Why does a token unlock, even when it's public knowledge, still manage to crash the price? When I first started researching altcoins, I also believed that 'public information is already priced in.' Unlock dates, amounts, and recipient addresses are all written in the docs. Since everyone knows, the price should have already reflected it, right? Later, I realized that knowing someone is going to sell and the market actually being able to absorb it are two completely different things. I once bought into a low-circulation, high-valuation project. Before every unlock, the team would release good news, and the community would repeatedly emphasize that 'the unlock is already priced in.' At first, the price didn’t drop much, so I thought the selling pressure had been absorbed. But an unlock isn’t just a one-day dump. It’s a process where the team, institutions, and market makers continuously receive sellable tokens over the following months. As long as new buying pressure can’t keep up, the price will gradually step down with each rebound. To assess unlock risks, you can’t just look at how much of the total supply is being unlocked. You also need to consider how much it accounts for in the current circulating supply, how low the recipients’ costs are, whether the daily trading volume can absorb it, and whether the market has a strong enough new narrative to attract fresh capital. A lot of altcoins don’t suddenly become bad projects—it’s just that the supply of tokens keeps increasing while buying pressure fades away. Remember: Public selling pressure doesn’t mean disappearing selling pressure. The market can know about an unlock in advance, but it can’t magically create funds to absorb it ahead of time.