Reason for change in price.
first, the market is preparing for large unlocks in tokens such as rose and ada, totaling over $20 million, which could lead to price swings.
second, oasis token (rose) unlocked 176 million tokens at a value of about $13.99 million, accounting for 2.62% of its circulating supply. this increase in circulation could lead to some selling pressure on the token, resulting in a decrease in price.
lastly, cardano (ada) will unlock 22 million coins, giving it more price pressure.
the combined effect of these token unlocks is leading to increased price fluctuations in the market as investors react to the changes in token supply. these changes can induce individuals to sell once the tokens are unlocked, generating a situation where the coins not only have selling pressure but also have price pressure. this situation will push up the selling pressure of individual projects, leading to significant short-term price fluctuations. these fluctuations may cause some enthusiasts to lose faith and sell the project, which may further affect the price.
given these factors, investors should navigate the market cautiously and be aware of the inherent volatility in cryptocurrency investing.