Deep Dive
1. Vesting Schedule & Sell Pressure (Bearish Impact)
Overview:
80% of RTX’s airdropped tokens (6.66% of total supply) are locked until March and June 2026 (CoinCircuit). Early investors and team allocations (35.82% of supply) also face staggered unlocks, risking dilution if holders exit post-vesting.
What this means:
Concentrated sell-offs from airdrop claimants (vesting 20% at TGE, then 40% quarterly) could suppress prices near-term. However, gradual unlocks may mitigate panic selling compared to instant releases.
2. Mooncake Product Traction (Bullish Impact)
Overview:
RateX’s Mooncake protocol—a permissionless leveraged token marketplace—saw $31.4M volume on its December 19 launch. Success hinges on attracting yield farmers and traders seeking 10x leverage in a low-fee environment (WEEX).
What this means:
If Mooncake’s TVL approaches top DeFi platforms (e.g., dYdX’s $3.8B), RTX could rally on fee-revenue buybacks. However, Solana’s crowded DeFi space demands sustained innovation to retain users.
3. Altcoin Sentiment & Bitcoin Dominance (Mixed Impact)
Overview:
BTC dominance sits at 59.03% (Dec 20, 2025), signaling capital rotation away from alts. However, DeFi’s $100B+ TVL offers RTX macro tailwinds if leverage demand rebounds (CMC Fear & Greed Index).
What this means:
A shift to “Altcoin Season” (index currently at 15/100) could amplify RTX’s upside, but prolonged Bitcoin dominance may delay momentum until 2026.
Conclusion
RateX faces near-term sell pressure from unlocks but holds long-term potential if Mooncake gains adoption in leveraged DeFi. Monitoring vesting-related volume spikes and Mooncake’s weekly TVL growth will be critical.
Can RTX’s product-led tokenomics outpace unlock-driven volatility?