VirtualBacon
Crypto Investor & Educator, Macro Analysis
Injective faces no large early-investor unlock that could add selling pressure over the long term. All of its token supply is already circulating, with market cap equal to fully diluted value; that makes holding it a healthier long-term proposition than RWA layer-1 tokens with an unlock cliff. x.com x.comÂ
SpaceX's large share unlock magnified the selling-pressure risk. The biggest unlock amounted to 30% of its float. x.comÂ
World Liberty Financial looks built to take money from retail, with control concentrated at the top while most holders cannot sell. About 80% of early investors remain locked, yet the team has sold billions of new tokens despite raising $550M+, and a few wallets control most of the supply. The plan to unlock 62 billion tokens sent WLFI down 13% to new all-time lows. Some partners are linked to fraud, one big investor has sued over frozen tokens, and there are claims of a hidden blacklist. x.comÂ
Injective's INJ is no longer attractive enough to compete with newer Layer 1 projects, in reply to @DukeD_Defi's case that the market misprices it as an onchain capital-markets chain. x.comÂ
Worldcoin's token unlocks, worth around $100 million a month, need that much exit liquidity every month, and the buyers to absorb them have been drained. x.comÂ
Growing onchain stock activity makes cryptocurrencies less compelling even as blockchains succeed. Active RWA TVL in DeFi rose from $15M to $332M in ten months, over 20x. Stocks are set to eat crypto on its own turf, not the other way around. x.comÂ
Injective looks primed to 2x or even 3x in a relatively short period, and 100% of its supply is already in circulation. x.com x.comÂ
World Liberty Financial's WLFI token is a governance token with no claim on revenues, and 67% of its supply has yet to be released. The price is already down 18% in 48 hours. x.comÂ
Hyperliquid is among the crypto projects proving that real revenue used for buybacks and burns drives the best long-term performance. Tokens without revenue, or whose buybacks do not offset emissions and unlocks, are inflationary assets relying on sentiment. Projects with revenue and value accrual, including Hyperliquid and GEODNET, held up surprisingly well through the bear market. x.com x.com x.comÂ
Formerly low-float, high-FDV tokens that are becoming fully unlocked, such as NEAR, Uniswap's UNI and ether.fi's ETHFI, can finally go up once they stop being diluted every month. x.com x.comÂ
Cardano is large-cap vapour trending toward zero: a $7B fully diluted valuation is utterly ridiculous for a legacy infrastructure project that has delivered nothing. Everyone holding for the last six years is at a loss, and the next cycle is unlikely to repump it because retail now has more attractive frontier equities to chase. Long revenue-producing crypto assets with value accrual and short vapour infrastructure remains a good long-term trade. x.com x.comÂ
