$NIGHT I was deceived, and someone told me that the data of cmc is false, the circulation is not as high as 69.2%. Only Binance's alpha 1.2 billion is fully circulated, and the actual circulation from others and some on-chain adds up to about 10%. I just happened to be caught in a short position and had to close it immediately.
Now looking back, as a zk layer with a valuation of 1.7 billion at the opening, under the current market conditions, there is a monetary policy meeting tonight. Even if there is liquidity, it will not be left for a small altcoin but will be waiting for the big coins like Bitcoin and Ethereum.
So, who will take this market cap? What is currently issued is basically allocated to exchanges, almost all similar to airdrop benefits, given to users. This part of the selling pressure is real money. Even if only 10% is circulated, that is still 2.4 billion tokens. At a price of 0.07, theoretically, 168 million in sell orders cannot be fake, of course, the more you sell, the lower the price goes, the less there is.
So, when you collect the right information and make reasonable predictions, just believe in yourself.
