THIS IS WHY AEVO CRASHED HARD
AEVO Unlocks Nearly Entire Token Supply, Leading to Sharp Price Dump
Massive unlocking of $AEVO tokens from the Aevo project. On May 15, 827.6 million AEVO tokens were unlocked, increasing the circulating supply by nine times from the previous 122 million. In just one day, nearly 1 billion AEVO tokens surged into circulation.
This unlocking was driven by the conversion of RBN tokens from Ribbon Finance to AEVO at a 1:1 ratio. Ribbon, a prominent DeFi protocol in the decentralized options space, merged into Aevo following a governance vote in July 2023.
Whether this event will mark a new chapter for Aevo or create a vulnerability that the project will struggle to overcome remains to be seen.
