$RENDER • Price is ~7X from ATH • MC is ~6X from ATH
$TAO • Price is >2X from ATH • MC is <2X from ATH
$LINK • Price is ~4X from ATH • MC is ~2X from ATH
Most people look at price. Experienced investors look at market cap.
Because that’s where the real story of change in supply is hiding.
Let me explain it in the simplest way possible 👇
Token unlocks don’t kill a project.
They slow down how fast price can return to ATH.
That’s why market caps look healthier than prices.
Market cap includes all the new tokens.
Price doesn’t.
So if you’re waiting for “ATH prices again,” you first need to check how much supply has been added since the top.
Because every unlock pushes the “new ATH” goalpost further away.
And this is why smart investors focus on:
• Unlock schedules • Circulating supply growth • FDV vs MC • Team and investor cliffs • Future issuance pace
Narratives make tokens pump. Unlocks decide how high they can realistically go.
Yes, there are measures taken with buybacks and halving like with Bittensor, but the question is how quickly could it nullify the effects of the current surge in supply.
In the long run, the biggest winners are the tokens with controlled unlocks, real demand, and low emission pressure.
Everything else… needs 2–5X more effort to get back to where it once was. #BinanceBlockchainWeek
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