What happened to $POWER?

$POWER crashed from $3 to $0.17 in just 48 hours
A $23M token unlock is scheduled for March 5, and it looks like the market started pricing that in early.
Before the crash, $POWER was trading around $1.85–$2.25 and looked stable. Then funding rates exploded to -8,000% to -20,000%, meaning traders were paying huge premiums to stay short.
Open interest jumped from ~35M to 65M+ POWER, showing a flood of new short positions. But because price was falling so fast, the USD value of OI dropped from ~$80M to ~$40M.
Normally, arbitrage traders would step in since perps were ~7% below spot. But with weak spot liquidity and limited borrow, the hedge wasn’t possible, so the imbalance kept growing.
The most likely explanation is simple: team or early investors front-ran the upcoming unlock and started selling early.