Stable Price Plunges Ahead of $30M Token Unlock

Stable (STABLE), a mid to large cap asset, has seen its price drop by approximately 4.7% over the last 23 hours, leading to speculation about the cause of this decline.

The most likely explanation is the upcoming token unlock scheduled for August 8th, which will see around 888.89 million tokens unlocked at once, valued at roughly $30.11 million and accounting for approximately 3.5% of circulating supply.

This type of 'cliff' style unlock can put pressure on prices as traders expect additional supply to hit secondary markets, increasing potential sell pressure.

Notably, the drop is specific to Stable (STABLE) and not mirrored by a broad crypto selloff, with the total market cap slightly higher and BTC dominance roughly flat.