Connecting Data to Wealth Creation
Connecting Data to Wealth Creation
Alright, let's get one thing straight: these "token unlocks" everyone's breathlessly anticipating? They're usually just a fancy way of saying "dump incoming." Starknet (STRK) and Arbitrum (ARB) are next on the chopping block, and honestly, does anyone expect anything but more red candles?
So, November 15th and 16th are the dates to circle on your crypto calendars, folks. Starknet's unleashing 5% of its circulating supply, while Arbitrum's dropping a slightly less terrifying 2%. But don't let that smaller percentage fool you. We're talking about millions of tokens hitting the market, all at once. As reported by CCN.com, these unlocks could cause significant selling pressure for both tokens: Starknet and Arbitrum Face Significant Unlocks That Could Cause Selling Pressure - CCN.com.
Starknet's been doing this monthly cliff unlock thing for over a year, which begs the question: why haven't they learned their lesson yet? Every time they do this, the starknet token price takes a hit. Are they actively trying to tank their own project?
Then there's Arbitrum. Their unlock schedule is "linear," which sounds a lot less dramatic, but it's been dragging on for over a year and will keep going until April 20217. Yep, you read that right—20217. Someone needs to check their math... or maybe they're just really committed to slow, agonizing price decay.
Technical analysis, blah, blah, blah. Okay, fine, I'll play along. Apparently, STRK tried a "failed breakout" on November 10th, confirming some "resistance trendline" around $0.190. Translation: it bounced off a ceiling and fell back down. Groundbreaking.
ARB, on the other hand, supposedly broke down from $0.26 support and briefly dipped to $0.230 before staging a minor comeback. But let's be real, a bounce like that is just a dead cat, right?
And here's the kicker: if ARB keeps sliding, the next stop is apparently $0.136, thanks to some Fibonacci mumbo jumbo. Look, I'm not saying these charts are gospel, but they paint a pretty clear picture: downward pressure, and lots of it. But, what if the Fibonacci sequence is just a load of hooey? Just a thought.
Traders are "watching closely" to see if these unlocks make things worse. Well, no duh! What else are they gonna do, throw a party? The only suspense here is how bad it's going to get.
Remember when Starknet hit a low of $0.034 after launching in November 2024? It's clawed its way back since then, but it's still stuck in a "descending parallel channel." Sounds like a fancy prison to me.
Arbitrum's been on a similar downward trajectory since August, breaking down from diagonal support and validating it as resistance. Crypto is so confusing sometimes, ain't it?
These unlocks are a slap in the face to anyone who actually believes in these projects. It's like the founders are saying, "Thanks for your money, suckers! Now watch as we dump our tokens and devalue everything you own." It's brutal. But hey, maybe I'm just being cynical. Nah.
These unlocks are just another symptom of a bigger problem: the complete lack of accountability in the crypto space. Projects can raise millions, promise the moon, and then slowly bleed their investors dry with these token unlocks. It's legal, but it sure as hell ain't right.
Here's the real question: when are people going to wake up and realize this is a rigged game?
