The move highlighted sharp price pressure in LAB, with supply concentration concerns and losses for traders betting on a decline featuring in the reported market action.
LAB rose to $16.23, according to the provided report, even as concerns persisted that 95% of the token’s supply was concentrated. The article also said short sellers took heavy losses during the move higher. Supply concentration is closely watched in crypto markets because a small number of holders can have an outsized impact on liquidity and price formation, while a rapid price increase can force short sellers to cover positions at a loss, adding to upward pressure.