On-chain data shows that the first HODLer project BREV of a major exchange in 2026 has officially started market making. Two mainstream market makers, Amber Group and GSR Markets, each received 1 million tokens yesterday for market making, totaling 2 million tokens, which accounts for 0.8% of the project's initial circulating supply. Both institutions have now successively recharged tokens to various trading platforms in preparation for liquidity deployment.

From the timeline, BREV's airdrop mechanism has been quite intensive. The initial BNB holder airdrop has already been distributed, and now with market maker tokens in place, there will be dual impacts from holder airdrops and Alpha airdrops. At this pace, the market may face considerable selling pressure.

Many participants predict that with these layered incentives, it will be difficult to see a reversal in the short term. The entry of market makers indeed enhances liquidity, but it also means that supply-side pressure continues to be released. The key going forward will depend on the actual progress of the project's application and the community's consensus maintenance.