PROVE shed another 8% this week, and six days after the tokens hit, the trackers still cannot agree on how many there were. The official PROVE unlock that vested on August 5 released 100 million tokens: 26.25 million to investors, 73.75 million to contributors, the first quarter of each allocation coming free after a twelve-month cliff. That is the figure in Succinct's own schedule. Most traders saw a bigger one.
CoinGecko listed the event near 208 million. Tokenomist put it at 233.3 million, CoinMarketCal's calendar at 203.33 million. Three widely read trackers, and not one matched the official release: the spread between the smallest and largest reading runs past 130 million PROVE.
| Source | Reported unlock | Share of ~195M circulating |
|---|---|---|
| Succinct docs | 100M | 51% |
| CoinMarketCal | 203.33M | not stated |
| CoinGecko | about 208M | listed as 20% |
| Tokenomist | 233.33M | not stated |
Where the extra 130 million tokens come from
The gap is a labeling problem, not a supply one. The trackers appear to be counting the full investor and contributor buckets, or the cumulative schedule, instead of the single tranche that actually vested. Succinct's total supply is 1 billion. Investors hold 10.5% and contributors 29.5%, so the two allocations together run to 400 million tokens across the whole vesting period. Read that label onto one release and a 100 million unlock reads as double its size. The mismatch sat uncorrected on every tracker through the week.
The percentage is where it bites. On CryptoSlate's estimate of 195 million circulating tokens, the release is a 51% supply increase. CoinGecko, working from a larger base, tagged the same event at 20%. A trader sizing risk off the project's tokenomics page got a weight less than half the real one.
The order book that had to absorb it
Underneath the arithmetic sat a thinner problem. On the morning of the unlock, Binance's PROVE/USDT book held roughly $100,000 of bids within 2% of the price. Bybit held about $105,000 on the same side. Call it $205,000 of depth on the two largest venues to catch a tranche worth more than $15 million at the time, the kind of gap between released supply and standing bids that turned earlier insider unlocks into fast drawdowns this summer.
Price has done roughly what that math implies. PROVE traded near $0.17 into the unlock and sits at $0.154 now, down 8.1% on the week and 22.3% over the month, a market cap around $30 million against a fully diluted valuation of $154 million.
805 million PROVE are still locked
That FDV is the part worth watching. About 805 million tokens are still locked, and the same investor and contributor cadence that just cleared is scheduled to keep releasing them. The people who took this tranche unlocked well under the $1.71 the token printed at its debut last August, and as of this week the trackers still list what already left at three different sizes.
