🌌 PRL’s Supply Shock Unfolds Two back‑to‑back unlocks have poured over 200 million tokens into circulation, yet the market still clings to a deceptively steady price. My angle is that the visible stability is thin‑skinned, masking either hidden buying or a slow bleed. 🧬 The data leans toward the latter: unlike BTC’s past unlocks where on‑chain metrics showed clear absorption, PRL’s recent inflows have left no trace of new demand—no uptick in active addresses, no rise in transaction volume. With supply outpacing any measurable uptake, the “strong structure” narrative feels premature, and the risk of a concealed distribution phase is rising. 👁️‍🗨️ The calm price is a mirage, not a moat. ⚠️ Personal analysis only. Not financial advice. DYOR. #crypto #onchain #supplydynamics