$LAB update: the earlier thesis keeps playing out, and another unlock lands September 14.
The earlier post said LAB isn't going back to $10, the supply math doesn't allow it, and pointed out the move was being carried by leverage, not real buyers. Price has kept falling since then, sitting at 0.0493 now, down 26.46% in 24h.
The structure has gotten even more stretched. OI at 33.3% of mcap, futures at 30.1x spot, spot volume just $3.02M. The "leverage-carried, no real buyers" picture from the earlier post has only gotten more pronounced.
L/S at 3.76, the crowd is heavily long, the same pattern flagged before. Top trader positions at 1.93, far more cautious than the crowd. Taker at 1.19, buyers slightly aggressive, but price keeps falling anyway, meaning the buying isn't enough to stop the slide.
$1.35M liquidated in 24h, a large number.
Another airdrop distribution lands September 14, just a few days out. The vesting schedule running into 2027, with new tokens entering circulation every month, mentioned in the earlier post, keeps grinding on as part of this ongoing supply pressure.
The supply-side thesis, distributed float, continuous unlocks, no more single-wallet manipulation mechanism, still holds. The crowd staying heavily long while price keeps falling anyway suggests those long positions are getting more fragile by the day.
The earlier post said LAB isn't going back to $10, the supply math doesn't allow it, and pointed out the move was being carried by leverage, not real buyers. Price has kept falling since then, sitting at 0.0493 now, down 26.46% in 24h.
The structure has gotten even more stretched. OI at 33.3% of mcap, futures at 30.1x spot, spot volume just $3.02M. The "leverage-carried, no real buyers" picture from the earlier post has only gotten more pronounced.
L/S at 3.76, the crowd is heavily long, the same pattern flagged before. Top trader positions at 1.93, far more cautious than the crowd. Taker at 1.19, buyers slightly aggressive, but price keeps falling anyway, meaning the buying isn't enough to stop the slide.
$1.35M liquidated in 24h, a large number.
Another airdrop distribution lands September 14, just a few days out. The vesting schedule running into 2027, with new tokens entering circulation every month, mentioned in the earlier post, keeps grinding on as part of this ongoing supply pressure.
The supply-side thesis, distributed float, continuous unlocks, no more single-wallet manipulation mechanism, still holds. The crowd staying heavily long while price keeps falling anyway suggests those long positions are getting more fragile by the day.
