A few days ago, I talked about GMT's journey through bull and bear markets over the past three years.

So today, I will analyze $GMT from various perspectives.

This is just a personal opinion and not investment advice.

1⃣ What will happen when GMT is fully distributed? Is the token market going to 'change drastically'?

Currently, over 50% of GMT has been distributed, with the remaining portion being released at 2.5% per year, and there are plans to burn 10%.

Adding the 13% that has already been burned in the past means the total supply is decreasing, what will this supply reduction bring?

• Supply decreases, scarcity increases: There are only so many tokens, and as they are distributed and continuously burned, the amount circulating in the market will become less and less.

Demand remains, but supply is reduced, which may cause prices to 'shoot up'.

• If the project team does not sell off, the market becomes more stable: Most tokens have been distributed, and the project team basically has no tokens left to dump on a large scale, which is good for the market.

Can the ecosystem sustain the demand?: Firstly, in the FSL ecosystem, you basically need to use $GMT in all application scenarios. If more usage scenarios arise in the future, it can indeed attract more users and funds.

The more people use it, the greater the demand for circulation, making the token's value more stable.

2⃣ Who are the on-chain 'big players' of $GMT? Investors, whales, or exchanges?

From on-chain data, there are generally three types of large holders of $GMT:

Whale investors: Institutions or individuals who bought early, typically long-term holders.

Exchange wallets: Exchanges like Binance and OKX typically hold a large amount of tokens to provide liquidity.

Ordinary players and users: These are the people who hold tokens in a decentralized manner, the largest group, but each person holds a relatively small amount.

If the largest holder is an exchange: This indicates that the liquidity of the tokens is good, but there is also a risk of concentrated sell-offs.

If the largest holders are whales: It is crucial to watch the movements of these whales, such as whether they show signs of large sell-offs. If these people remain inactive, the market is relatively safe.

Diversifying token holdings is healthier: If everyone holds a little, the ecosystem of the project is more stable, and user participation is higher.

So if you want to know whether the market is stable, check the on-chain data frequently, tools like Nansen are very suitable for seeing what whales are doing.

3⃣ Does $GMT play a significant role in the ecosystem? What impact does burning have on the market?

Currently, GMT has many uses in the ecosystem:

Payment tool: $GMT can be used for upgrades and item purchases within the ecosystem.

Governance voting: Holding GMT allows participation in important project decisions.

Staking and rewards: GMT can be used for staking to earn rewards or gain more rights.

Impact of past burns: 13% has already been burned, and another 10% is planned for the future, which makes GMT more scarce. The benefit of deflation is that the remaining tokens become more valuable.

[Summary]

Tokens need to be useful: The more $GMT is used in games, communities, or other scenarios, the stronger the liquidity, and thus the more stable the price.

Don't let everyone just hoard tokens: The project team needs to design more engaging activities, such as limited-time events and dynamic burns, to encourage users to utilize GMT instead of letting it sit idle.

The future of GMT looks promising, the token distribution is nearly complete, and the burn plan is progressing, indicating a tightening trend in supply and demand.

But whether it can continue to strengthen in the future depends on whether there are signs of 'big players dumping' in on-chain data, and whether ecological applications can sustain the demand.

Anyway, if you are optimistic about the ecological development of FSL, it is worth paying attention to subsequent developments.