Depin bandwidth mining project Grass, the airdrop is now available for inquiry. You can check it on the official Twitter:

https://x.com/getgrass_io/status/1831380995058073649

I believe many people have made some money. As for this 0-loss project, Qingtian introduced it to you in 2003. Congratulations to those who have followed!

The recent hot DePIN narrative: Grass

The Depin track has just emerged. Projects like Grass, which are easy to break out of the circle, will definitely lead a wave of Depin craze after they go online, and have the potential to become a leader!

Why do we say this? In the AI ​​era, data is the new gold. Just as computing power is crucial to the training of AI models, high-quality data is also the core of every AI application.

Shenyu said, the bear market is coming, what do you think?

Shenyu is a very senior old man in the circle, a man who often feels confused because of too much money. He participated in the mining of BTC, LTC and ETH very early and has rich industry experience. When he was 23 years old and still a graduate student, he had already earned 100 million. At that time, he had been in the industry for less than two years. Until now, money has continued to flow into his wallet like a flood!

In March this year, when the industry was booming, some warned that a bear market for altcoins was coming, but recently they believe that the bear market may last for more than a year.

Yesterday, BTC daily line fell below the key support of 56500 and tested 55600. This market gives people the feeling that it is falling most of the time, but it suddenly pulls back with a positive line or a long lower shadow after not falling much, making short-term traders always feel that there are opportunities to go long, but they keep getting hurt.

So what we are most afraid of now is a slow decline, but an accelerated plunge is not scary.

The best scenario for bulls at the moment is to see an accelerated decline as soon as possible. Perhaps it will be like the previous few times, attracting a large amount of buying because of the low price.

In fact, a lot of short positions have accumulated recently, but they are not being liquidated. We may have to wait a while until the selling pressure of the spot ends. A big positive line may be able to pull it up. Now the market trend is not very clear, so do more right-side transactions.

In the vast universe of cryptocurrency, dApp first, let us delve into the reasons behind the birth of the intent track. In today's digital age, although Web3 has shown great potential, it also faces some urgent problems to be solved. Among them, simplifying user operations and optimizing user experience have become the key. The birth of the intent track is to meet this challenge.

dappOS is an intention execution network. For users, they only need to provide their intentions to dappOS. dappOS is responsible for the interaction with various dAPPs and public chains behind the scenes to complete the transactions required by the user's intentions.

I won’t talk about the market today, but will take you to see two announcements!

September 4, 2017: Seven departments including the People’s Bank of China issued the “Announcement on Preventing the Risks of Token Issuance and Financing”, calling a halt to ICOs and classifying them as illegal financial activities.

On the same day seven years later, September 3, 2024: The People's Court issued the "Judicial Disposal of Virtual Currency Must be Standardized", suggesting that comprehensive guidance on the judicial disposal of virtual currency be issued as soon as possible to clarify its legal status, compliance requirements, asset disposal procedures and legal responsibilities.

The article points out that the standardization of judicial disposal of virtual currency is crucial to maintaining financial stability and promoting the healthy development of the market. According to statistics from the SAFEIS Security Research Institute, the total number of virtual currency crime cases in China in 2023 was 428, a decrease of 88.9% from 2022, but the amount involved increased sharply to 430.719 billion yuan, about 12.36 times that of 2022.

I looked at the data from ODAILY, covering both new and old VC coins. Let’s take the coins listed on Binance this year as an example.

$ETHFI

It was launched on March 18, and has reached a high of 8.6 since its opening. It is currently 1.3, a drop of more than 80%.
The contract was launched on April 30th, around 4:00 pm, and the decline so far is about 70%.

$PIXEL

It was launched on February 19, and the highest opening price was around 1. It is currently 0.13, a drop of more than 80%.
The contract was listed when the market opened, and the decline since the contract was listed is over 80%.

It was launched on April 2, and the highest point was around 1.5. It is currently 0.24, a drop of more than 80%.

The contract should have been launched on the same day, and the decline since the contract was launched is over 80%.

Let’s talk about ONDO today.

