$H Concerns After a Brief Rebound: From the complete unlocking plan of the token, $H faces a systemic, long-term unlocking pressure.
The 1% unlock on December 25 is just the beginning, with subsequent unlocks every month, starting at 2.7% per month from June.
This regular unlocking pattern means the market can fully anticipate these sell-off events, leading to ""preemptive reactions"". From December to September alone, over 2B H will be unlocked, equivalent to 90% of the current circulating supply. Doubling the supply will inevitably lead to a price halving.
Currently, the Top 10 account for 84.68%, and these large holders have the most motivation to sell during unlocks. The liquidity is only $1.06M, but the value of a single unlock is $5.38M, five times the liquidity, which will cause extreme slippage and a price crash.
With $H already in a downtrend, smart money has exited, and trading volume has dried up, unlocks will directly translate into dumping behavior.
This will create a ""death spiral"": expected decline → preemptive selling → actual decline → stronger expectations of decline.
