Greyhunt (HUNT) Surges 36.5% in 24 Hours: On-Chain Data Reveals Low Supply Shock

Greyhunt (HUNT) has experienced a dramatic 36.5% price surge over the past 24 hours, climbing from $5.91 to $8.19 and establishing a new all-time high of $8.27. What makes this rally particularly noteworthy isn’t just the percentage gain, but the underlying supply dynamics that suggest this may be more than a typical speculative pump.

Our analysis of on-chain metrics and market structure reveals a token with extreme supply constraints—only 19.5 million tokens are currently circulating out of a maximum supply of 100 million. This 19.5% circulation rate creates conditions where relatively modest buying pressure can generate outsized price movements, a pattern we’re observing in real-time.

Extreme Supply Concentration Creates Price Volatility

The most striking characteristic of Greyhunt’s market structure is its severely limited float. With a circulating supply of just 19.5 million HUNT tokens against a fully diluted valuation of $818.6 million, we’re observing a market cap to FDV ratio of approximately 19.5%. This creates what we call a “low float, high FDV” scenario—a setup that historically produces explosive price action in both directions.

The current market capitalization stands at $159.6 million, representing a single-day increase of $42.7 million. To put this in perspective, the 24-hour trading volume of $147,942 represents only 0.09% of market cap—an exceptionally low volume-to-market-cap ratio that indicates extremely thin liquidity. In practical terms, this means that even small buy orders can move the price significantly, while equally small sell orders could trigger sharp corrections.

We’ve seen this pattern before with tokens like APE, GMT, and STEPN during their initial rallies. The constrained supply creates initial parabolic moves, but sustainability depends entirely on whether the project can justify its fully diluted valuation once token unlocks begin. For HUNT holders, the critical question isn’t whether the token can continue rallying in the short term—low float dynamics suggest it can—but whether the project’s fundamentals can support an $818 million fully diluted value.

Seven-Day Performance Reveals Accelerating Momentum

Zooming out to the seven-day timeframe provides additional context for this rally. Greyhunt has surged 344.5% over the past week, indicating that yesterday’s 36.5% move is part of a larger parabolic trend rather than an isolated spike. This type of sustained upward momentum typically signals one of three scenarios: genuine project developments driving organic demand, coordinated accumulation by sophisticated investors, or speculative mania entering its late stages.

The token reached its all-time low of $0.634 on February 5th, 2026—just 17 days ago. From that bottom to today’s price of $8.19, we’re looking at a 1,191% gain. This recovery trajectory is remarkable even by cryptocurrency standards and raises important questions about price discovery in micro-float markets.

What concerns us from a risk management perspective is the proximity to all-time highs. Currently trading just 1.02% below its ATH of $8.27 (set earlier today), HUNT has minimal overhead resistance but also lacks established support levels. The nearest significant support sits at the $5.91 24-hour low, representing a potential 28% drawdown if profit-taking accelerates.

Volume Analysis Suggests Cautious Accumulation, Not Retail Frenzy

Perhaps the most nuanced aspect of this rally is the volume profile. At $147,942 in 24-hour volume, we’re not seeing the explosive trading activity that typically accompanies retail-driven FOMO pumps. For comparison, tokens with similar market caps and legitimate retail interest often generate volumes representing 10-50% of market cap during major rallies.

This low-volume surge suggests two possibilities. First, the token may be experiencing controlled accumulation by a small number of wallets, with limited selling pressure allowing price to drift higher on minimal buy-side volume. Second, the token’s liquidity may be so constrained that even genuine organic buying cannot generate substantial volume figures.

From a market structure perspective, we observe that the token achieved a $42.7 million market cap increase on just $147,942 in volume—a ratio that implies extreme illiquidity. This creates a double-edged sword: while it allows price to rise dramatically on modest buying, it also means that any significant selling pressure could trigger equally dramatic declines.

Token Economics and Future Supply Pressure

The elephant in the room for any low-float token is the emission schedule. With 80.5 million tokens (80.5% of max supply) yet to enter circulation, future price performance will depend heavily on the vesting schedule for these locked tokens. If these tokens unlock gradually over 2-4 years, the project may have time to build utility and demand that can absorb the selling pressure. If unlocks are front-loaded, we could see significant downward pressure on price regardless of current momentum.

Unfortunately, detailed tokenomics regarding unlock schedules are not readily available in the public data we’ve analyzed. This information asymmetry represents a significant risk factor. Without transparency around when and how the remaining 80.5 million tokens enter circulation, we cannot model long-term price sustainability with confidence.

The fully diluted valuation of $818.6 million implies that if all tokens were circulating today at current prices, Greyhunt would rank among the top 100 cryptocurrencies by market cap. This valuation needs to be contextualized against the project’s actual utility, user base, and competitive positioning—factors that require deeper fundamental analysis beyond pure price action.

Comparative Analysis: Similar Low-Float Rallies

To understand potential outcomes, we examined historical precedents of low-float tokens that experienced similar parabolic rallies. Projects like StepN (GMT) and Axie Infinity (AXS) saw their initial low-float phases generate 500-1000% returns before encountering significant resistance as token unlocks increased supply.

The pattern typically follows this trajectory: Initial surge on constrained supply (current phase) → Consolidation as early buyers take profits → Secondary rally if fundamentals support narrative → Gradual decline as token unlocks increase selling pressure → Stabilization at a price level supported by actual utility and demand.

For Greyhunt, we’re clearly in the first phase. The sustainability of this rally depends on factors we cannot assess from price data alone: the project’s actual product, user adoption metrics, competitive advantages, and team execution.

Risk Considerations and Actionable Insights

For traders considering positions in HUNT, we identify several critical risk factors. First, the extreme proximity to all-time highs (within 1.02%) means there’s no historical resistance data to guide exit strategies. Second, the low volume relative to market cap suggests that exiting even modest positions could significantly impact price. Third, the 80.5% of tokens not yet in circulation represents a substantial future supply overhang.

From a risk-adjusted perspective, the reward-to-risk ratio appears unfavorable at current levels. While momentum could certainly carry HUNT higher in the short term, the downside risks have increased substantially with the 344.5% seven-day rally. We would characterize this as a late-stage momentum trade rather than an early-stage accumulation opportunity.

For existing holders, implementing trailing stops to protect profits appears prudent. A stop-loss at the $5.91 24-hour low would preserve most gains while allowing for normal market volatility. More conservative traders might consider scaling out of positions incrementally, selling portions at predetermined levels to lock in profits while maintaining exposure to potential upside.

Key Takeaways:

• Greyhunt’s 36.5% surge is driven by extreme supply constraints (19.5% circulation rate)
• Low volume relative to market cap ($147K volume on $159.6M market cap) indicates illiquidity risk
• Seven-day gain of 344.5% places the token in late-stage momentum phase
• 80.5% of tokens not yet circulating represents significant future supply pressure
• Risk-reward ratio favors caution at current levels near all-time highs

As with all low-float micro-cap tokens, position sizing should be conservative, and traders should never invest more than they can afford to lose. The next 48-72 hours will be critical in determining whether this rally has the momentum to establish new price ranges or whether profit-taking will trigger a correction toward the $5.91-$6.00 support zone.