On-chain data shows that BREV, the first HODLer project of a leading exchange in 2026, has officially started market-making operations. Two mainstream market makers, Amber Group and GSR Markets, each received 1 million tokens yesterday for market-making, totaling 2 million tokens which account for 0.8% of the project's initial circulation supply. The two institutions are currently progressively depositing tokens to various trading platforms to prepare for liquidity deployment.

From a timeline perspective, BREV's airdrop mechanism is proceeding quite intensively. Early BNB holder airdrops have already been distributed, market maker tokens are now in place, and there will be double impacts from holding airdrops and Alpha airdrops coming next. At this pace, the market may face considerable selling pressure.

Many participants are predicting that as these incentives continue to accumulate, it will be difficult to see a turnaround in the short term. Market makers entering indeed enhances liquidity, but simultaneously means supply-side pressure continues to be released. The key going forward will depend on the project's actual application progress and the maintenance of community consensus.