About today's $HYPE unlock, when I first checked the calendar, I thought we were in for a hit.
It listed 9.92 million tokens, worth over $900 million. But the team said at the end of October that only 180,000 tokens would actually be released today, worth around $14 million—less than 2% of the amount on the calendar. The rest is still locked, and when it will be released is still unclear.
The interesting thing is that the price didn't take it well at all. It fell along with the broader market and is now around 77.5, down more than 7% in a day and over 16% for the week.
The unlock overhang is out of the way, but the price drop is another matter.
#HYPE #MarketAnalysis
It listed 9.92 million tokens, worth over $900 million. But the team said at the end of October that only 180,000 tokens would actually be released today, worth around $14 million—less than 2% of the amount on the calendar. The rest is still locked, and when it will be released is still unclear.
The interesting thing is that the price didn't take it well at all. It fell along with the broader market and is now around 77.5, down more than 7% in a day and over 16% for the week.
The unlock overhang is out of the way, but the price drop is another matter.
#HYPE #MarketAnalysis