Binance distributed 15 million $PROVE (1.5% of the total supply) among holders $BNB in early August. Historically, airdrop recipients sell about 30-50% of the tokens received within a few days.
What this means: After the listing, the token faced a 'supply shock'. While the airdrop helped attract new users, it also created resistance in the $1.19–$1.25 range. The daily trading volume $PROVE remains high ($118 million), indicating ongoing token distribution.
Bitcoin's dominance reached 58.69% as traders move away from riskier assets. The cryptocurrency fear and greed index is at 46 (neutral), reflecting caution in the market.
What this means: Over the last 30 days, PROVE has increased by 27%, outpacing Bitcoin (+2.25%), but tokens from the ZK sector are facing challenges without new growth drivers. The RSI-14 at 49.65 indicates neutral momentum, and the 7-day moving average ($1.22) serves as a resistance level.
The slight change in the price of PROVE over 24 hours conceals internal processes: early investors are taking profits, while long-term holders are betting on the token's role in ZK infrastructure.
