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AT recently listed on a certain exchange, and the community is quite lively. Watching the candlestick charts stir with activity, I can't help but ask a tough question: Can a new exchange truly improve the project's fundamentals, or is it just helping the project overextend future expectations?
Everyone knows the significance of launching a new exchange—more exposure, deeper liquidity, and that almost unavoidable hype around listing. For projects like AT that require broad ecosystem participation, this should be a positive. But the real issue isn't there.
The data is right here. AT has a total supply of 1 billion tokens, but only 230 million are in circulation. In other words, over 75% of the tokens are still held in team wallets, fund reserves, and by investors, waiting to be released someday. It's like a water reservoir—on one side, the exchange is adding water (increasing liquidity), while on the other side, there's a spillway three to four times larger (token unlocks). Can the current water level (price) truly reflect the reservoir's real capacity (value)? Clearly, that's worth questioning.
The story of AT sounds promising. It uses AI to verify real-world assets and complex data. In a landscape dominated by traditional oracle giants controlling price data sources, this logic indeed appears unique. But can a beautiful story paired with such a token structure sustain real growth in the ecosystem? That’s the real question in front of us. Launching a new exchange just makes the stage bigger; the ultimate direction still depends on whether the fundamentals can keep pace.