$STABLE Tomorrow’s unlock of around 5% of the circulating supply is looming overhead. Is the daily drop of over 10% pricing it in early, or will selling continue?
On November 8, around 889 million tokens (≈4.9% of the circulating supply, worth about $23 million) will be unlocked for the ecosystem/community. The daily chart is already down 10.7%, underperforming BTC’s 6% daily drop. After touching 0.0296 at 17:00 yesterday, heavy selling this morning between 08:00 and 09:00 broke below the daily low of 0.02544. Open interest also declined in tandem, suggesting passive deleveraging. An ecosystem unlock doesn’t necessarily mean immediate selling—but has this discount already been priced in, or will the market keep searching for a bottom during the unlock window?
#STABLE unlocks about 5% of circulating supply #StablecoinSettlementBlockchain
On November 8, around 889 million tokens (≈4.9% of the circulating supply, worth about $23 million) will be unlocked for the ecosystem/community. The daily chart is already down 10.7%, underperforming BTC’s 6% daily drop. After touching 0.0296 at 17:00 yesterday, heavy selling this morning between 08:00 and 09:00 broke below the daily low of 0.02544. Open interest also declined in tandem, suggesting passive deleveraging. An ecosystem unlock doesn’t necessarily mean immediate selling—but has this discount already been priced in, or will the market keep searching for a bottom during the unlock window?
#STABLE unlocks about 5% of circulating supply #StablecoinSettlementBlockchain
