According to official information, the cryptocurrency trading platform MGBX officially launched the LABUBU/USDT trading pair on June 12, 2025, providing new trading options for cryptocurrency investors. The recharge will open at 18:00 on June 12, 2025 (SGT), and transactions will also start simultaneously at this time.
The LABUBU coin was not officially issued by Pop Mart, but was launched by a group of community-driven developers. Since its launch on May 29th, LABUBU coin has attracted widespread attention in the cryptocurrency market. On its first day of listing, it experienced significant price fluctuations. The opening price was $0.04429, and then the price continued to rise, reaching a peak of $0.08786, with an increase of 98.37%. However, the market heat did not last. The price dropped rapidly and once fell to $0.02915. The lowest price of the day was 34.18% lower than the opening price. If investors buy at the highest point on May 30th, they will face a loss of up to 87.01% by the lowest point on June 4th. As of now, the maximum supply of LABUBU coins has reached 1 billion, with a market capitalization of approximately 799,522.48 US dollars.
Yu Jianing, co-chairperson of the Blockchain Special Committee of the China Communications Industry Association, said that the LABUBU coin essentially takes advantage of market sentiment, leveraging LABUBU’s high popularity and strong dissemination power in the trendy toy circle to attract funds and boost its heat. Its price soared in the short term and then plummeted, presenting a typical feature of rapid decline after liquidity aggregation. Such assets are not issued by the IP owner or related authorized institutions, nor do they demonstrate any substantive connection with the original IP in terms of business, content or brand. They are more about quickly capturing market sentiment, with speculative demand at the core, and the short-term goal is focused on the capital flow brought about by price fluctuations.
With the launch of the LABUBU/USDT trading pair by MGBX, the trading activity of LABUBU coins may further increase. However, given its previous sharp price fluctuations, investors need to carefully assess risks and closely monitor market dynamics when participating in transactions. The cryptocurrency market itself is highly uncertain and risky, and the regulatory environment is constantly changing. Investors should fully understand the relevant information and make rational investment decisions. The subsequent price trend and trading volume changes of LABUBU coins on the MGBX platform deserve continuous market attention.
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