Unlock 1.8 billion tokens, and it even surged 20%—who would dare chase this?
$XPL Today, 1.8 billion tokens were unlocked. This mainly comes from the one-year cliff unlock for the team and investors,
amounting to roughly over 60% of the previously circulating supply.
But in the past 24 hours, it has risen about 20%–35%, up roughly +30% over 7 days, with trading volume significantly expanding.
Currently, the price has already moved up near the upper Bollinger Band. The short-term conditions are overheated and volatility is extremely high.
I believe this is an emotion-driven front-run before the unlock plus FOMO. Fundamentally, there hasn’t been much change.
Plasma’s story is indeed quite good:
A payment-focused L1 for stablecoins, mainly targeting USDT transfers, low-cost payments, and its Plasma One card product.
The problem is that the sell-pressure from the unlock is too heavy.
So I’m bearish in the short term, and I’ll wait until the sell-pressure is cleared before reassessing.
At the current price, I don’t think it’s advisable to chase longs.
Around 0.12, it may be a better idea to try shorting.
If later it breaks down and falls through 0.10 with heavy volume, I’ll continue to look for 0.095 and even 0.085–0.09.
If, after the unlock, within 3–7 days XPL can hold up against the sell-pressure and reclaim above 0.105, then that would indicate the market has absorbed this batch of tokens.
Today’s rise is emotion. And what also happened today is dilution taking effect.
So cash out in the short term, and only after the sell-pressure is cleared should we talk about the next wave.
Musk 🔥⭐🐶M ar v in⬇️b⬇️s⬇️c
XPL is currently a high-volatility, high-dilution, high-emotion type of asset.
Let the tokens land first, then we can talk about the next wave.$BTC $ETH
#QNT上涨39% #Bitget黑客伪造转账请求非窃取私钥 #比特币现货ETF年内转为净流入
$XPL Today, 1.8 billion tokens were unlocked. This mainly comes from the one-year cliff unlock for the team and investors,
amounting to roughly over 60% of the previously circulating supply.
But in the past 24 hours, it has risen about 20%–35%, up roughly +30% over 7 days, with trading volume significantly expanding.
Currently, the price has already moved up near the upper Bollinger Band. The short-term conditions are overheated and volatility is extremely high.
I believe this is an emotion-driven front-run before the unlock plus FOMO. Fundamentally, there hasn’t been much change.
Plasma’s story is indeed quite good:
A payment-focused L1 for stablecoins, mainly targeting USDT transfers, low-cost payments, and its Plasma One card product.
The problem is that the sell-pressure from the unlock is too heavy.
So I’m bearish in the short term, and I’ll wait until the sell-pressure is cleared before reassessing.
At the current price, I don’t think it’s advisable to chase longs.
Around 0.12, it may be a better idea to try shorting.
If later it breaks down and falls through 0.10 with heavy volume, I’ll continue to look for 0.095 and even 0.085–0.09.
If, after the unlock, within 3–7 days XPL can hold up against the sell-pressure and reclaim above 0.105, then that would indicate the market has absorbed this batch of tokens.
Today’s rise is emotion. And what also happened today is dilution taking effect.
So cash out in the short term, and only after the sell-pressure is cleared should we talk about the next wave.
Musk 🔥⭐🐶M ar v in⬇️b⬇️s⬇️c
XPL is currently a high-volatility, high-dilution, high-emotion type of asset.
Let the tokens land first, then we can talk about the next wave.$BTC $ETH
#QNT上涨39% #Bitget黑客伪造转账请求非窃取私钥 #比特币现货ETF年内转为净流入