$STABLE
Tonight, December 8th at 21:00, the mainnet will go live, and the positive news will serve as the starting point for negative sentiment.
The utility of the token is in doubt. The Gas fees for this chain are paid directly in USDT.
It is only used for governance and staking, with weak demand fundamentals.
A massive unlocking and selling pressure is imminent. The total supply of the token is 100 billion.
Tonight, 10% (10 billion) of the "Genesis distribution" will be fully unlocked.
This will bring direct selling pressure to the market, and the valuation is clearly overvalued.
Market predictions indicate a high probability that its fully diluted valuation will exceed 20 billion USD.
However, a conservative estimate suggests the corresponding coin price should be around 0.02 USD.
Currently, the pre-market price is 0.032-0.033, and the implied valuation has reached 30 billion,
which severely overdraws expectations. Personally, I see it as bearish!!
