On August 26, 2025, Huma Finance will see a $13 million token unlock, accounting for 21.5% of the current circulating supply. This unlock stems from Huma's roadmap plan following the TGE (Token Generation Event) in May 2025, involving early investors and the team incentive pool. Although there are concerns in the market about the potential sell-off pressure from the unlock, on-chain data shows that the fundamentals of the Huma ecosystem are strong enough to support long-term value.
Data Insights:
• Optimized Holding Structure: According to Dune Analytics, the top ten addresses holding Huma tokens have decreased from 68% at the time of launch to 42%, while the number of retail addresses has increased by 350%, indicating a trend towards decentralized token distribution.
• Strong Staking Demand: The staking mechanism of Huma 2.0 allows users to earn additional rewards by staking HUMA, with the current staking rate at 38% and over 7.4 million tokens locked, forming a natural buffer against sell pressure.
• Divergent Market Expectations: Glassnode data shows that the 30-day MVRV ratio of HUMA is 1.2, indicating that long-term holders are still in profit. However, short-term speculators should be cautious of liquidity shocks on the day of the unlock.
Institutional Viewpoint:
Hashkey Capital's research report points out that Huma's protocol revenue capture ability (annualized revenue exceeding $8.5 million) and the cash flow-supported token model (50% of transaction fees used for buyback and burn) will gradually alleviate the unlock pressure. If Huma 2.0's TVL surpasses $300 million in Q3, the reasonable valuation range for HUMA is $25 million to $30 million.
