$GMT Unlocks 1.62% of the circulating supply on November 7 (about $324,000).
To assess the impact of the unlock, focus on three things:
1) Size: The percentage is not high, so the impact is relatively limited;
2) Recipients: This time, the recipients are the foundation, team, and ecosystem community. Generally speaking, teams and early investors have a low cost basis and are more likely to cash out, while ecosystem-related releases tend to be more dispersed;
3) Market absorption: An unlock ≠ an immediate sell-off of everything. It also depends on whether the market can absorb the supply.
Bullish or bearish?
#GMT