Without CZ, B-An completely abandoned the value of "customer-centricity" and became a super profitable unicorn company in the crypto field. The announcement of the launch of MOODENG today directly pulled up the market by more than 100%, and the GOAT announced yesterday also instantly soared by more than 50%, which is almost the same as the market trend of one vc coin a day in March.
The reason why these latest memes are only listed on contracts and not on spot is that it is convenient to accurately harvest users. Otherwise, why not directly list a coin with mature underlying logic and high quality on spot?
Looking back at the coin listing boom in 2021, almost all underlying ecosystems performed relatively well, and the community enthusiasm was quite high. The first step for listings was always the spot market, and only when the trading volume of the spot market reached a certain height would there be eligibility for opening contract trading.
Looking at now, the VC that suddenly became popular at the beginning of the year has seen various projects worth billions emerge one after another. Retail investors, who suffered declines during a year-long bear market, are now dazzled by these billion-dollar projects, as if anyone could easily become a wealthy investor in one of these projects. After a half-year of harvesting, the brain that finally calmed down has been stimulated by the desire beyond cognition in a meme with a thousand-fold increase in one day.
Just like today when a partner asked me for recommendations on thousand-fold coins, as my uncle said: If I could recommend you a thousand-fold coin, would I still need to keep an eye on the market and chat with you every day?
The reality of this market is survivor bias, which refers to coins, not people. In all these years in the circle, I have hardly seen anyone close to me who has held a thousand-fold coin; most have gotten off halfway after boarding. That said, if a coin has risen many times, isn't it foolish not to get off? This is the true nature of humanity!
Regarding the current batch of meme contracts, my uncle's more reasonable suggestion is to wait until this wave of FOMO sentiment dissipates, and then enter when the meme sector collectively collapses in defensive emotions, and only buy spot assets. The market doesn't create money out of thin air; behind every skyrocketing coin is a new round of wealth transfer manipulated by the market makers. If you don't want to become one of the many liquidity providers, then focus on trading the coins you understand well.
It's been slow to rise, but after all, there will be opportunities in the future, and it’s stable, right?
Yesterday, the net inflow of Bitcoin spot ETF was 188 million USD, while the net inflow of Ethereum spot ETF was 2.3001 million USD. After Ethereum's exchange rate hit a new low, whale players who were going long on the chain again reduced their positions during the day to hedge risks.
However, the giant whale once again bought 5,049 Ethereum at an average price of $2,471 during the day. This giant whale has conducted a total of 12 wave operations since April this year, profiting in 10 of them, with a win rate of 83%, accumulating $3.15 million, becoming one of the few secondary market players to achieve results in Ethereum this year.
The fundamentals of the market have been improving, and liquidity is slowly being injected. The market's turning point has become a not-so-distant reality. Can everyone hold on until the end?
BTC: The low point of Bitcoin's hourly chart has risen to the position of 67,000 points. Currently, after a brief correction of the indicators, the bulls show a trend of continued easing. The four-hour pressure level to watch is 68,800 points. There are currently no strong reversal signals in sentiment, so continue to maintain patience in the range's washout and oscillation; the operational space has become smaller after coming up from this position.
ETH: Ethereum is linked to Bitcoin, with short-term support returning to 2,500 points.
Altcoins: After a short-term pullback, some altcoins have also bounced back from recent declines. Those who were paying attention a few days ago can continue holding, as the market is expected to stabilize gradually.
The Fear and Greed Index is at 72 today.
Finally, stay away from leverage and stock up on spot assets!
