Unlock coincides with a market crash
Yesterday, 59.26 million CARDS tokens were unlocked
Worth about $17.57 million, or 9.6% of the circulating supply
That’s enough to take the market a while to absorb under normal conditions
But it happened to coincide with the market-wide crash on October 30
The unlock didn’t just happen today
But the new tokens only really start to circulate after today
With 9.6% in new supply hitting the market
Set the usual storytelling aside for now
First, watch whether the unlocked tokens move
Where they go matters more than the unlock itself
In the morning snapshot on October 30, CARDS was trading at around $0.29
We’ll see over the next few days whether it can withstand this wave of new supply in a weak market
Just my personal opinion; this is not investment advice
#解锁 $CARDS
Yesterday, 59.26 million CARDS tokens were unlocked
Worth about $17.57 million, or 9.6% of the circulating supply
That’s enough to take the market a while to absorb under normal conditions
But it happened to coincide with the market-wide crash on October 30
The unlock didn’t just happen today
But the new tokens only really start to circulate after today
With 9.6% in new supply hitting the market
Set the usual storytelling aside for now
First, watch whether the unlocked tokens move
Where they go matters more than the unlock itself
In the morning snapshot on October 30, CARDS was trading at around $0.29
We’ll see over the next few days whether it can withstand this wave of new supply in a weak market
Just my personal opinion; this is not investment advice
#解锁 $CARDS
