Token unlocks: Bitway and Kite bring temporary selling pressure（user supply）
Event details: Bitway (BTW) will unlock tokens worth hundreds of millions of dollars around November 3; Kite (KITE) will unlock approximately 640 million tokens at 9 p.m. Beijing time on November 3, about 17.42% of its circulating supply and worth approximately $75.6 million. BTW’s annualized short funding rate once reached -77%, indicating high holding costs and high volatility.
Which coins are affected: $BTW , $KITE , and similar small-cap tokens facing unlocks.
Reason: Large unlocks increase circulating supply, while high funding rates add the risk of short covering.
Resistance and support levels: Watch how prices test support after the unlocks.
Future trend: Volatility may increase around the unlock window. If market demand is weak, prices may fall further; BTW’s deeply negative funding rate also means short covering could trigger a sharp rebound.
Related coin information: Token unlocks are a routine source of selling pressure on the supply-and-demand side; the size of the unlock relative to circulating supply and liquidity determines the impact.
Event details: Bitway (BTW) will unlock tokens worth hundreds of millions of dollars around November 3; Kite (KITE) will unlock approximately 640 million tokens at 9 p.m. Beijing time on November 3, about 17.42% of its circulating supply and worth approximately $75.6 million. BTW’s annualized short funding rate once reached -77%, indicating high holding costs and high volatility.
Which coins are affected: $BTW , $KITE , and similar small-cap tokens facing unlocks.
Reason: Large unlocks increase circulating supply, while high funding rates add the risk of short covering.
Resistance and support levels: Watch how prices test support after the unlocks.
Future trend: Volatility may increase around the unlock window. If market demand is weak, prices may fall further; BTW’s deeply negative funding rate also means short covering could trigger a sharp rebound.
Related coin information: Token unlocks are a routine source of selling pressure on the supply-and-demand side; the size of the unlock relative to circulating supply and liquidity determines the impact.