Fluent's price action took a sharp turn after its initial listing on major exchanges four days ago. The token's price dropped by 22% over the past 24 hours, marking its biggest move since listing. This correction is notable, especially considering Fluent's relatively short trading history.
The decline in Total Value Locked (TVL) may raise concerns at first glance, but it's accompanied by a significant increase in active loans across the network. According to DeFiLlama data, the total value locked has decreased while active loans have surged to $39.86 million as of writing. This pattern suggests that capital is being used more frequently and effectively, which is crucial for a lending-focused protocol like Fluent.
The introduction of newly unlocked supply could amplify volatility in the short term. However, if the market absorbs this increased supply smoothly, it may aid in the price recovery process. As BLEND continues to gain traction, its long-term structure still leans towards bullish trends, indicating that the current correction could be a temporary phenomenon.