On the evening of August 20 at 7 PM, ZRO will unlock 25.71 million tokens worth $19.9 million. As soon as the news broke, people at the Binance Square were already shouting “the era of a massive crash.”

The unlock amount represents 4.4% of the circulating supply. That number keeps coming up again and again, but no one explains why 4.4% would be destined to trigger a drop.

“Dog-whales fleeing,” “unlocking means immediate sell-off”—all of it is panic content. But the source is only a routine “weekly preview.” Even the media only treat it as standard data reporting.

The real variable is this: after the unlocking party receives the tokens, will they sell on the same day? And so far, no one has provided any evidence.

Now the entire market is waiting for the 20th. Worth asking: when everyone already knows in advance and starts panicking, how much room does this bearish news still have?