According to Binance Research, the Day 1 tradable real float is estimated at approximately 11.50%, with about 4.50% held by retail and around 7.00% held by projects and institutions (source: Binance Research). The holder mix shows a majority of the tradable float residing with non-retail entities, concentrating available supply relative to retail’s share (source: Binance Research). Traders should calibrate execution to the 11.50% float and the 4.50%/7.00% split to manage slippage and spread costs during early trading (source: Binance Research).