For a long time, I assumed most token drops failed because of bad timing or weak market conditions. But after watching a few cycles closely, it started to feel repetitive in a different way the same outcome, even when everything else looked right.
What kept standing out wasn’t the size of the distribution, but the type of wallets receiving it. In cases where eligibility was tied to real participation or some form of verification, the behavior changed. Selling slowed down. Wallets didn’t disappear overnight. And systems designed to filter sybil activity were quietly reducing noise before tokens even hit circulation.
It made me rethink how supply actually moves. When people understand why they received a token, they don’t treat it like something random to offload. It carries context, and that changes how long it stays.
Most of the market still treats distribution as automatic dilution, but that assumption only holds when there’s no selection behind it.
Now, whenever I look at a project, I spend less time on how much they’re distributing and more on how intentionally they’ve chosen who receives it.
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