September 24, 2024

TOKEN2049 has ended, bringing a wave of traffic and economic stimulus to Singapore. In addition, the biggest "gossip" of this event is that Vitalik and JJ Lin are "gay". You should know that Vitalik has a video of singing Chinese songs at the event, so these lyrics of "Jiangnan" can't help but make B-friends think about it. Of course, the above is mainly ridicule by the audience, not to say that Vitalik's sexual orientation is really wrong. Who made the Ethereum market not strong in the past few months, and the foundation and Vitalik himself kept selling coins? But I have some other thoughts.

JJ Lin is a well-known singer, and he is incompatible with the B circle. This time, he should be participating in Token2049 as a "leek", or he is one of the issuers of NFT. The most popular Jay Chou is a representative of the previous wave of NFT. All these show that the B circle is no longer the niche circle we imagined, not to mention the dark image before. From a brand perspective, the spot ETFs of Bitcoin and Ethereum have been approved by the world in terms of investment attributes. Therefore, objectively speaking, the current status of the B circle is not low, and further development will rely on more development and innovation.

The biggest feeling from TOKEN2049 is that the industry lacks real innovation funds. The current projects are basically based on stock funds and "money-making funds". Of course, making money is understandable. But as we all know, there are "non-profit organizations" in the traditional financial market. They really hope to make innovations that are beneficial to mankind, including OpenAI, which was a non-profit organization at the beginning. So when you participate in Token2049, you will feel a strong smell of money, not a sense of technology. It can only be said that there is still a long way to go.

In terms of market conditions, the rotation of altcoins and sideways trading of big bitcoins continued today, which is also a respect for the pressure level of 65,000. Ethereum is slowly pulling back the exchange rate. In addition, BNB has been strong in the past few days and has also touched the daily pressure level. The key now is whether this relatively important pressure level can be broken. Overall, I tend to or hope for another big drop to make up for the position, but the short-term trend is indeed a bit strong. If it stays between 60,000 and 6.50,000, the probability of subsequent breakthroughs is still very high.

Thank you for your attention and likes.