How to put it, with $WLFI dropping to where it is now, who sold off is no longer important; what matters is that someone needs to take the blame.
Perhaps, Brother Sun is stepping in, defying the odds.
From September 2 to now, the spot trading volume of $WLFI:
coinbase 1.35b,
binance 1.19b,
huobi 0.39b.
Aside from other CEXs, do you believe that Sun Yuchen is using $WLFI on Huobi to crash the market?
After the crash, there are still nearly 3 billion tokens that can be locked... I looked it up online and found that Sun Yuchen holds a total of 3,000,042,574 $WLFI.
Coinmarketcap shows that the circulating supply of $WLFI is 24.66B. Even if Sun Yuchen holds a few hundred million more, it can't crash a truly valuable market.
So ultimately, the question is how much $WLFI is really worth. It's not that the market cap of $WLFI isn't worth 6 billion dollars, nor is it that the FDV of $WLFI isn't worth 23 billion dollars.
It's that it has overdrawn its future, and right now it hasn't realized that value yet. This principle should be understood by most people, so the return to value is a normal occurrence.
Truly:
Tokens rise and fall in their own time,
Why should Trump blame Yuchen?
If Yuchen were to crash $WLFI,
Who would be left with $TRUMP at zero?
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