中文翻译
所以，这在一定程度上是正确的。然而我认为 $CRCL 下跌约 50% 的主要原因在于禁售期(lockups)和流通盘(float)动态，而不仅仅是利率降息。我们在 $BULL 首次公开募股(IPO)时就见过这种情况，其以 2% 的流通盘交易，市值一度超过 500 亿美元，但在禁售期结束后暴跌回 60 亿美元。据我记忆，$CRCL 仅以有限的流通盘（约 17%）进行交易，且最近又有 3400 多万股解禁。
· 个股论点
CRCL暴跌主因是禁售期解禁与流通盘动态，而非仅因降息。
英文原文
So, this is partially true. However I’d argue the main reason for $CRCL ~50% drop was lockups and float dynamics, not just rate cuts. We saw this with $BULL ipo where it traded on 2% float upward of $50B and crashed back to $6B post lockup. $CRCL was only trading with a limited float (~17%) if I remember correctly, and another 34M+ got unlocked recently.