August 22
Succinct ($PROVE ) has changed little over the past 24 hours (-0.001%), but has lost about 11% over the week. The slight decline is linked to the overall weakness of altcoins and ongoing selling pressure after recent events.$PROVE
Profit-taking after the listing – Listings on major exchanges (Binance, Coinbase) in early August caused a 150% increase, but subsequent airdrop claims and profit-taking led to volatility.
Sales after the airdrop – 15 million PROVE tokens were distributed through the HODLer Airdrop on Binance, and recipients are likely to have sold part of their tokens to secure profits.
Overall weakening of the altcoin market – Bitcoin's dominance has risen to 58.69%, which reduces interest in small coins like PROVE amid limited liquidity in the cryptocurrency market.
The slight change in the price of PROVE over 24 hours masks internal processes: early investors are taking profits, while long-term holders are betting on the token's role in the ZK infrastructure. The fate of PROVE depends on whether staking growth can offset sales after the airdrop.
What to watch: can PROVE hold the level of $1.12 (key point) amid the rising dominance of Bitcoin? Keep an eye on the usage metrics of Prover Network from Succinct to assess fundamental demand.