In the early morning of today (28th), the Ethereum ecosystem showed a general upward trend. $ETH rose 6.5% in the past 24 hours, temporarily reported at $3,307 at press time. The SSV token performed well, temporarily reported at $50.84, up 15.8% in 24 hours. Ethereum expansion plans $OP and $ARB rose by 14% and 10% respectively in a single day. In addition, $ETHFI in the LST track rose by as much as 21.4%.
Is it suspected that Brother Sun entered the market to pull up the price?
Recently, on-chain analysts have discovered a wave of upward momentum, and it is possible that it was pulled by Sun Yuchen, the founder of Tron. According to data, starting yesterday, a new address transferred 7,402 Ethereum (ETH) from Binance, with a total value of up to 23.04 million US dollars, and transferred a considerable part of the funds to the decentralized financial platform Aave. This behavior of depositing a large amount of stablecoins into Aave suggests a long-term holding strategy for ETH.
After transferring 7,402 Ethereum (ETH) from Binance yesterday, the address suspected to be "Sun Ge" added another 6,743 ETH yesterday, with a total value of 22.3 million US dollars, and an average cost of 3,205 US dollars per coin. The operation method and amount of funds of this address are considered by analysts to be exactly the same as those of Sun Ge. If the analysts' speculation is true, since April 17, all of Sun Ge's wallets have increased their holdings by more than 78,000 ETH. This series of operations has aroused market attention and speculation, and Sun Yuchen's investment trend has also caused widespread discussion. It is worth our continued attention to this trend to see how the currency market will change in the future.
The recent hype of Ethereum ETF is about to begin. This increase may repeat last year's situation, but unlike last year, the rise of Ethereum may drive the linkage of the altcoin market. This year is regarded as the year of altcoins, and this expectation is being verified. Be sure to control the chips in your hands, because when Ethereum rises, altcoins may also rise.
Ethereum-based currencies are beginning to rise. If the Ethereum ETF is approved, the hype of Ethereum and its altcoins will continue. Among Ethereum-based altcoins, OP's performance is significantly stronger than ARB, while SSV, ETHFI and ENS also have good performances. Returning to the starting point is also the emergence of new opportunities.
Why are there no altcoins that are dozens of times larger than the original in this bull market?
In this wave of market, the market rose from 15,500 to 73,000, which is almost five times the increase, and Ethereum rose from 1,000 to 4,000, which is almost four times the increase.
However, some of the cottages with underlying foundations did not perform well, so this bull market is different from the previous one. We will find that the market value of the 100-fold coin in the previous bull market was only 10 million, and it only reached 1 billion after 100 times.
In this round of bull market, new coins are launched with a value of billions or tens of billions of US dollars. They open high and go low to cut the leeks online, and then keep releasing the locked coins. More and more dealers and institutions are coming in, and the dog dealers' routines are constantly upgraded, but they are cleverly diverted by high FDV and a huge number of new projects.
The funds needed for the copycat bull market are 10 times that of the big bull market in 2021. What is the concept of 10 times of 1 trillion? 10 trillion, how much can BTC increase? But the approval of BTC ETF only brought more than 10 billion US dollars.
When everyone buys new and not old, the dog dealer will directly list coins with a market value of billions of US dollars, and new coins will be listed every week or even every day, making it impossible for you to buy them all.
From this decline, we can see that the funds in the market have withdrawn too sharply. Many new coins have fallen by about 50%. If you didn’t sell the previous profits, you will still lose money.
Now the dog dealers have also become smart. They use high-dimensional means to attack retail investors and use their cognition to make money from retail investors. Therefore, everyone should be extremely cautious with new coins now. Those who get rich overnight are basically those who get airdrops from new shares in the primary market. On the other hand, there are very few that perform well in the secondary market. It’s not that there are no good coins, but that most of the coins are average.
Therefore, it is recommended that you invest heavily in Bitcoin and altcoins as a supplement. Just buy it in batches every time the bitcoin price drops by more than 10%. For altcoins, only focus on the leaders. Never go all in on one altcoin unless you have enough understanding of the project party and know its subsequent plans and trading methods, otherwise your heavy position will be washed out sooner or later.
The following trends: Big funds dare not rush into the cottage! More and more people will realize this! Without the support of external forces, the internal PVP will face serious blood loss.
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