WLFI Public Sale Top 10 Hold Dem 4.63%, TGE Unlock $264M Tokens
On August 24, on-chain analyst @ai_9684xtpa report say di top 10 people wey join di WLFI public sale dey hold 4.63% of all di token supply (4.64 billion WLFI), and dem don invest about USD 73.08 million. All di ten addresses join di first fundraising phase, and one address con add more tokens for second phase. Di biggest holder, moonmanifest.eth, get over 1 billion WLFI, wey create big gap between am and di next person wey get tokens. At di current contract price wey be USD 0.2843, di Token Generation Event (TGE) go unlock 20% of WLFI, dat mean new tokens worth USD 264 million go enter market. Traders suppose watch make dem no get too much sell pressure from di unlocked tokens wey fit affect WLFI price short term, and also watch how dis lockup release compare with old token unlock events.
Bearish
Di waka kam to TGE unlock go release 20% of WLFI (about 928 million tokens) into circulation, value plenty, about USD 264 million. Big big token unlocks na dey usually cause sell-side pressure becos holders wan make profit, e fit make price drop short-term. Even though di top 10 holders dey carry only 4.63% of total supply, di one wey hold di biggest chunk fit make market wahala bigger. Before now, big token unlocks (like for other DeFi projects) don cause price to fall till demand from buyers balance dat new supply. For long term, price fit stable if WLFI get good adoption and utility, but short term na bearish sentiment dem dey expect as supply dey increase.