$STBL (2-hour): approaching ALL-TIME LOWS (24c)

I have come across this very interesting project called STBL that belongs to the BNB ecosystem.

Debuted on exchanges like two weeks ago, ATH at 61cents, all-time low at 24c a few days ago, marketcap roughly $140 million, serious institutional backing, aiming to disrupt the stablecoin sector with innovation.

Only 5% of the supply is circulating (500 million tokens), but this is going to change soon (16 Oct) when another 2.31% of coins gets unlocked. And another 2.31% next month. And another 2.88% on 16 December.

That's nearly 900 million STBL just in Q4 (and the unlocks accelerate with time).

There will be BUYBACKS apparently, but only up to a $1M each month.

Fundamentally, this is a MASSIVE RED FLAG.

Unless we see real adoption booming, the price is likely to keep declining as it has been doing.

It's a case of 'wait & see' for me at this moment, and obviously trust the charts, as per usual.

For now, the bottom has not yet been confirmed, we did have two FALLING WEDGES that broke out with volumes, but this most recent one could be failing. Below the 50 SMA, not a good short-term signal, at all.

So yeah, it looks like a great asset to have on your WATCHLIST, huge potential but quite risky to buy in my opinion. Yet. 👽💙

Anybody IN this one already, perhaps?