Last night, the Yitai Foundation sold 100 Ethereum (100e), triggering a sharp correction in the market. Although this event itself has nothing to do with the market trend, it still makes people feel a little depressed. However, when I woke up this morning, Bitcoin (BTC) rebounded a bit, while the prices of Yitai, BNB, and SOL still fell by 5% compared to yesterday. The situation of altcoins is even worse, and the overall funding rate has also been reduced by half, and the number of longs in the market has increased significantly.


In this environment, the ETH/BTC exchange rate fell to around 0.036 under the influence of Bitcoin. It is unknown when it will reverse. L2 (Layer 2) projects are very popular now, and many new chains are emerging. Because of the low construction cost, the phenomenon of money-making is also more obvious. Lisk is in this situation. Recently, Unichain, Uni's L2 project, released news, which led to a wave of increases, but now the price has fallen by 20% compared to the time of release. I hope no one is trapped at a high price because of the news.

Decentralized finance (DeFi) tokens do have a certain position in the market, but most DeFi tokens exist mainly as governance tokens. I hope that the ecosystem of ETH can be maintained. It is currently the core moat of ETH, but the competition with SOL is becoming increasingly fierce. After all, SOL has strong infrastructure support, and now more leeks are flocking to SOL. I have bet on some SOL DeFi projects, and what the future will be depends on fate.


I didn't know what to buy yesterday, so I just bought some FDUSD and made a little money. Next, I'm considering restarting the fixed investment, targeting SOL, DOGE and BTC. I've been holding it for more than a year, and I'm really tired. I liquidated it at around $45,000 in the last round, exchanged the funds for more than 2,000 ETH, and also pledged it, but the result was not ideal.


In the cryptocurrency world, although there are occasional big opportunities, the premise is not to blindly toss and turn to avoid losses. In the current market environment, many people either did not make money or just recovered their investment. On the surface, the market is lively, but in fact, many people are silently enduring the trough period. Now the market's heat is mainly concentrated on the Meme coins of Bitcoin and SOL, especially after B-An launched some Meme coins with low market value, the market response was enthusiastic, and some Meme coins rose dramatically. For those who are not strong enough, it is best to avoid participating in extremely volatile currencies such as Dogecoin (DOGE), as the fluctuation of dozens of points is really uncomfortable.
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