WLFI Derivatives Hit $950M Ahead of 5% Token Unlock
Open interest for WLFI derivatives don climb reach almost $950 million before dem do 5% token supply unlock, later e settle for $887 million—wey be 45% rise within 24 hours. Trading volume jump 535% reach $4.54 billion, put WLFI derivatives come fifth globally. The token dey trade around $0.34, fall from $0.40 last week, wey give am fully diluted market cap of $34 billion based on 100 billion supply. The 5 billion unlocked tokens fit raise the circulating market cap to $1.7 billion after the unlock. Binance dey lead WLFI derivatives with $2.22 billion volume and $436.5 million open interest, OKX dey follow. The unlock for early-supporter tokens dey scheduled for Sept. 1 at 12:00 UTC, fit cause price wahala. Till now, token sales don collect $550 million, Donald Trump dey act as “Chief Crypto Advocate.”
Neutral
Di big increase for WLFI derivative open interest and volume show say traders dey interested well well, na bullish sign for short term. But the scheduled 5% token unlock fit add selling pressure wey fit make price fall or make market dey volatile, this one get bearish risk. For long term, the high liquidity wey dey on exchange like Binance and OKX fit help keep WLFI price stable, but future unlocks fit cause same supply wahala wey go bring price down. So, the immediate net effect be neutral.