#AIA Analysis: Why can't AIA's $5 million buyback support the price?

1. The gap between scale and circulating supply: The $5 million buyback plan seems large relative to the current circulating market cap of only $5.78 million, but it is executed in three batches. The first batch has a limited buyback size and cannot form sustained buying support.
2. Lack of market confidence: After the announcement, the price only briefly rebounded before quickly falling back, indicating that funds only used the positive news to push the price up temporarily to offload holdings. The market does not buy into the project's long-term narrative or the subsequent token burn execution.
3. Core selling pressure remains unresolved: Buyback and burn can only reduce circulating supply but cannot change the fundamental issue that over 90% of the tokens are still locked. The massive unlocking in the future will bring enormous selling pressure, which is the root cause of the continued price decline.