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RIVER's unlock scale this time is indeed significant. According to information, the Advisors will soon unlock 3 million tokens, accounting for 15.3% of the current circulating supply. This size is enough to attract market attention.
Interestingly, the token price experienced a noticeable surge on the eve of the unlock. Many speculate that there are manipulative traces by large traders, first pushing the price up to attract follow-up traders, then dumping under the pressure of the unlock—an old but effective tactic.
From the perspective of funding rates, they have remained in the negative range of -0.2% to -0.8% in recent days, indicating that short positions are bleeding continuously. Traders who opened shorts at high levels should have suffered quite a bit. In this environment, those who dare to hold onto their short positions truly need strong psychological resilience.
My personal stance is to continue observing. On one side, there is the pressure from a significant increase in supply, and on the other, the strange movement of funding rates. This situation is too complex. Let’s wait until the waters calm down.