’s words would not encourage you to invest. Zack says that the insiders are in control of more than 95%. LAB’s pattern suggests a clear example of pump and dump. Just 61 whales are responsible for 99.83% the market value. The asset price is likely to plummet if these whales book profit and sell their assets.
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Although it might seem appealing to invest into a project such as the LAB, you should do some research first. Crypto sector has many exploits, hackers. Exercise caution.
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Source: watcher.guru
