April 12, 2024 Grandpa checks in
The market remained sideways, but the altcoin sector fell a bit. In addition to the tokens that I mentioned a few days ago, such as TRB and TIA, which were obviously controlled by the main players in the early stage, many other altcoins have not reached new highs for a long time. Looking at the entire market, BNB is close to a new high with the support of Launchpad, and there is no sign of stopping the issuance of new coins. The market now seems to be full of smart money, unwilling to take too much risk for the subsequent rising market, and more certainty is needed.
UNI has also experienced a significant decline in the past two days. Affected by the negative news, the SEC has issued a warning to Uniswap Labs and may take enforcement action. The market is still cautious about this. After all, the dividend plan of holding UNI may be affected. In addition, if it is targeted by the SEC, at least a layer of skin will be peeled off, and the market is quite worried about this.
As for the market, there is still no special fluctuation. The price of Bitcoin is still hovering around 70,000. The overall feeling is that it is neither going up nor down. The direction of this position is unclear, and we can only waste time. For us, we should not be too obsessed with the market direction, and we can also participate in some short-term hot spots in the market, such as the Launchpad I mentioned earlier, and participate in freeloading.
The overall rate has been reduced recently, and there are relatively fewer arbitrage opportunities. However, a huge opportunity appeared last night, which was the launch of the new coin TAO. The price of this coin was 600-700 before the opening, and it reached a high of more than 1,000 after the launch, and it was sideways at 800-900 for a few minutes, so there is still a lot of profit space. You can pay attention to the tokens that Binance will launch in the future.
Thank you for your attention and likes.