Ondo Finance is a DeFi protocol built on Ethereum, which directly transfers traditional liquidity services to the currencyization of real-world assets (RWA). It hopes to build a bridge between crypto assets and the real economy through new financial products.

Ondo provides fund products based on underlying assets such as US government bonds, bills, and money market funds, providing diversified choices for investors with different risk preferences. The management fee rate is not high, 0.15%.

The market continued to fall over the weekend, and retail investors continued to be bearish on FUD, but whales kept buying and buying and were not idle. This is the current situation of the market.

Everyone is very pessimistic in the market at present. The copycat stocks they hold are constantly losing money and being cut in half. The problem is that the big market is still at a high level. It can be predicted that when the big market soars, the copycat stocks will at most return to their high levels.

Meme's performance has not been very good recently, and everyone is even more pessimistic. On a macro level, they are worried about the US economic recession, and on a micro level, they are worried that the industry lacks innovation and cannot bring sustainable growth.

Back to the market, after looking at the analysis written by the artist, BTC may still hit the previous low of 49,000 on the left.

Bitcoin is still fluctuating widely. It rebounded after getting support near 58,000 yesterday, reaching a high of around 61,000, and then began to plunge again in the early morning, directly falling to near 58,800. The market trends in recent times have been dominated by foreigners. During this period, the price has been constantly rising and falling. It is indeed a bit disgusting to clean the market in this way. When most people despair about the future market, the rally will come.

This year's market conditions are really cold, colder than in 2021, 2022, and 2023. This can be felt from the on-chain activity. Gas has never been so ridiculously low.

$BTC Affected by the decline of US stocks and other factors, ignoring the continuous inflow of ETFs, it continues to fall and is currently holding at 59,000. It is a representative of ETH's weakness, but its performance yesterday was stronger than others. However, you must not buy ecological projects because they are all being dissed by Vitalik Buterin. SOL seems to have given up resistance and has fallen smoothly. I don't know when the meme will return.

But Meme's $DOGS rose sharply. DOGS is an airdrop from the Ton ecosystem. Like NOT, DWF makes the market and pulls up DOGS to support the rescue of Durov. However, Qingtian moved the coin to OKX and has not taken care of it since. There are only more than 4,000 of them. Many friends mentioned Binance and directly gave away 20,000 coins, which is also a good deal.

Tsk tsk tsk, it’s fallen again, brothers! There’s nothing much to say about the recent market, it fluctuates back and forth, longs explode and shorts explode, and it’s liquidated back and forth! It’s always been this routine!

When there is no liquidity in the market, it is very easy to manipulate. Perhaps an institution, a market maker, or an exchange, a little bit of capital can manipulate the entire market. This behavior cannot be explained by any technical or news aspects.

If you make money, you must run away, otherwise the situation will fall. Anyway, pay attention to safety. In this wave, except for BTC, it only obtained liquidity around 65,000, and the others did not exceed the high point of the natural rebound.

Since the last time the market fell to 50,000, Shanzhai has been sluggish. Many friends asked Qingtian, is there still hope for Shanzhai? Will Shanzhai's bull market come again?

In the last round, total3 (the total market value of cryptocurrencies excluding BTC and Ethereum) rose from 50 billion USD to 1.2 trillion USD, and now total3 is around 600 billion USD, only two times the peak of the last round. In other words, a better copycat may only have a five-fold increase, while a worse copycat may not have any increase at all.

The consensus is: If there are no projects like Axie, Bored Ape, Punk, etc. that come out in this round, the copycat season will be difficult to come.

Telegram founder Pavel Durov was arrested in France. He may face charges including terrorism, drug trafficking, fraud and money laundering. French journalists said Durov faces up to 20 years in prison in France.

You know, Pavel Durov has long been a fugitive in various countries...

I don't know how many gold coins I need to get bail without being punished. This case is more complicated and serious than CZ's. Bail is only a temporary measure before trial, which allows the suspect to not be detained while waiting for trial, but it does not mean that he can be exempted from punishment.

After the arrest of TG’s founder, TON’s TVL plummeted, with most of the investors being institutions seeking emergency risk aversion.