VELVET surged 242% in 7 days. A $574 million team cliff arrives in 9 days.
Velvet Capital's governance token hit $2.07 ATH on June 29 before pulling back to $1.64. The rally was fueled by an Aerodrome migration and $29M daily volume. But the clock is ticking. The cliff: 📅 July 9, 2026 📊 350M tokens unlock (Team 20% + Early Backers 15%) 📊 Worth $574M at current price 📊 83.2% of circulating supply The numbers: 💰 Market cap: $689M 💰 FDV: $1.638B (2.38x ratio) 💰 TVL: $633K (1,088x MC/TVL) 💰 24h volume: $29M Holder concentration: 🏦 Top 100 addresses control 99.82% of supply 🏦 Top holder: veVELVET staking contract (47.17%) 🏦 #4 and #5: Unlabeled EOAs holding $113M combined Contract red flags: ⚠️ mint() and mintTo() functions with no supply cap ⚠️ Owner can mint new tokens at any time ⚠️ No on-chain cap enforcement - 1B supply is policy, not code DEX pattern: 📊 Buy/sell counts nearly identical across 5-min, 1hr, 6hr, 24hr windows 📊 Symmetrical trading across all timeframes simultaneously 📊 Common wash trading signature Sentiment: 📉 67% bearish v...