The matter of Sun Ge spending 45 million ¥ to buy a banana is gradually fermenting. However, most self-media are not from the cryptocurrency circle and do not understand Sun Yuchen; they are just digging up old accounts or making subjective assumptions.

First, let's provide the correct answer: This banana has recently had a very high flow value in the cryptocurrency circle. This is because the vice president of Sotheby's, who conducted the auction, issued a pump (a relatively fair token launch) and promoted it on personal X (formerly Twitter), which was then quickly deleted. After a few days, when the situation fermented, he admitted the authenticity in a lengthy article.

This pump coin is called ban (the meaning should be a pun on banana and ban, which matches the artwork itself), and within just a month, it soared to a market cap of 590 million dollars, with an increase of hundreds of thousands of times. The daily trading volume is also tens of millions of dollars, far exceeding the actual transaction price of this artwork.

Now, let’s talk about why many assumptions made by outsiders are not valid.

1. Money laundering? It’s very simple; Sun himself runs the largest gray network, TRON, in the world. He does not need to use the very traditional method of auctioning to launder money. The banana actually sold for just over 5 million, and he would have to pay the auction house hundreds of thousands in fees and taxes, which would be a huge cost. Moreover, this artwork has high traffic. Even if Sun does not auction it, others will still complete the transaction at a slightly lower price. In this case, the artist himself has no need to collude with Sun, earning even less.

2. Pump BTC and cash out? In fact, Sun's larger position this round should be in ETH. Earlier this year, Sun publicly increased his holdings to 410,000 ETH, and the cost is not low, with an average price of around $3000, which is about a $1.4 billion position, mining everywhere.

Sun has a loud voice, but without opening a circular leverage, his capacity is not enough to pump BTC very high.

In this round, Sun is actually operating his own TRX and SUN coins, and he has created a platform similar to the pump mentioned above.