$ALEO The project team and VCs are here to make money, not to help you make money. Aleo's only value is the network gas fee; the tokens allocated to the project team and VCs are already abundant, and these locked tokens can be staked, which is equivalent to releasing twice the tokens linearly each month, essentially paying themselves a salary and draining the project's liquidity. The circulating tokens' inflation far exceeds the network's consumption.

This will lead to a death spiral: as soon as a sell-off of $500k to $1 million occurs, panic among the trapped investors, collective panic selling, and the project will go to zero and delist.
Additionally, the companies that received funding are provable; Aleo is just one of their projects. At worst, they can use the remaining funding to develop a new independent project.
I also reviewed Aleo's recent two-month price fluctuations: market makers withdrew all the orders above, creating a liquidity vacuum, and despite buy orders of $10,000 to $50k, the market cap increased by 20%-30%. This allows the project team and VCs to offload their holdings at this position.
It’s also possible that the project team is funding the purchase of VC and validator tokens. After acquiring these tokens, they can slowly let the price decline, then introduce new mining machines to absorb the massive tokens they hold.