$ZRO Pops 17% on Buybacks, but the Oct 20 Unlock Is Days Away
ZRO trades near $2.14, up 16.7% today and more than double since early September. The driver is ATLAS: 75% of certain fees go to buying and burning the token, about 2.54M ZRO ($5.4M) so far.
The problem: the monthly unlock on Oct 20 releases about 25.7M ZRO, roughly ten times everything bought back. Buybacks are a real positive, just far too small to absorb that supply.
Bearish into the unlock. Expect a slide toward the $2.00 3-day average while ZRO stays below $2.23.
Not financial advice. DYOR.
$ZRO
ZRO trades near $2.14, up 16.7% today and more than double since early September. The driver is ATLAS: 75% of certain fees go to buying and burning the token, about 2.54M ZRO ($5.4M) so far.
The problem: the monthly unlock on Oct 20 releases about 25.7M ZRO, roughly ten times everything bought back. Buybacks are a real positive, just far too small to absorb that supply.
Bearish into the unlock. Expect a slide toward the $2.00 3-day average while ZRO stays below $2.23.
Not financial advice. DYOR.
$ZRO