January 29, 2025

Happy New Year! I wonder where everyone is spending the Spring Festival—at home, away, or traveling. As I think about it, I’ve shared many Spring Festivals with everyone, and we will continue to have fun together. My biggest feeling after going through several cycles of bull and bear markets is that the difficulty of the market is gradually increasing; the old ways of playing are hard to sustain in a changing market. Change and learning are eternal topics in this circle.

After all, it’s the Spring Festival, so everyone can relax a bit, feel life itself, and embrace the slow pace, which is a topic I often mention. Coincidentally, the recent market isn’t great either. This year's Spring Festival Gala seems quite good; many classic stars were invited to perform, bringing a sense of nostalgia and a connection to the times. Family reunions are a constant topic during the Spring Festival each year. The pace of life is quite fast nowadays, so I think it’s nice to gather with friends and family on this special day.

As for the crypto world, I remain optimistic for the new year. On a macro level, the interest rate cut cycle means liquidity will be increasingly abundant. With more money, people will naturally start to seek investment targets, including risk assets like cryptocurrencies. Additionally, the channels for money entering the crypto world have already opened up, with ETFs and various fiat currency entry thresholds. Moreover, since Trump came to power, we have also entered the best four years policy-wise. Overall, the larger direction looks positive.

On a micro level, the profit-making effect is indeed deteriorating, especially as exchanges’ secondary markets have turned into liquidity exit pools for projects. However, there are still many opportunities. Just like with TRUMP recently, everyone only saw it drop from 70+ to 20+ after launch, but didn’t notice the opportunity for it to rise several times from a few dollars. In my view, such opportunities will definitely still exist; they just won't be in the secondary market but rather in the early stages of the market. By maintaining an attitude of exploration and learning, we can certainly seize these opportunities.

Thank you all for your support and affection over the past year. I wish everyone a new year filled with 'big results.'