The potential for large stakeholders
Not only large stakeholders but a large number of small-to-mid stakeholders. There are hundreds of dolphins by now and if too many of them decide to cash out at 8X rate that will put a lot of short term pressure on the market.
8X is a large ratio. One dolphin with 1/8 the SP of a whale powering down postfork will have the same selling rate as a whale did pre-fork.
On the other hand, it means whatever does happen will play out faster (13 weeks) and then be over, instead of stretching on for years.
Yeah, no doubt. I think the perception (largely accurate) is that previous declines were driven by the largest whales cashing out and dumping on the market. So the biggest fear is that that would go into overdrive... But you make a good point. Now more users can drive price declines, too! It's democratizing. :)
I'm being a little facetious here... I actually don't think we'll see a horde of dolphins cashing out. What I mostly hear from people is that they're all in and not going anywhere.