$VELVET This market value is a half-price lie: only 48% of the float is available, while more than half of the supply is still locked behind the unlock gate. Taking the deal is like putting a cushion under the sell pressure for the future. The historical peak topped off nearly two months ago; now it’s tumbled from the peak all the way down to the ankle. When the market opens with full tradability, the valuation would double—cheapness just means there are no shares released to let the time-out-the-chips account remember for you. The large holders’ net position shrank by 20% in seven hours; smart money ran first.