WhiteBIT (WBT) is gearing up for its token unlock event, causing excitement and pressure in the market as bulls aim to regain higher ground. The token is currently trading at $28.77, holding above the $27.5–28 support zone after testing its long-term trendline.
Whale activity remains robust, with significant transactions recorded at $25–30 zones, indicating institutional interest. On-chain data shows that 87% of holders are in profit, reducing sell pressure, and recent volume spikes suggest renewed accumulation.
With an upcoming token unlock event scheduled for May 13, 2025, WhiteBIT will release 39.49 million WBT tokens, valued at around $1.16 billion. This event is expected to inject fresh liquidity into the market.
Technical analysis reveals a bullish pattern as WBT mirrors historical rally setups. The coin is approaching the $30.5–31.5 resistance zone, with immediate support at $27.5–28. A breakout above $31 could lead to a retest of the $33–35 all-time high (ATH) levels.
Large transaction data for WhiteBIT shows key points aligning with price shifts, indicating strategic engagement by institutional players. Volume surged on April 22, 2025, signaling increased demand.
Overall, WhiteBIT is at a crucial juncture both technically and fundamentally. The upcoming token unlock will be a significant test, with support at $26 being a key level to watch. Traders need to monitor closely for a breakout above $31 to confirm a push towards the $35 ATH level.
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