LAB (LAB) fell 16.9% over the past 24 hours, trading near $12.39 with a market capitalization of roughly $3.9 billion, ranking it among the day's biggest losers. The token sits at #28 by market cap, according to live market data.
The decline came as sentiment across the broader crypto market soured following a high-profile warning from a senior industry figure.
What's driving the move
Andrei Grachev, co-founder of DWF Labs, warned on X that Strategy (formerly MicroStrategy) and BitMine could trigger the largest crypto market crash in history. Grachev urged investors to consider a scenario in which Bitcoin (BTC) falls to as low as $10,000 to $20,000.
Grachev framed the warning as arriving at what he described as one of the most fragile moments for both companies, pointing to liquidity concerns tied to corporate Bitcoin treasury strategies. Such warnings can weigh on smaller-cap tokens, which tend to amplify swings in overall market risk appetite.
Market context
LAB's double-digit drop outpaces the kind of moves typically seen across major assets on a quiet day, underscoring how sharply mid-cap tokens can react when broad sentiment turns defensive. At $12.39, the token reflects the kind of volatility that often accompanies market-wide de-risking rather than an isolated, token-specific event.
Grachev's commentary did not single out LAB, and no project-specific catalyst has been attributed to the token's slide. Instead, the move appears consistent with a broader pullback in risk assets as traders weigh the warning's implications for Bitcoin and the wider market.
What to watch
Traders will be watching whether selling pressure stabilizes or extends if Bitcoin sentiment deteriorates further. With LAB down sharply and ranked among the top decliners, near-term direction is likely to track the broader market's response to liquidity concerns flagged by Grachev.