Crypto influencer Sisyphus cautioned against shorting large-scale, publicly announced token unlocks. In a statement on September 24, reported by BlockBeats, he highlighted the risks associated with such actions. He noted, “The problem is that teams can decide to re-lock tokens at the last minute, as seen with dydx. It’s not advisable to short these tokens.”
While he acknowledged that prices may eventually decline, he pointed out that teams often have strategies to manipulate prices in the short term. “I don’t think a public mass unlock is a good time to short cryptocurrencies, where market manipulation is legal,” Sisyphus added.
In response, prominent trader Eugene Ng Ah Sio commented, “If you’re bearish on unlocking, it’s best to avoid it. But if you’re bullish, there are several strategies you can employ.”
