In the short term, the price may react to news, market sentiment, and liquidity flows. But in the long run, the decisive factor becomes tokenomics — a set of rules for the issuance, distribution, and circulation of the asset.
Any emission creates potential pressure, even if justified by the logic of system development. Unlockings, rewards, subsidies, and incentives form a constant influx of supply. If this volume is not compensated by sustainable external demand, the price is forced to adapt to the surplus.
It is important that pressure does not always manifest sharply. It can be expressed in prolonged sideways movements, weak recoveries after drops, or an inability to hold levels. In such cases, the market does not reject the asset, but gradually accounts for its structural limitations.
Even quality infrastructure does not negate the mathematics of issuance. If the model assumes a regular distribution of tokens without a withdrawal mechanism, the accumulation of value becomes challenging. The price reflects not expectations, but the balance between creation and absorption of supply.$ARB
The key role of tokenomics is to set the boundaries within which the price can move. These boundaries act slowly but inevitably, shaping the long-term behavior of the asset regardless of the news background.$OP
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