The developers said the team’s positions were “targeted” and they will create an operational DAO to take ownership of the Kujira Treasury and core protocols.
"Corrections shake out 'weak hands' and leverage, allowing for a stronger foundation for eventual moves higher," said well-followed analyst Will Clemente.
The bull market has been clearly spot-driven, with all major derivatives veri relatively flat, one observer said, adding the rally has limited downside.