Can XPL bulls absorb the $10.79 mln token unlock? Assessing…
Plasma (XPL) has rebounded 18% in a day and 37% from its all-time low, yet remains 94% below its peak. A significant token unlock of 88.89 million XPL ($10.79M) has entered circulation, testing market absorption capacity. Despite this, bullish sentiment is strong: Binance traders heavily favor longs (73%), and exchange outflows of $822k suggest holders aren't liquidating aggressively. However, long liquidations ($93K) recently outpaced shorts ($34K), indicating volatility. For the uptrend to continue, buyers must maintain depth, ensure steady outflows, and avoid overcrowded leverage to digest the new supply without severe disruption.
ambcrypto02/27 04:02
