2026-01-05 05:21:07

Today, we won't discuss technical analysis; let's directly look at the chip logic behind $AT. Have you ever wondered why some coins start to fall nonstop after listing, while $AT suddenly rebounds after a 86% plunge in two months? The secret lies in the token unlock schedule that most retail investors overlook.

**Token Lockup: 77% of the "Sleeping" Supply**

Let's look at some key data first. The total supply is 1 billion $AT tokens, with only 230 million currently in circulation, accounting for just 23%. The locked portion? A full 77%, or 770 million tokens.

The unlock schedule is even more interesting: early investors (who hold 20% of the supply) won't start releasing tokens until October 2026; the team and foundation (holding 15%) are locked until October 2027. In other words, for at least the next year and a half, there is no large-scale dumping threat from insiders.

What does this mean? Compared to projects that have over 50% circulating supply immediately after listing, where VC costs are just a few cents and they start cashing out wildly, $AT has effectively delayed this sell-off game by two years. Either the project fails to develop during this period and hits zero, or it must work hard to grow the market pie so everyone can profit. In a bull market cycle, this is indeed a hardcore chip protection mechanism.

**On-Chain Concentration: Hidden Risks and Balance**

Worried about too much concentration of chips? The data is right here—on Ethereum, the top three addresses control 78% of the circulating supply, with Binance's hot wallet alone holding 12%. Concentration is concentration, but strangely, the price has broken upward in these two months. This indicates that large holders currently have no strong selling pressure; instead, they may be protecting the price or continuously accumulating.

AT0,61%

ETH-2,06%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

22 Likes

Reward
22
7
Repost
Share

Comment

0/400

EternalMiner

· 01-07 18:10

Damn, 77% lock-up is indeed significant, no wonder there's a rebound. What happened to projects that are locked for such a long time in the end? As long as big players don't sell off, there's still hope. The only concern is sudden unexpected changes. This logic is much stronger than having 50% circulation right after launch. Let's wait until the unlock day in 2026 to see what happens; currently, confidence is lacking. Is this a defensive move or strategic positioning? You can tell by the trading volume later. Is the 77% truly dormant, or are they just moving to another wallet? It's a bit hard to judge.

View OriginalReply0

GateUser-74b10196

· 01-07 15:30

77% lock-up sounds good, but the real issue is that 78% is concentrated in three wallets... How long can the big players support the market?

View OriginalReply0

SelfRugger

· 01-05 05:49

77% of the tokens frozen is indeed intense, but the unlock in 2026... will anyone still remember AT by then, haha I've seen plenty of market support tactics, a big holder not selling doesn't mean there won't be surprises later Wait, the top three addresses hold 78% of the circulating supply, this concentration is really terrifying A two-year delay in selling the game, let's see what the project team does in these two years Big holders supporting the market? Then I'll just wait and see, if I can't make a profit, I'll just run

View OriginalReply0

Anon4461

· 01-05 05:40

77% is locked, no wonder it can rebound, but I'm still worried that the 2027 unlock might not hit the mark.

View OriginalReply0

LiquidatedAgain

· 01-05 05:35

77% locked, this is the real story behind the rebound. I used to think $AT was done, but now I realize this mechanism is indeed ruthless. Once again, trapped inside, I hope this time it won't fluctuate around the liquidation price repeatedly. The top three addresses hold 78%... this is how big players support the market; they hold their positions patiently because they can't sell off. A two-year lock-up period—either it goes to zero or it skyrockets; there's no middle ground. It's a gamble on this time gap. Honestly, compared to those trash coins that get dumped by VCs immediately after launch, I can't see any flaws in this logic. I'm just worried that when the unlock happens later, it will trigger another round of heavy losses. If I had known two months ago, I would have bought the dip. Now I regret it so much I feel sick. Freezing tokens is indeed a clever move; projects that can't do it are actually the safest—going straight to zero is more reassuring.

View OriginalReply0

ColdWalletGuardian

· 01-05 05:30

77% of the supply is frozen, this is the real game of chips. Retail investors are still watching K-line charts, but others have already locked in the two-year risk of dumping. --- So AT is not about how strong the fundamentals are, but about being forced to be tough. Without a way out, they have to work desperately to grow the cake. --- The 78% concentration of large holders is still supporting the market, indicating they have also bet on it, which is actually a good thing. --- The unlock after two years is the real test; this rebound is definitely not the end. --- Projects with VC costs of just a few cents and high circulation rates are vastly different from this, no wonder they can rebound. --- High concentration is not the problem; the issue is whether you bet on whether they really want to make this work. --- The freezing mechanism is indeed hardcore, but it also means the project must survive within two years; otherwise, when the unlock happens, it will be a joke.

View OriginalReply0

AirdropChaser

· 01-05 05:22

Wow, 77% locked in? This is the real game of chips, no wonder there's a rebound. Early investors have to wait until 2026 to move? I have to admit, this setup is really ruthless. However, the fact that the top three addresses hold 78% is still a bit concerning; it all depends on whether new funds come in to dump later. This rebound probably won't be another tactic of the main players to support the market, right?

View OriginalReply0