December 15, 2024

In the past two days, a chain called HypeLiquid has become popular. In fact, this is a protocol that started with derivatives trading, and it has recently attracted tens of billions of funds due to speculation on 'earth dogs'. Since it can only be cross-chained to HypeLiquid through Arbitrum, we have seen that the USDC assets on the ARB chain of Binance and OK have temporarily suspended withdrawals. It must be said that trading is still the most typical business model, and the success of HypeLiquid has been hailed as the on-chain FTX.

Of course, I am not recommending to buy their platform token. In fact, I recommended this protocol a long time ago, suggesting everyone to move some contract trading over. I personally traded some and received an airdrop of 1500 tokens, which, at the current price, exceeds 30,000 USDT, but I sold at $10. The reason is naturally that I believe the valuation is too high; currently, HYPE's FDV exceeds that of UNI. However, market sentiment is such that once it gets crazy, the price ceiling can also be broken.

In fact, a bull market is really just a process of selling high. Some might say, why not take more of this free airdrop, but they do not realize that HYPY opened at $3-4, and getting to $10 required a reasonable judgment on valuation to hold. To elaborate, when our other tokens go up, we can also make a reasonable assessment based on market capitalization. Do not just look at the price and hesitate to sell, because decimals can be zeroed out, and integers can also be added to, there is no upper limit on unit price.

In terms of market conditions, Bitcoin is still above 100,000, and maintaining this trend is undoubtedly a good signal. In fact, in this round of market conditions, we can see that Bitcoin's market trend is different from that of other tokens. However, the overall market trend in the crypto space still depends on Bitcoin's movements, so whoever is driving the price up is good news. But looking at the trends of ETH and others, we can also see that the upcoming market will continue to experience small fluctuations in a range, and we will have to wait for a new direction.

Thank you for your attention and likes.