May 15, 2024 Grandpa checks in
Recently, the market has entered a low-pressure state, and prices have continued to move downward. Basically, anyone who has bought recently will inevitably face floating losses. For buyers, if they just want to make a short-term profit, or even buy in the market and expect the market to improve immediately and return to the bull market of the past few months, then they will have a hard time recently. Frankly speaking, it is a natural reaction to be affected by the continued decline in prices after buying, but for us, we must not let this emotion spread and affect our mentality.
In the past few days, several popular Meme coins have risen again. After three years, the blogger who shorted Gamestop's stock tweeted again, causing the price of GME to soar, and the 24-hour on-chain transaction volume exceeded 100 million US dollars. When the market heat decreases, capital-type tokens are not recognized, and Meme-type traffic coins have become the darling of the secondary market again. It can only be said that the market is not short of money, but the money-making effect is lacking.
In fact, have you noticed that with the craze of on-chain ecology and Web3, the number of wallet users has increased significantly, which has directly led to a huge increase in on-chain transaction volume. Nowadays, the market share of second-tier centralized exchanges is gradually being eroded due to factors such as supervision. I believe that with the continuous development of the industry, more transactions will be transferred to the chain.
The market has not fluctuated much these days, and most altcoins are gradually hitting new lows. It is risky to enter a large position in altcoins at this position, and you still need to cooperate with mainstream assets and build positions in batches. However, when building a position, you only need to make long-term plans. The current market environment is actually quite bad, and this low-pressure atmosphere is often suitable for buying and holding.
Thank you for your attention and likes.
