In the past two months, despite the constant hot events of memes and top project Airdrops, the market has been in a rather strange downturn. The bear’s howl seems to be faintly audible, and the bull’s footsteps seem to be close yet far away. So what are the reasons?

First, miners are selling off. According to IntoTheBlock data, Bitcoin miners have sold more than 30,000 BTC (about $2 billion) since June, the fastest pace in more than a year. The recent halving has led to a decline in profits, triggering this sell-off.

Next, three groups sold Bitcoin. First, the aforementioned Bitcoin miners sold a net 8,000 Bitcoins in May. In addition, after reaching a record high three weeks ago and rising parabolically, Bitcoin ETFs sold $1 billion in assets in the past eight trading days. Another group of sellers is early Bitcoin holders, who sold $1.2 billion.

Overall, in this market environment where the market is both cold and warm, there are still quite a few unfavorable factors slowly fermenting.

VC coins are gradually losing popularity, and consensus becomes the mainstream

However, an interesting phenomenon has emerged this year, the competition between vc coin and meme coin, retail institutions are unwilling to take over each other, the relative opposition between the two sides has gradually emerged, and the consensus has gradually spread in the community. vc coin has been falling since March, while meme coin is stronger. Why do you say that?

Binance has to be mentioned here. Its recent series of operations have attracted widespread attention and doubts from the market. As an important platform in the field of digital currency, Binance seems to have adopted double standards when launching new currencies. This practice is not only puzzling, but also makes many investors feel unfair. ZRO, ZK, OMNI, AEVO and other currencies all experienced a surge and then a sharp drop at the beginning of their launch. One can't help but question, what is the significance of Binance launching these VC coins? They keep saying that they protect users, but do such operations really protect users?

The inscription market has been sluggish recently, and many people are overwhelmed by runes. There is no rune project listed on Binance yet. The leading dog pulled the market and then went in for a callback. Inscription took the opportunity to counterattack at this time. First, there was unisat airdrop pizza, which was raised to 8 dollars per piece. The Rats community was calling for Binance to launch rats spot, but will Binance respond to the community's call? If it is launched, it must be a major positive. No wonder the market is pulled at this time, maybe someone has obtained insider information.

As for the currencies that are launched fairly, for example, the rats community did not directly launch spot trading when it was launched, but chose contract trading. At that time, Binance explained that it was to protect users and prevent them from taking risks due to high market value.

Rats rose 52.4% in the past 24 hours

According to Coingecko, the Rats (RATS) cryptocurrency has gained 52.4% in the past 24 hours and is currently trading at $0.0001125. Here’s another reason to be optimistic about the future of Bitcoin!

Let me talk about three data about rats.

1. Binance Futures’ 24-hour transaction volume is 800 million US dollars, ranking third after BTC and ETH.

2. The total 24-hour spot transaction volume of the entire network is 120 million US dollars.

3. Rats has a market value of 120 million US dollars.

So why did rats suddenly surge?

Meme is about emotional community consensus, especially the Bitcoin ecosystem has added fairness. Rats is a synonym for anti-VC, and it is also the community members' cohesion worn down by Binance's only listing contracts and not spot trading. They took advantage of this incident to let their emotions out.

rats has had its ups and downs. If there weren't so many messy things in the community, if rats was led by overseas communities, it might have been a myth long ago. The sudden rise, at present, does not show any huge benefits, of course, it is not ruled out that it took advantage of this wave of emotions. Fud Binance's VC coin sentiment, as well as the response of the first sister, gave the market some fomo sentiment. It may be known that ud, who often appears in the Chinese market, has reached a new height. The screen is full of Xs, which are all education and questioning. In the afternoon, it started to oppose VC again, and in the evening, it started to express the song title clearly, which completely stirred up the money of emotions, and rats rose sharply.

The most talked about issue is that Binance currently only has contracts online, but no spot products.

All the new VC coins on Binance have high market value and high valuation, but relatively low circulation. A lot of chips are unlocked and shipped later. If the community members give poor feedback, they will be listed, and the price will fall all the way after listing. However, the fully circulated coins with active and cohesive communities and relatively low valuation are sometimes not considered. It is just to launch a contract to suck blood. Basically, we all know that if we don't stop, 99% of the time we will lose money. We will still play it because it is really a small risk for a big gain, hoping to be that one percent.

Will Binance launch RATS spot soon?

Binance’s behavior of only listing contracts and not spot products is actually destroying the cohesion of the project community.

For example, I like this project and want to participate, but I recognize Binance Exchange, but Binance Exchange does not have it, so I need to transfer the currency to other places with spot to buy it. Binance sees the traffic and popularity of this currency and wants to list it online, but there is no listing fee, and they don’t want to miss these traffic. They just list a contract, and we all know that it is just air data if they only list the contract without spot support. Community members who recognize this project and recognize Binance will trade this currency on Binance. They think that if there is no spot, they can only open a contract, and it will be fine if they open one or two times. But the fact is that a contract is a contract, and it has nothing to do with one or two times. When a big fluctuation comes, it will still explode. It is not like spot that you can lie flat if you can lie flat. As a result, it is found that when Binance only has contracts, users in these project communities will lose money no matter how they trade, and there is a feeling of looking for a liquidation when there is no spot to take the contract. Finally, believers in this project will lose money because they want to trade on Binance, and they may explode in the end. Then it's GG, quit the project and stop paying attention to it. In other words, projects that only launch contracts are actually indirectly sucking the blood of these projects and forcing some people who are optimistic about the project to eventually be forced to leave, which is a factor that destroys the unity of the community.

However, after the commotion in the past two days, I personally feel that it may give these projects some opportunities. That is, Binance may slowly put the spot of these contract-listed currency projects online.

The surge of rats and sats seems to tell the market: retail investors will play what the main players don’t play; retail investors will pull what the main players don’t pull! You main players want all kinds of VCs to get cheap chips, and you just sell them when you go public! I, a retail investor, only play with full circulation, so don’t even think about cutting me off, and I won’t be fooled by you to take over. The market at this moment officially declares that the period of the main players leaving the high and mighty of small retail investors has ended! The era of retail investors banding together to awaken is coming!