TLDR
INFINIT (IN) fell 4.40% over the last 24h, underperforming the broader crypto market (+3.91%) and extending a 26.16% decline over 30 days. Key drivers:
- Airdrop sell pressure – Binance Alpha users claimed 500 IN tokens each on August 10, with gradual selling likely continuing.
- Weak technical structure – Price below key moving averages signals bearish momentum.
- Post-V2 update cooling – INFINIT V2 launch on August 20 saw initial hype fade, with user metrics failing to spark renewed demand.
Deep Dive
1. Airdrop Sell Pressure (Bearish Impact)
Overview:
On August 10, Binance distributed 500 IN tokens to users holding 200+ Alpha Points (Binance). This followed a 5% token allocation (50M IN) for airdrops during its August 7 listing. Historically, airdrop recipients often sell tokens for short-term gains, creating sustained downward pressure.
What this means:
The gradual release of airdropped tokens (likely vesting or staggered claims) has increased circulating supply without proportional demand. With 228.3M IN circulating (22.8% of total supply), even moderate selling from airdrop participants can disproportionately impact price.
What to look out for:
On-chain data tracking airdrop wallet activity (e.g., large transfers to exchanges like Gate.io or Bitget, which listed IN this month).
2. Technical Weakness (Bearish Impact)
Overview:
IN trades at $0.073, below its 7-day SMA ($0.082) and EMA ($0.081). The RSI-14 at 48.2 suggests neutral momentum but aligns with a descending trend from its August 7 debut at ~$0.10.
What this means:
Persistent failure to reclaim moving averages signals weak buyer conviction. The 24h volume of $43.6M (-3.15% vs. prior day) reflects fading interest, while the RSI’s inability to break above 50 reinforces bearish control.
What to look out for:
A sustained move above $0.082 (SMA-7) could signal trend reversal.
3. Post-V2 Update Sentiment Shift (Mixed Impact)
Overview:
INFINIT V2 launched on August 20 with AI-driven DeFi strategy automation and cross-chain support. While the update added functionality, user growth metrics (184K beta users, 456K transactions) failed to meet inflated expectations (timbro_bro).
What this means:
The “buy the rumor, sell the news” effect likely contributed to post-launch profit-taking. Despite V2’s technical merits, the lack of immediate ecosystem growth or major partnerships has left traders cautious.
Conclusion
INFINIT’s decline reflects a mix of airdrop-driven supply dilution, technical bearishness, and post-update sentiment cooling. While its AI-focused DeFi infrastructure holds long-term potential, short-term risks dominate.
Key watch: Can IN stabilize above its 7-day SMA ($0.082) to attract buyers, or will airdrop-related selling push it toward yearly lows?