Without CZ, Binance has completely abandoned the 'customer-centric' values and has become a super-profitable unicorn in the crypto field. Today, the announcement of MOODENG's listing directly spiked over 100%, and yesterday's announcement of GOAT also soared over 50%, almost consistent with the market wave of one VC coin per day in March.
The fundamental logic behind why these newly listed memes are only listed for futures and not for spot trading is to facilitate precise harvesting of users. Otherwise, for a coin with mature underlying logic and quality, why not go directly for spot trading?
Looking back at the coin listing boom in 2021, almost all underlying ecosystems performed decently, and the sectors with active community enthusiasm all started with spot trading. Only when the trading volume of spot reaches a certain height can there be eligibility for futures trading.
Now looking at the situation, the VC suddenly became very hot at the beginning of the year, with various projects worth billions emerging one after another. Retail investors who suffered from a year-long bear market have been dazzled by these billion-dollar projects, as if they could easily become wealthy from any project. After a long six months of harvesting, the brain that finally calmed down has been reignited by the desires outside of its understanding with meme coins that have skyrocketed in a single day.
As one partner asked me today if I had any recommendations for thousand-fold coins: If I could recommend thousand-fold coins, would I still need to monitor the market and chat with you every day?
The reality of this market is survivor bias, and this bias refers to the coins, not the people. Over the years in this circle, I have hardly seen anyone around me obtain a thousand-fold coin; the majority got in and then got out halfway. That being said, if a coin has already multiplied several times, wouldn’t it be foolish to get out? This is the true nature of humanity!
Regarding the current batch of memes being listed for futures, a relatively reasonable suggestion is to wait until the FOMO sentiment dissipates and the meme sector's collective emotions collapse before entering the market, and only buy spot. The market won’t create money out of thin air; behind every skyrocketing coin is a new round of wealth transfer manipulated by whales. If you don’t want to become one of the many sources of liquidity, then play well with the coins you understand.
It's been slow to rise, but there will be opportunities in the future, and it’s stable, right?
On the data side, there was a net inflow of $188 million for Bitcoin spot ETFs yesterday, and a net inflow of $2.3001 million for Ethereum spot ETFs. After Ethereum's exchange rate hit a new low, whale players who were long on the chain once again reduced their positions for hedging.
However, a whale has once again bought 5,049 Ether at an average price of $2,471 during this trading segment. This whale has conducted a total of 12 trading operations since April this year, profiting ten times with an 83% win rate, accumulating a total of $3.15 million, becoming one of the few secondary market players to achieve results with Ethereum this year.
The fundamentals of the market have been improving, liquidity is slowly being injected, and a market reversal is not a distant possibility. Can everyone hold on until the end?
