@chainnova
This last cycle made something pretty clear: the “tech narrative” was pushed hard from day one, and projects listed with fully diluted valuations that were way out of sync with their circulating supply. Then the unlocks started, sell pressure kept building, and even though circulating market caps didn’t look like they collapsed, prices absolutely did.
Arbitrum alone is down more than 11x from its peak. The story was great, but the math always catches up.
0 reply
0 recast
0 reaction