LIVEUrgent News!!
Pyth Network
MUST READ if you hold or want to buy!!
On May 20th ( In 1d 13H to be precise) Pyth is having a MASSIVE Token unlock.
Details.
Current price - 0.4446
Current market Cap -$666,883,032
Current Circ supply 15%
Total unlock(May 20th), 2.13B Pyth ( $943 million) (147% circ supply)
THIS IS A CLIFF UNLOCK( this means it happens quick not over time)
Cliff Unlock breakdown,
Ecosystem growth - $ 490 million
Publisher Reward - $ 235 million (PRICE WARNING)
Private sales - $109 Million (PRICE WARNING)
Protocol dev- $93 million.
As i pointed out with AEVO last week we have a massive unlock coming on PYTH, this unlock will be volitile because of the circulating supply, i expect the price will fall in the coming days,weeks.
DONT ENTER HIGH LEVERAGED SHORTS based on this post,do your own research!
I believe over the next 1-2 weeks we will see a drop in price, a massive token unlock like this will most likely drive down price, especially considering the amount going to publishers and private sales and the total unlock value/current market cap.
I think it is a good short for the next weeks.
Please, i write and research everything i post, i feel responsible for my words, please dont put yourself in financial risk or invest any amount you cant afford to lose, if you do trade this only trade a small % of your bankroll, AT 1-1 or EXTREMELY LOW LEVERAGE!
Also please note,
I DONT have any link to the project.
I DONT own Pyth Token
I am NOT trying to influence you for my gain
My assessment is purely based on the understanding of how unlocks and the distribution of these unlocks affect markets, particularly when they have a low circulating supply and market cap relative to the unlock, I don’t follow this project closely.
Should it drop between 10-15%+ I would advise taking profits,partial profits, the drop will be sell pressure from the unlock and it could recover within days with whales buy orders being hit,entering at lower prices
Peace
#PYTH #AltcoinGains #TokenUpdate #AltcoinInvesting #Write&Earn