The core circle focused on sports Web3 is itself very small, and the investors, market makers, and exchange resources behind CHZ and OFC overlap to a very high degree. Animoca Brands is even heavily positioned in both major ecosystems at the same time.

② Fund behavior follows the exact same playbook
When good news for CHZ rolls out, it actually falls instead—this is the classic pattern of the main players pumping up and then distributing. The main players won’t dump all at once; they drip out in batches through slow, downward steps. Once most of the chips have been released, the remaining capital will inevitably rotate to a new target.

③ OFC’s listing timing is too deliberate
CHZ is the first to weaken, and OFC just happens to land right at the TGE launch point, seamlessly taking the baton of the World Cup sports narrative.

The logic is very clear: the main players will definitely shape OFC into the new “dragon head” for sports Web3 narratives. With no historical trapped-asset holders, a low market cap base, and plenty of room for story and imagination, the only thing they need to do is wash out airdrop retail investors. The airdrop originally drew participation from tens of millions, but in the end, only 200k in holdings remained—making the clearing of chips extremely easy.

Don’t blindly follow FUD. Just understand the logic behind the capital layout and grasp the essence.