In the overall sluggish market, the small-step rise of small-cap currencies at an absolute low level is not a precursor to a start, but a manifestation of insufficient stamina. The absolute low level means that the chips of these currencies are very cheap, but even so, no one (or dealer) is willing to pick up these bargains. This shows that dealers are not optimistic about these currencies at all and disdain to participate in them. The small rise is just the wishful thinking of retail investors.

On the contrary, the small-step rise of relatively low-cap currencies is more likely to start. The dealer chose a currency that seems to have a higher cost to pull the platform, because if it does not pull to a certain extent to attract more retail investors to follow, it will not be worthy of the relatively large cost they invested. Under the joint action of dealers and retail investors, the price of the currency will be pushed higher and higher. GFT is a typical example recently.