<That " 34,208 million DOTs will be unlocked today" is false on the Internet. After inquiries, these tokens have been unlocked at block height 3281096, which is January 10, 20 Beijing time. At 23 minutes.
A few days ago, according to “ Messari data, Polkadot will unlock 34.208 million DOTs on the 18th. This unlocked share comes from a private equity round of financing in 2020. The investor cost is 1.25 USD/DOT (after the split), except for the Web3 fund. In addition to the 300 million DOTs that will be held, about 116 million DOTs will be used for future financing and flow into the market."
In fact, the time listed by Messari is a guess value, and the block height generation time is not fixed. According to Polkadot’s official website, in July last year, the team completed the third round of financing by selling 30 million DOTs. These tokens were locked for 5 months as required (5 months after August 18), at block height 3281096 Unlock, the estimated time is mid-January.
The data on the Polkadot chain shows that the block height 3281096 was generated on January 10, not January 18. This means that the speculation that there will be huge selling pressure in the online market today is not accurate.
Cocoa financial market shows that since the DOT was unlocked on January 10, the price of the token fell by 17% the next day, and the price fell from around 9 US dollars to 7.1 US dollars. However, in the next 5 trading days, DOT has been in an ascending channel, the price rushed directly above the 10 US dollars, and rose nearly 40% on the 16th, the price rose to 18.2 US dollars.
After standing above the US$18 mark, DOT further rose to US$19.3 at 4 am on the 17th, continuing to a new high for the year. However, affected by the news that "300,000 DOT will be unlocked on the 18th", the token price dropped slightly in the evening of the same day, with a one-hour drop approaching 4%, closing at around 16.3 USD. So far this morning, the DOT price has rebounded and once again stood above the $18 mark, reaching a maximum of $18.19 in the day.