#数字货币市场洞察 $RLS just launched yesterday, but don’t rush to bottom fish—let’s do the math first.

First, the basics: total supply is 10 billion tokens, with 15%(1.5 billion tokens) in initial circulation. Current price is 0.027, market cap is 40 million, and fully diluted valuation is 270 million. Institutions got 22% of the allocation, with two rounds of funding totaling $25 million, putting their average cost per token at about 0.011. In other words, institutions valued the project at $110 million—less than half the current fully diluted valuation.

Here’s the question: with such a low institutional cost, why did the project start dumping from the opening price of 0.06?

The logic is simple. The parent company is backed by Tether, and what do institutions at this level care about most? Reputation. They won’t shortchange airdrops, but institutional interests must be protected. Since the secondary market will have to absorb the selling pressure sooner or later, it’s better to sell at higher levels first—that’s standard big-money practice.

Now, let’s look at the sector. This is a Layer2 project. Who’s the hottest in Layer2 this year? $LINEA . And the result? Everyone saw how badly it dropped. The market has already proven with real money: in this cycle, Layer2 doesn’t have much room to survive. The hot money is chasing Meme and AI, and infrastructure narratives have cooled off.

So the conclusion is clear: don’t rush to catch the falling knife below 0.02. The selling pressure is still there, sector sentiment hasn’t picked up, so be patient and wait for even lower entries.