đš $65M UNLOCK LANDED AT 08:00. GT DIDN'T FLINCH
GateToken unlocked ~$65.4M of GT this morning (08:00 Beijing time), the biggest unlock on this week's calendar at 6.4% of market cap. $GT trades at $9.71, down 2.5% in 24h (CoinGecko), right in line with BTC and ETH.
My take: that unlock is worth about 88x GT's entire 24h spot volume, so any real selling would show up fast. So far it hasn't, which says the market priced it in weeks ago or the tokens simply aren't moving yet.
Is this unlock already priced in, or is the selling just delayed? đ
Not financial advice. DYOR.
#crypto #altcoins #TokenUnlocks
GateToken unlocked ~$65.4M of GT this morning (08:00 Beijing time), the biggest unlock on this week's calendar at 6.4% of market cap. $GT trades at $9.71, down 2.5% in 24h (CoinGecko), right in line with BTC and ETH.
My take: that unlock is worth about 88x GT's entire 24h spot volume, so any real selling would show up fast. So far it hasn't, which says the market priced it in weeks ago or the tokens simply aren't moving yet.
Is this unlock already priced in, or is the selling just delayed? đ
Not financial advice. DYOR.
#crypto #altcoins #TokenUnlocks
